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OPEN-SOURCE SCRIPT

Rate of Change Strategy

By sonnyparlin
Updated
This strategy calculates the rate of change over time to determine buy/sell points. This strategy is best run with 1 hour candles.

Configurable values:

  • SMA Fast (days)
  • SMA Slow (days)
  • SMA Reference (days)
  • ROC Low (%)
  • ROC High (%)
  • Order Stake (%)
  • Look back Candles
Release Notes
Quite a few changes with this release...

  • IMPORTANT - default settings are for ADAUSDT on BINANCE_US with 1 hour candles
  • Use 1 hour candles with this strategy
  • Got rid of high offset, we're just going to use trailing stoploss and take profit to exit.
  • Added plots for everything
  • Added absolute stoploss
  • Added take profit
  • Added bullish outside candle reversal as a buy signal
  • Read the comments for details
  • Still need to make some variables accessible via the settings
Release Notes
Lots of changes, biggest being the correct code for stops and trailing stops.

  • Removed candle signal
  • Changed percentage inputs to take whole numbers
  • Show all plots with a checkbox
  • Configured for ETH on BinanceUS with 30 min candles
Release Notes
Reset some default values for ETH on BinanceUS 30m candles
Release Notes
Updated to pinescript 5, best used with day candles.
Simple Moving Average (SMA)sma

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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