Simple Pivot Reversal Strategy with some adding settings.
Date Range: To test over specific market conditions. Initial Capitol: 10K - This is a more realistic representation of funds used this strategy (for me anyway). The default of 100K can give different results (usually better) than when using a smaller balance. Order Size: 100% Equity - These trend following strategies typically used this way, going all in each direction. Commission: .075% - It's always disheartening to think you've found a ridiculously good setting, and then realize you forgot to add the commission.
All of these settings can be changed, but it's easier for me (and more fool proof) to have them set as default.
I mean buy and sell signal is based on what criteria. Please let me know. So that I can filter the stocks which are in buy or sell mode
Filthy_McNasty
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@raja74sekhar, this is the "Strat" script to show expected returns for different settings on Pivot Reversal indicators. If you look up "Pivot Reversal Alerts," you should find several free scripts that you can use for Alerts, and you'll see the Pivot lines plotted on the charts. The "signal" to go Long/Short happens when the price crosses a previous Swing High/Low. You can change the settings on the Study (Alert) Script to see the effects of changing the inputs.
raja74sekhar
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@Filthy_McNasty, Really thank you for cleared my doubts. I will follow this indicator. If possible suggest me any other free indicator to support this indicator for easy trade. Thanks in advance
Good indicator. Can you please let me know how to filter the stocks. Is there any EMA crossover or any parameter to use. Kindly reply.
luciferlx
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Do you have study script for this?
Filthy_McNasty
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@luciferlx, sorry, I didn't see this until just now. Yes, TV used to have a built in and I also thought there were several "Pivot Reversal with Alerts" scripts that others had made. But, I'm not seeing them now. I have one that I was using, I'll look at making it public when I get a little time.
Filthy_McNasty
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@luciferlx, just made a study script for Alerts, in case you never found one.