This is a simple, yet efficient strategy, which is made from a combination of an oscillator and a moving average.
Its setup for 4h candles with the current settings, however it can be adapted to other different timeframes.
It works nicely ,beating the buy and hold for both BTC and ETH over the last 3 years. As well with some optimizations and modifications it can be adapted to futures market, indexes(NASDAQ,NIFTY etc), forex(GBPUSD), stocks and so on.
Components: MACD EMA Time condition Long/short option
For long/exit short we enter when we are above the ema, histogram is positive and current candle is higher than previous. For short /exit long , when close below ema, histo negative and current candles smaller than previous
Thanks for sharing this. I've been playing with a similar system using Renko Charts with MACD and 20EMA.
Is there any way this can be adjusted to calculate the price based on Renko Charts?
I'd be interested in seeing this system coded. But I don't know how to use pine script.
Here's the idea:
Renko Chart:
Set box for 5 pips. (This will vary from each instrument)
Entry:
MACD Crossover
(Must be in the direction of 20EMA on Daily Timeframe)
Exit:
Exit after 2 candles in the opposite direction.
(Ie. If in an uptrend exit after the close of 2 red candles)
The exit rule could also be set up as a trailing stop. Where after every "positive" bar that closes in the direction of your trade, set the stop at the low 2 bars back.
This would also technically double as a take profit, automatically locking in profits of a winning trade as it runs.
I totally understand if you ignore this or do nothing with it. But I just wanted to throw it out there. Maybe someone can do something with the idea.
I truly believe this has a ton of potential. Plus having it scripted would make it easier to trade especially on faster moving instruments like gold or indices.
This strategy is based on that video. I tweaked a few things. For example, exiting on 2 bars instead of 1. The reason for this is, sometimes price will retrace for a bar. This causes a fakeout in an otherwise strong trend.
Is there any way this can be adjusted to calculate the price based on Renko Charts?
I'd be interested in seeing this system coded. But I don't know how to use pine script.
Here's the idea:
Renko Chart:
Set box for 5 pips. (This will vary from each instrument)
Entry:
MACD Crossover
(Must be in the direction of 20EMA on Daily Timeframe)
Exit:
Exit after 2 candles in the opposite direction.
(Ie. If in an uptrend exit after the close of 2 red candles)
The exit rule could also be set up as a trailing stop. Where after every "positive" bar that closes in the direction of your trade, set the stop at the low 2 bars back.
This would also technically double as a take profit, automatically locking in profits of a winning trade as it runs.
I totally understand if you ignore this or do nothing with it. But I just wanted to throw it out there. Maybe someone can do something with the idea.
I truly believe this has a ton of potential. Plus having it scripted would make it easier to trade especially on faster moving instruments like gold or indices.
Also, this is where I got the concept from: youtu.be/DOPfoN7dYpc
This strategy is based on that video. I tweaked a few things. For example, exiting on 2 bars instead of 1. The reason for this is, sometimes price will retrace for a bar. This causes a fakeout in an otherwise strong trend.
Thanks again.