This indicator will allow us to create one strategy for each pair and never miss those big swings ever again!
HOW BEAT BUY & HOLD WORKS
This kind of strategy is a safe long term investment, usually played in high timeframes such as 4H, 1D etc. It is perfect for beginners in trading as the process is very simple: buy and sell when you receive the alert. The high timeframes allows to trade manually by receiving alerts on your phone or email, but you also can automate it if you prefer. The primary goal of these strategies is to increase your capital faster than someone simply holding the asset.
The trades are made with no leverage and 100% equity. It is for those who want to grow their portfolio fast without risking to lose everything. You can use several strategies at once, in this case split your equity accordingly.
HOW DOES IT WORK?
The Heikin Ashi candles are very usefull. This strategy is built upon H.A. candles but is used on normal candles, because H.A. candles price are an average of real candles and we want to know the real price. I did the trick by recalculating the H.A. open, high, low and close with the original formula based on the real candles's ohlc. This allows me to use the strategy tester and backtest with real results.
HOW TO USE
Creating a signal is as simple as adding the indicator called [ALERT SETUP] to your chart and click "Set alert". Select "Once per bar close" for your alert options.
There are 3 alerts: - BUY - SELL - BUY OR SELL (for free TV users)
Note: This version is the BACKTEST. You can find the Alert version in my profile scripts.
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Added the option to enable long or/and short trades results in the backtest.
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Create alerts from the backtest version!
-> Added Strategy Alerts text inputs. How to use: Write your alert messages for BUY & SELL orders in the settings. Then click add alert, and in the alert message, write the following: {{strategy.order.alert_message}}
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Added new alert system! To use it: 1. Write your alert messages in the indicator settings (alert section at the bottom) 2. CLick "Create Alert" as usual, but choose "alert() function calls only"
That's all! You will receive alerts for every event.
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Added new Backtest Results panel You can disable it by going in the style tab -> tables, or by clicking the indicator setting "Backtest Results Table". You can also change its size if you want to make it bigger or smaller.
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Bug fix: Backtest orders triggering multiple times per bar due to calc on every tick
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Added new strategy 'Strong Trend' in addition to the default strategy. Added a new event 'Trend Change' that will appear on the chart in orange. It can be disabled in the style tab if needed. Added the 'Trend Change' alert. Alert text inputs now allow line returns.
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Added alert placeholders: {price} will return the close price {ticker} symbol name without exchange prefix {tickerid} symbol name with exchange prefix
@Chtoesli, it's a private script. Read the description.
Djshauns
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My chart is setup with H.A candles. should i change to regular candles to read backtest results?
cyatophilum
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Yes @Djshauns, it should be used on regular candles.
Djshauns
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Love being a member with you guys. I've taken to this script. I have an impatient question. are Alerts triggered "Once per bar close" like the backtest?
@cyatophilum, shot in the dark here, but I was wondering if we could get a configurable take profit and a stop loss added into this? figured it wouldn't hurt to ask. Thanks. loving these scripts.
cyatophilum
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@Djshauns, Using the "Cyatophilum Swing Trader" indicator, you will be able to select "HEIKIN ASHI" and then set a stop loss and take profit.