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Profit Guard Short Strategy with Time Delay & Stop Loss"Profit Guard Short Strategy" Explanation This script, named "Profit Guard Short Strategy," is designed to identify and execute short-selling opportunities in financial markets, aiming to profit from price declines. It incorporates adaptive filtering, a time-based exit mechanism, and a stop-loss to manage risk. Profit-Making Mechanisms: Trend Following (Short Direction): The core profit strategy is to identify and capitalize on downtrends. It uses two Simple Moving Averages (SMAs): a faster one (FMA) and a slower one (SMA). When the FMA crosses below the SMA, it signals a potential shift from an uptrend to a downtrend. The script further confirms this with a price crossover below the FMA, indicating a strong likelihood of a continuing downtrend. Adaptive Filtering: Volatility Filter (ATR): The script uses the Average True Range (ATR) to ensure sufficient market volatility. It only enters short positions when the ATR is above a certain threshold, avoiding trades in stagnant or low-volatility conditions. Range Filter: The script calculates the price range over a specified lookback period and avoids entering trades when the range is too narrow, indicating a range-bound market. This helps to focus on trending markets. Time-Based Exit: The script implements a time delay before considering the crossover exit signal. This allows the trade to run for a predetermined period, giving it a chance to reach its profit potential. After the time delay, the script closes the short position when the price or the FMA crosses back above the SMA, indicating a potential trend reversal. Stop-Loss Mechanism: Risk Management: The stop-loss is a crucial risk management tool. Percentage-Based: The script uses a percentage-based stop-loss, calculated from the entry price. Protection: If the price moves against the short position and reaches the stop-loss level, the position is automatically closed, limiting potential losses. Lookback (Range Filter): Range Calculation: The "lookback" period (rangeLookback) determines the number of past bars the script uses to calculate the highest high and lowest low prices. Purpose: This calculation is used to determine the price range and filter out range-bound markets. Impact: A larger lookback period considers a wider historical range, while a smaller lookback period focuses on recent price action. Default Settings and Market Considerations: Default Settings: The default settings of this script are optimized for the BTCUSDT market. Market Sensitivity: Different markets have varying volatility, price ranges, and trading characteristics. Resetting Settings: It is crucial to reset the script's settings when trading other markets. This includes: Moving Average Lengths: Adjusting fastMA_length and slowMA_length based on the market's volatility and trend characteristics. ATR Sensitivity: Modifying atrSensitivity to match the market's typical volatility. Range Percent: Adjusting rangePercent to reflect the market's typical price ranges. Time Delay: Modifying delayMinutes based on the market's typical trend duration. Stop Loss Percent: Adjusting stopLossPercent based on the market's volatility and your risk tolerance.
Pine Script™ strategy
by Christoph-b
MMA mainpanelI stumbled on the MMA in the “Active Investing” course notes by Alan Hull (who invented the Hull Moving Average) alanhull.com He writes on page 13: “Multiple moving averages, MMAs, are a sophisticated tool that can be used in a range of applications. MMAs are a series of lines that track and filter the weekly price movements. They consist of 2 sets of lines that allow Technical Analysts to observe and compare the immediate behavior of price activity with the long term behavior of the price activity. Exponential moving averages are used for this type of analysis. The price bars in the following chart have been switched off to improve readability of the MMA lines.” “Once we have found a share that has an acceptable 'Rate of return' we must make a qualitative judgment of the trend. We are looking for a strong and consistent trend that is not likely to reverse shortly after we enter the market. The following points are critical; - The long term group must be spreading apart or running parallel with each other. - The long term group must be pointing upwards. - The straighter the long term group of lines are; the less volatile the trend is. - The short term group can pullback (ie. compress together) but if they cross into the long term group then the trend is weakening and may be about to break. This type of qualitative analysis is only used when entering the market and the idea is to avoid volatility. We want to 'Buy and Hold' and not get bounced in and out of the market. Judging the quality of trends is the most subjective function we will have to perform.” Because I tend to close positions too soon, I tried MMA. I found that it can help me to stay in position as long as the trend is going on. TradingView offers several scripts for MMA, this version differs from the others because I added color zones and linecolor changes to mark the trend according to Alan’s norms: An uptrend is marked with a blue zone when the short term group is above the long term group and the long term group is sorted correctly and ema50 points up. The zone is purple when vice versa in downtrend. When there is no trend no zone is colored, but the lines are made gray. Because of Alan’s idea to show MMA without price bars, I created both an overlay version for the main panel and a version for a sub panel.
