OPEN-SOURCE SCRIPT
I11L OIL Bot
Updated
The System makes use of the Bolinger Bands strategy from TradingView and implements simple Money Management Rules like SL and TP.
You can adjust the following Parameters:
Leverage: Leverage.
Risk Capital per Trade: The amount you are willing to lose per Trade, keep in mind that changes in Leverage should follow changes in Risk Capital.
TP_Factor: Default is 2:1 Risk:Reward, you might want to adjust this according to the underlying market.
InvertBuyLogic: Inverts the Logic of the System, important for checking if you have a true performance advantage from using the System. I look for a flat looking Curve in the wrong mode.
LookbackDistance: The distance your standart Deviation is refering to. A Lookback Distance too big might result in very few signals.
DevMult: We only want outliers, so we multiply our standart Deviation Bands by a Factor.
You can adjust the following Parameters:
Leverage: Leverage.
Risk Capital per Trade: The amount you are willing to lose per Trade, keep in mind that changes in Leverage should follow changes in Risk Capital.
TP_Factor: Default is 2:1 Risk:Reward, you might want to adjust this according to the underlying market.
InvertBuyLogic: Inverts the Logic of the System, important for checking if you have a true performance advantage from using the System. I look for a flat looking Curve in the wrong mode.
LookbackDistance: The distance your standart Deviation is refering to. A Lookback Distance too big might result in very few signals.
DevMult: We only want outliers, so we multiply our standart Deviation Bands by a Factor.
Release Notes
Implemented the TP properly.made it clearer what the "Invert Logic" means.
Enhanced the system communication with color coding in the upper and lower Bollinger band.
Adjusted the TP slightly upwards.
Its now possible to adjust the forced Trading halt after a trade has been resvoled.
Release Notes
Fixed a wrong default Parameter Setting (whoops)Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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