OPEN-SOURCE SCRIPT
SSL + Wave Trend Strategy
Strategy incorporates the following features:
Risk management:
Trade entry:
Trade exit:
Backtesting:
Trade drawings:
Alerting:
Debugging:
Strategy conditions
Trade entry:
LONG
SHORT
Trade exit:
Credits
Strategy is based on the YouTube video "This Unique Strategy Made 47% Profit in 2.5 Months [SSL + Wave Trend Strategy Tested 100 Times]" by TradeSmart.
It combines the following indicators to determine trade entry/exit conditions:
Risk management:
- Configurable X% loss per stop loss
- Configurable R:R ratio
Trade entry:
- Based on strategy conditions below
Trade exit:
- Based on strategy conditions below
Backtesting:
- Configurable backtesting range by date
Trade drawings:
- Each entry condition indicator can be turned on and off
- TP/SL boxes drawn for all trades. Can be turned on and off
- Trade exit information labels. Can be turned on and off
- NOTE: Trade drawings will only be applicable when using overlay strategies
Alerting:
- Alerts on LONG and SHORT trade entries
Debugging:
- Includes section with useful debugging techniques
Strategy conditions
Trade entry:
LONG
- C1: SSL Hybrid baseline is BLUE
- C2: SSL Channel crosses up (green above red)
- C3: Wave Trend crosses up (represented by pink candle body)
- C4: Entry candle height is not greater than configured threshold
- C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
- C6: Take Profit target does not touch EMA (represents resistance)
SHORT
- C1: SSL Hybrid baseline is RED
- C2: SSL Channel crosses down (red above green)
- C3: Wave Trend crosses down (represented by orange candle body)
- C4: Entry candle height is not greater than configured threshold
- C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
- C6: Take Profit target does not touch EMA (represents support)
Trade exit:
- Stop Loss: Size configurable with NNFX ATR multiplier
- Take Profit: Calculated from Stop Loss using R:R ratio
Credits
Strategy is based on the YouTube video "This Unique Strategy Made 47% Profit in 2.5 Months [SSL + Wave Trend Strategy Tested 100 Times]" by TradeSmart.
It combines the following indicators to determine trade entry/exit conditions:
- Wave Trend: Indicator: WaveTrend Oscillator [WT] by LazyBear
- SSL Channel: SSL channel by ErwinBeckers
- SSL Hybrid: SSL Hybrid by Mihkel00
- Keltner Channels: Keltner Channels Bands by ceyhun
- Candle Height: Candle Height in Percentage - Columns by FreeReveller
- NNFX ATR: NNFX ATR by @sueun123
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.
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.