Testing this script for ETHUSD for the 15 min chart timeframe and its working like a charm. Try it out and if you like, give it a thumbs up.
It's simple but functional. Enjoy!
This is an update in the parameters that performed better than the old ones during my tests. Sharing with you publicly for free so you can give it a thumbs up if you like and find it useful. Cheers!
@alskdj, please elaborate a little more. I love those noobs that don't know what a "Moving Average" is saying a signal based on Moving Averages is "repainting". LOL - My tip is: Don't use it for the 1 minute chart. Use it for the 15 minutes chart and it is gonna work as per it is in the TradingView Performance Testing, that cannot be manipulated of faked. Please study chart analysis a little more, also, lot sizing, time frames and risk management, and you will learn how to use this amazing strategy. Wish you safe trades.
@dpanday, what does "repaint" means to you? I suspect you just heard the term somewhere in the chat when you joined TradingView less than one year ago and never studied what a Script or Automated Strategy is. Prove that I am wrong and pleeeease prove what is being "repainted" here in this strategy. We should both open a ticket in TradingView for a bug in their Strategy Tester in case you can't replicate in real life what is being shown in the simulation.
@agbarbosa, Hi, Repaint means that a signal is displayed on the chart but this is removed and placed somewhere else after for example refreshing the page. This is caused by using the security function. The strategy gives very good results because of this. You can test it by using the bar replay function in Tradingview and you will see that many signals are displayed but once it's finished the signals are 'repainted' on other places.
@dpanday, thanks for your nice reply. Because of your idea on how to prove it outside the Strategy Tester, here is a video using the "Replay Function" as per you suggested. Can you record a video and show where it is repainting for you, because mine is totally fine with "no repainting". https://we.tl/t-MFPnAXQgFc
@agbarbosa, I will send some screenshots later. In the meantime you can notice the repaint by using the 1 min chart and/or modify the settings so that there are enough signals so it's easier to see. Let it run until signals are displayed. Then refresh the chart and notice that the signals are gone on the place where they were painted initially. Now they are place somewhere else (on almost perfect places as displayd in the backtest)
@dpanday, OH... but if you use different timeframes, of course its gonna give you different entry points. That's why I mentioned to use it only for the 15 minutes timeframe which is how I can have the best entry point results for the historical values and crossing EMAs. Again, this is a Moving Average crossing type of signal. Moving Averages differs in different timeframes due to obvious reasons. Anyways, thanks for putting your findings with more information here. In case I find any flaw in it, we will try to fix it and make it better. So far, I am using it and it works for me as I expect it to work.
@agbarbosa, So using both timeframes settings at 15 mins on a 15 minute chart gives you this high profit result? Is this result also based on regular candles because HA chart doesn't gives 'real' prices.
@dpanday, Not for regular candlesticks. That's the beauty of it when I discovered Heikin Ashi delays and paint the OCHL in a way it reduces the "noise" in the chart. The way I use it is by leaving the default input parameters and plotting it in the 15 minutes chart. Let me know if it makes sense to you.