Its based on few parameters which I have been using to scalp ETH.
Currently its skipping few trades and exits which i will fix in sometime(getting to learn pine script), nevertheless it is by far most profitable of all my strategies.
1. Green Arrow up - Long
2. Red Arrow down - Short
3. Green TP - Take Profit for short position
4. Red TP - Take Profit for long position
If in Long postion, put STOP at low of 2nd last candle until TP1 hits. At TP1, take some profit and move stop to little above entry. Same for Short, put STOP and high of 2nd last candle until TP1 hits.
Also, it does not have alert function, so all of the trades have be manually executed. Trades are shown in chop zones as well, which will result in losses, so better use a to avoid those trades.
Next update will have
1. FIxed missing Trades and Exits
3. Improved Algo( Removal of signals in chop zone, options to have safe and risky entries, Stop placements)
4. Misc features such as, bar color change, multiple Buy/Sell(currently its alternative - Multiple means, if its a BUY and another BUY comes then it will show that too so you can add to the current trade) etc..
Just to clear my intentions, this script will be "paid only access" after next update(2-3 weeks). If you can, please tag your friends so they can benefit too. Please feel free leave a comment with all the suggestions and test results.
If you have made some money with this script, leave some tip:
Previous Results Below:
Current Results Below:
1. Removed chop trades by 90%
2. Algo improvement
3. Now works well on XRPM19 and XBTUSD with utmost precision.
1. Add to current trade
2. Bar Colors
3. Incoming liquidations and its direction(experimental)
Next update will be final update and i will start testing this bot with live funds after the update for a week and post results here. Please note that this bot will me made "invite only" after next update. So use it while you can..
ETH signals Earlier:
ETH signals now:
1. Add to Trade - Use it as a re-entry point to current trade direction or to add some more amount to your current trade(see image below).
2. Algo improvements
"ADD" comment was too much of clutter to handle on screen, so removed it.
Now, Re-entry/Add to current trade is marked with small green up arrows for long and small red down arrows for shorts.
Filter has two colors, Red and Green as a line below the chart.
When there is a "Long" signal and filter below is also green, take the long. Same for "Short" signal when filter below is red, take that short.
Avoid any trades until you find any symmetry.
****There is one small trick that i have noticed(Tried and tested on 5-10m timeframe)
If filter below is red(downtrend) and a "long" appears, you can take a short entry at first TP leve lof that long, which should give you very nice short entry.
If filter below is green(uptrend) and a "short" appears, you can take a long entry at first TP level of that short, which should give you very nice long entry.
Now less chop trades
Faster reaction. Removed Filter as it was getting very confusing on what to do while seeing both entries and filter.
Works super with my EMA - Trend strength indicatorhttps://www.tradingview.com/script/9lKvfhvE-EMA-Trend-Strength-1m-Scalper/
Algo Improvements - Current version = 3
Removed Excess "Take Profits"
Removed Excess "Add to Trades"
Changed Text and Color schemes of Long and Short.
Added Alert Functions.
//END OF UPDATES