This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.
Our second one we are automating is the "Braid Filter: The Indicator That Will Make You a Fortune ( Crazy Win Rate ! )" strategy from "TradeIQ" who claims to have backtested this manually and achieved 453% profit with a 75% winrate over 100 trades in just a few months. I was unable to emulate these results accommodating for slippage and commission but this strategy does fair pretty well at least compared to the first one we automated.
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
This strategy uses a combination of 3 open-source public indicators:
Braid Filter by Robert Hill
CM_EMA Trend Bars by Chris Moody
ADX and DI for V4 by Trend Bars by BeikabuOyaji
Trading Rules 15 min candles but other time-frames seem to work well too.
Long 1) Buy Price action above moving average. (bars are green) 2) Braid filter must issue a new green bar 3) ADX must be above the 20 level and be pointed up, If flat or downwards, don't enter trade (adjust ADX Slope to increase/decrease the incline of the slope) 4) Stop loss at the moving average or recent swing low.
Short 1) Buy Price action below moving average. (bars are red) 2) Braid filter must issue a new red bar 3) ADX must be above the 20 level and be pointed up, If flat or downwards, don't enter trade (adjust ADX Slope to increase/decrease the incline of the slope) 4) Stop loss at the moving average or recent swing high.
Great work! I think all of TradeIQ's strategies are worth testing because at least he makes an attempt to show some sort of backtest, unlike most youtubers who just post a "strategy" without any testing. TradingFox is another good channel to reference / myth bust I think
myncrypto
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@janor123, Thanks! Wasn't aware of TradingFox. Subscribed to him tonight and will see if I can automate one of his next. Got any suggestions ?
MasBart
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I saw the error sign "The Bar Magnifier is only available for premium users" . @myncrypto
hi, m facing problem, evenif no of contracts to trade is fixed @ 1 or 2, no of contracts traded are calculated as per 50/100% leverage.
loctran1
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Hello, can you adjust your code for entry long when Braid filter must issue a new FiRST green bar and shot when Braid filter must issue a new FiRST red bar? Thank you so much!
NevilK
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wow. you are the best. I ve never seen these clean codes with great strategies like yours. good work, bro. thanks!!