Pine Script™ indicator
by eykpunter
6
Guppy Multiple Moving AverageAn implementation of the Guppy Multiple Moving Average, as originally described by Daryl Guppy. Alert presets have been added for convenience, including - Price enters investor group - Price rises over investor group - Price falls under investor group - Trader-group rises above Investor group - Trader-group falls below Investor group Learn more about interpretation and uses of the GMMA in some of Daryl's books, I have thoroughly enjoyed reading "Trend Trading" and am looking forward to reading more of his works.
Pine Script™ indicator
by optictropic
17
Renko GuppyI like renko blocks and I like guppy mma's so I decided to put together a study for using them with each other while I'm using other bar types. Additionally, I added two line plots for two different renko sizes of your choice. This has a nice benefit of being able to see how price appears to be ranging between the "block sizes". Being able to see the lines contract, especially within these "ranging" zones, gives you a great indication of an impending breakout. The example you see above shows the guppy block size set to 15, the white line is 50 and the blue is 100. It should hopefully illustrate the idea. The current close price (red line) can also be optionally plotted as a separate moving average, or simply the close price. I defaulted it to a 3 period EMA to smooth it out a bit so it flows a bit better with the guppy ma's. It's helpful to see how price is actually moving around within these Renko blocks. Pick either Traditional or ATR block sizes. There are the fast (5) / slow (5) moving averages. Pick your poison: EMA (default), SMA, WMA, SMMA, DEMA, TEMA, HullMA, ZEMA, TMA, SSMA There's some options to disable/enable things as you see fit. The defaults are set to my own needs so you'll probably want to change block sizes for you preferences/symbols/timeframes. Note: This is presumably only usable for those of you with access to Renko charts on here.
Pine Script™ indicator
by imsharper
2
Rainbow MA StudyI've been interested in 'Multiple Moving Averages' lately and came across another script on here for a Rainbow MA. Unfortunately its source is private and I wanted to try things out with other MA types so I put this together. I also wanted to make it a seperate study so I could view regular bars without the clutter. The general rule of thumb with these is the larger the price movement the wider the lines become giving you sort of a wave effect. When the lines bunch up together you know there's going to be a breakout opportunity that will present itself. Partly art, partly practical, entirely overkill. Enjoy! The anchor multiplier should basically allow you to view things in relation to another time period, but it takes forever to load and will likely time out. Since there are 63 MA's being calculated and plotted changing options on the fly takes some time to process and load. I'm also pretty new to pine script so it's probably not the best implementation. MA types: EMA (default), SMA, WMA, VWMA, SMMA, DEMA, TEMA, HullMA, ZEMA, TMA, SSMA Play around with these to see some different effects. The white line is the current close price. Color 1 МАs: 2,3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 Color 2 MAs: 17, 19, 21, 23, 25, 27, 29, 31, 33, 35, 37, 39, 41 Color 3 MAs: 44, 47, 50, 53, 56, 59, 62, 65, 68, 71, 74 Color 4 MAs: 78, 82, 86, 90, 94, 98, 102, 106, 110, 114, 118, 122 Color 5 MAs: 126, 131, 137, 143, 149, 155, 155, 161, 167, 173, 179, 185, 191, 197 You can more easily change the colors at the top of this source code instead of one by one in the settings. If you want this on your main chart instead of a separate window you'll just need to change overlay=true in the study. References & Thanks: JustUncleL: For the timeframe anchor, MA variants, and generally awesome work. This is more practical. StickyCheeba: For the idea. Here's some shots to get an idea of the differences. HullMA: VWMA: SSMA: TMA:
Pine Script™ indicator
by imsharper
4
Indicators: Rainbow Charts Oscillator, Binary Wave and MAsRainbow Charts, by Mel Widner, is a trend detector. It uses recursively smoothed MAs (remember, this idea was proposed back in 1997 -- it was certainly cool back then!) and also builds an oscillator out of the MAs. Oscillator bands indicate the stability range. I have also included a simple binary wave based on whether all the MAs are in an upward slope or not. If you see any value above 0.5 there, the trend is definitely up (all MAs pointing up). More info: www.traders.com Here's my complete list of indicators (With these 3, the total count should be above 100 now...will update the list later today)
Pine Script™ indicator
by LazyBear
24