OPEN-SOURCE SCRIPT

2Mars - MA / BB / SuperTrend

Updated

The 2Mars strategy is a trading approach that aims to improve trading efficiency by incorporating several simple order opening tactics. These tactics include moving average crossovers, Bollinger Bands, and SuperTrend.

Entering a Position with the 2Mars Strategy:

Moving Average Crossover: This method considers the crossing of moving averages as a signal to enter a position.
Price Crossing Bollinger Bands: If the price crosses either the upper or lower Bollinger Band, it is seen as a signal to enter a position.
Price Crossing Moving Average: If the price crosses the moving average, it is also considered a signal to enter a position.

SuperTrend and Bars confirm:

The SuperTrend indicator is used to provide additional confirmation for entering positions and setting stop loss levels. "Bars confirm" is used only for entry to positions.

Moving Average Crossover Strategy:

A moving average crossover refers to the point on a chart where there is a crossover of the signal or fast moving average, above or below the basis or slow moving average. This strategy also uses moving averages for additional orders #3.

Basis Moving Average Length: Ratio * Multiplier
Signal Moving Average Length: Multiplier

Bollinger Bands:

Bollinger Bands consist of three bands: an upper band, a lower band, and a basis moving average. However, the 2Mars strategy incorporates multiple upper and lower levels for position entry and take profit.

Basis +/- StdDev * 0.618
Basis +/- StdDev * 1.618
Basis +/- StdDev * 2.618

Additional Orders:
Additional Order #1 and #2: closing price crosses above or below the Bollinger Bands.
Additional Order #3: closing price crosses above or below the basis or signal moving average.

Take Profit:
The strategy includes three levels for taking profits, which are based on the Bollinger Bands. Additionally, a percentage of the position can be chosen to close long or short positions.

Limit Orders:
The strategy allows for entering a position using a limit order. The calculation for the limit order involves the Average True Range (ATR) for a specific period.

For long positions: Low price - ATR * Multiplier
For short positions: High price + ATR * Multiplier

Stop Loss:

To manage risk, the strategy recommends using stop loss options. The stop loss is updated with each entry order and take-profit level 3. When using the SuperTrend Confirmation, the stop loss requires confirmation of a trend change. It allows for flexible adjustment of the stop loss when the trend changes.
There are three options for setting the stop loss:
1. ATR (Average True Range):

For long positions: Low price - ATR * Long multiplier
For short positions: High price + ATR * Short multiplier

2. SuperTrend + ATR:

For long positions: SuperTrend - ATR * Long multiplier
For short positions: SuperTrend + ATR * Short multiplier

3. StdDev:

For long positions: StdDev - ATR * Long multiplier
For short positions: StdDev + ATR * Short multiplier

Flexible Stop Loss:
There is also a flexible stop loss option for the ATR and StdDev methods. It is triggered when the SuperTrend or moving average trend changes unfavorably.

For long positions: Stop-loss price + (ATR * Long multiplier) * Multiplier
For short positions: Stop-loss price - (ATR * Short multiplier) * Multiplier

How configure:

Disable SuperTrend, take profit, stop loss, additional orders and begin setting up a strategy.
Pick soucre data
Number of bars for confirm
Pick up the ratio of the base moving average and the signal moving average.
Set up a SuperTrend
Time for set up of the Bollinger Bands and the take profit
And finaly set up of stop loss and limit orders

All done!

For OKX exchange:
https://ru.tradingview.com/script/nzilXPNB-2Mars-strategy-OKX/

https://t.me/fj_2Mars

Release Notes

Fixed minor errors

Release Notes

Added:

Entry trigger
Stop-loss trigger
SuperTrend as entry signal

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.

Want to use this script on a chart?

facejungle

Also on:

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.