OPEN-SOURCE SCRIPT
1 - UT Bot Strategy
UT Bot Indicator
Original indicator from user Yo_adriiiiaan
This is a custom strategy version of the original indicator to be able to backtest settings.
To add to your charts:
It uses the ATR to set dynamic trailing stops, which adjust based on market conditions. Here's how it works:
ATR-Based Trailing Stops: The indicator calculates the ATR over a specified period to gauge market volatility. This helps in setting trailing stops that are neither too tight nor too loose.
Key Parameters:
Key Value: Controls the sensitivity of the trailing stop. A higher value means the stop is less sensitive to price movements.
ATR Period: The lookback period for calculating the ATR.
Signal Generation: When the closing price crosses above the trailing stop, a buy signal is generated. Conversely, a cross below triggers a sell signal.
Customize Settings: Adjust the key value and ATR period to suit your trading style and the asset's volatility.
Backtest Yourself: Use TradingView's built-in backtesting feature to see how the strategy performs with your settings.
Original indicator from user Yo_adriiiiaan
This is a custom strategy version of the original indicator to be able to backtest settings.
To add to your charts:
- Copy the script below
- Open Pine Editor on your chart
- Create a new blank strategy
- Paste the code and save
It uses the ATR to set dynamic trailing stops, which adjust based on market conditions. Here's how it works:
ATR-Based Trailing Stops: The indicator calculates the ATR over a specified period to gauge market volatility. This helps in setting trailing stops that are neither too tight nor too loose.
Key Parameters:
Key Value: Controls the sensitivity of the trailing stop. A higher value means the stop is less sensitive to price movements.
ATR Period: The lookback period for calculating the ATR.
Signal Generation: When the closing price crosses above the trailing stop, a buy signal is generated. Conversely, a cross below triggers a sell signal.
Customize Settings: Adjust the key value and ATR period to suit your trading style and the asset's volatility.
Backtest Yourself: Use TradingView's built-in backtesting feature to see how the strategy performs with your settings.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.