PROTECTED SOURCE SCRIPT
Dompeet Pompeet (Breakout bot)
Dompeet Pompeet is my first attempt at a viable swingtrading algo.
It uses volatility and some trend analysis to enter trade when the market is about to breakout or break down. Having a trailing stop locks in profits and prevents runaway losses for low drawdown and 2:1 profit factor.
Settings to use:
Take with a pinch of salt, there are some bugs in pine script which are difficult to track down but overall I'm pleased with the idea.
It uses volatility and some trend analysis to enter trade when the market is about to breakout or break down. Having a trailing stop locks in profits and prevents runaway losses for low drawdown and 2:1 profit factor.
Settings to use:
- BTCUSD or XBTUSD
- 4hr Timeframe or 2hr or 1hr (not shorter)
- Bars window: 13, 16 or 20 bars
- Moving average settings: 100/10 EMA to confirm trend
- Trade the Trend - check on to only take trades long in a confirmed uptrend (vice versa short), otherwise it will attempt to buy and sell counter trend, which increases profits but also increases loss rate.
- Trailing stop, values from 2-5% give the best results.
Take with a pinch of salt, there are some bugs in pine script which are difficult to track down but overall I'm pleased with the idea.
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