SIMPLE CANDLESTICK PATTERN ALGO BACKTESTING - TESLA 4HMany traders spend a lot of time to create algorithms full of unrealistic and far from reality indicators and market conditions. With this script I want to help traders understand the advantage of the Pine language. Using indicators with no statistical foundation and creating algorithms with technical indicators and thousands of conditions is not always the right way to create an efficient tool.
With this script that we have called "SimpleBarPattern_LongOnly" we analyse the market through a simple condition, using bars or candles.
How it works
The condition is constructed as follows. You go long with 100% of the established capital and 0.03% commission. The first condition is that the minimum of the period under analysis falls below the opening level. The second condition is that the low of the period is below the low of the previous period. The third condition is that the close of the period is above the opening level. The final condition wants the current close to be higher than the previous open and higher than the previous close. We used a statistical approach in the creation of this script, some candlestick patterns that reflect these conditions are: Bullish Engulfing, Bullish Hammer and Morning Star .
This strategy aims to help traders make more accurate decisions while using candlesticks for their trading and scientifically demonstrates that candlesticks are valid statistical tools for financial analysis.
"SimpleBarPattern_LongOnly" is a very lightweight script created with Pine v5. We developed a user interface that can adjust the analysis period from a few days to several years.
The initial capital set is €1,000 (You can change this from the "Properties" section of the user interface).
Each individual trade uses 100% of the set capital, in this case €1,000.
The default commission per trade is 0.03% (You can change this in the "Properties" section of the user interface).
User Interface
1) General backtest time settings: Set the history period to be analysed
StartDate: backtest start date
StartMonth: backtest start month
StartYear: backtest start year
EndDate: backtest end day
EndMonth: backtest end month
EndYear: backtest end year
3) Stop Loss
4) Take Profit
Please do not hesitate to contact us for any questions or information.
Disclaimer
Be careful, the past is not a guarantee of future performance, so remember to use the script as a pure analysis tool. The developer takes no responsibility for any use other than research and analysis and can in no way be held liable for damages resulting from wrong use of this code.
Statistics
Co-relation and St-deviation Strategy - BNB/USDT 15minThis indicator based on statistical analysis. it uses standard deviation and its co-relation to price action to generate signals. and following indicators has been used to calculate standard deviation and its co-relation values. finally it is capable to identify market changes in bottoms to pic most suitable points.
1. Parabolic SAR (parabolic stop and reverse)
2. Supertrend
3. Relative strength index (RSI)
4. Money flow index (MFI)
5. Balance of Power
6. Chande Momentum Oscillator
7. Center of Gravity (COG)
8. Directional Movement Index (DMI)
9. Stochastic
10. Symmetrically weighted moving average with fixed length
11. True strength index (TSI)
12. Williams %R
13. Accumulation/distribution index
14. Intraday Intensity Index
15. Negative Volume Index
16. Positive Volume Index
17. On Balance Volume
18. Price-Volume Trend
19. True range
20. Volume-weighted average price
21. Williams Accumulation/Distribution
22. Williams Variable Accumulation/Distribution
23. Simple Moving Average
24. Exponential Moving Average
25. CCI (commodity channel index)
26. Chop Zone
27. Ease of Movement
28. Detrended Price Oscillator
29. Advance Decline Line
30. Bull Bear Power
Compound Indicator Strategy - BTC/USDT 3hThis is an Strategy finds and utilise end points of short term market trends and this is a combination of many indicators such as
1. Volume change oscillator
2. Money flow index ( MFI )
3. Momentum Oscillator (MOM)
4. Stochastic Indicator
6. Relative Strength Indicator ( RSI )
7. Relative volatility index (RVI)
8. Balance of power (BOP)
9. Small moving average ( SMA )
10. Exponential moving average ( EMA )
11. Parabolic SAR
12. Super trend indicator
this script forms a compound indicator after analysing movements of those indicators through different time frames and measure its co-relation and variance with the price action. buy doing that, indicator in a position to identify short term market reversals and presented.
after generating a common indicator, it evaluates standard deviation and standard variance with currant market price action and generates a buy and sell signals. you can determine your own trading method based on available options.
Aphrodite// v4
// continuation of prime number checker with strat commands and normal distribution theory put in
//pump/dump trend following strategy idea added.
//Pseudo Random Number Generator Box Muller Normal Distribution Method - code from Function - Functions to generate Random values by RicardoSantos. Dots are calculated by an adaptation of the ideas
//in this script.
// volume accumulates when dots are green for buys, red for sells. This setup is just looking for buys but this is very easy to change
//just go to trading day and swap all strategy.long commands for strategy.short commands
// Exits on minutes where OHLC all return 'primeness'
//Reinforced dots (with black) when last three dots are all of same colour
