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Trendoscope
30 Th11 2020 12:32

BuyHighSellLow - Pivot points 

COINBASE:BTCUSD1D
Bitcoin / United States DollarCoinbase

Mô tả

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Another version of buy-high sell-low strategy. This time using pivot points.

Strategy is simple:

  • Buy when price closes above R1 of pivot point level
  • Sell when price closes below S2 of pivot point level.


Use Resolution parameter to define pivot points. Higher the resolution, longer the trade time will be. If resolution is set to same as symbol, strategy will consider Higher Timeframe Multiplier to derive pivot point resolution.

Uncheck HideBands to see bands created from pivot points.

Another Buy-High Sell-Low strategy published is using donchian channel (Link below)

tradingview.com/script/UCbMuA9M-BuyHigh-SellLow-Strategy/

Phát hành các Ghi chú

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Correct lookahead bias warning by calc_on_order_fills = true
Trend AnalysisPivot Pointsbuyhighselllowtrendfollowing
Bình luận
strongMoth99604
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This is excellent and spot on! Lines up perfectly with Michael Corvel Trend Following and Turtle trading techniques.
Trendoscope
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@strongMoth99604, Thanks :)

Yeah, once you start understanding trend following, it is hard to miss how much returns is there in it.
alterlux
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Thanks for the script, it's very interesting. I tried to implement the exit strategy on R3 / S3 levels but I couldn't. Could you help me? Thanks a lot

strategy.entry("Buy", strategy.long, when=longCondition, oca_name="oca", oca_type=strategy.oca.cancel)
strategy.exit("Exit Long", stop=R3)
strategy.entry("Sell", strategy.short, when=shortCondition, oca_name="oca", oca_type=strategy.oca.cancel)
strategy.exit("Exit Short", stop=S3)
uvjoshi
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what is the message , "strategy look ahead bias"?
please guide
Trendoscope
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@uvjoshi, Corrected that. Message actually means, strategy is using lookahead bias and hence, there can be repainting. But, this is coming due to parameter - calc_on_order_fills - which does not skew backtest results in this script anyway. I removed that and hence you won't see that warning anymore. Thanks for highlighting this. I might need to check all my previous scripts.
uvjoshi
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@HeWhoMustNotBeNamed, Thanks... Cheers always for your amazing work.. Best wishes..
thousands2929
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sir
i want auto alerts in Pivot poins standard indicator for everyday after market closing time
i.e. CPR ,S1,S2,S3,S4 and R1,R2,R3,R4 lines for 50 stocks 400 alerts at market closing time for NEXT DAY CPR indicator tomarrow intraday purpose
pls reply
tomillo
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Very interesting. Is there a way to configure alarms for a bot?
Trendoscope
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@tomillo, you can add alarms to strategies. But, cannot add custom alarms. It will only give alert on buy and sell.
tomillo
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@HeWhoMustNotBeNamed, I would like to do that. How do I configure an alarm to buy and another to sell?
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