Peter_O

TradingView Alerts to MT4 MT5 + dynamic variables NON-REPAINTING

Accidentally, I’m sharing open-source profitable Forex strategy. Accidentally, because this was aimed to be purely educational material. A few days ago TradingView released a very powerful feature of dynamic values from PineScript now being allowed to be passed in Alerts. And thanks to TradingConnector, they could be instantly executed in MT4 or MT5 platform of any broker in the world. So yeah - TradingConnector works with indices and commodities , too.

The logic of this EURUSD 6h strategy is very simple - it is based on Stochastic crossovers with stop-loss set under most recent pivot point . Setting stop-loss with surgical precision is possible exactly thanks to allowance of dynamic values in alerts. TradingConnector has been also upgraded to take advantage of these dynamic values and it now enables executing trades with pre-calculated stop-loss, take-profit, as well as stop and limit orders.

Another fresh feature of TradingConnector, is closing positions only partly - provided that the broker allows it, of course. A position needs to have trade_id specified at entry, referred to in further alerts with partial closing. Detailed spec of alerts syntax and functionalities can be found at TradingConnector website. How to include dynamic variables in alert messages can be seen at the very end of the script in alertcondition() calls.

The strategy also takes commission into consideration.

Slippage is intentionally left at 0. Due to shorter than 1 second delivery time of TradingConnector, slippage is practically non-existing. This can be achieved especially if you’re using VPS server, hosted in the same datacenter as your brokers’ servers. I am using such setup, it is doable. Small slippage and spread is already included in commission value.

This strategy is NON-REPAINTING and uses NO TRAILING-STOP or any other feature known to be faulty in TradingView backtester. Does it make this strategy bulletproof and 100% success-guaranteed? Hell no! Remember the no.1 rule of backtesting - no matter how profitable and good looking a script is, it only tells about the past. There is zero guarantee the same strategy will get similar results in the future.

To turn this script into study so that alerts can be produced, do 2 things:
1. comment “strategy” line at the beginning and uncomment “study” line
2. comment lines 54-59 and uncomment lines 62-65.
Then add script to the chart and configure alerts.

This script was build for educational purposes only.

Certainly this is not financial advice. Anybody using this script or any of its parts in any way, must be aware of high risks connected with trading.

Thanks @LucF and @a.tesla2018 for helping me with code fixes :)
Notas de Lançamento: Stoch default K value was changed.
Notas de Lançamento: Modified alertcondition() syntax.
Notas de Lançamento: Added plot definitions and plot names to fix passing dynamic variables to alerts.

Note! when converting to study for alerts, you need to uncomment lines 62-71, not 62-65, as explained in the original description.

By they way - previous update took place November 20, when net profit was at $56336.34 and profit factor 1.208. 40 days later these numbers have improved to over $57k and 1.21 profit factor. So it continues to grow :)
Notas de Lançamento: Fixed trade_id variable. Not all dynamic values were passed correctly to alerts.

Aaaaand - another 2 weeks, another check. Account appears to continue growing, +$500 since December 29 :)
Notas de Lançamento: With the fresh update to TradingConnector to version 2.5, I have decided to take a look at my previous scripts whether they are still using latest developments by TradingView dev team and guess what - this script definitely needed an update, too. It didn't include alerts-straight-from-strategy feature, so I have added the necessary lines at the end. Enjoy!
Notas de Lançamento: Updated to PineScript version 5.

I auto-execute TradingView Alerts into MT4/MT5 using this: https://www.tradingconnector.com 1-second delivery. Ping me if you need support with installation.
Script de código aberto

Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. You can favorite it to use it on a chart.

Quer usar esse script no gráfico?