Gold Friday Anomaly StrategyThis script implements the " Gold Friday Anomaly Strategy ," a well-known historical trading strategy that leverages the gold market's behavior from Thursday evening to Friday close. It is a backtesting-focused strategy designed to assess the historical performance of this pattern. Traders use this anomaly as it captures a recurring market tendency observed over the years.
What It Does:
Entry Condition: The strategy enters a long position at the beginning of the Friday trading session (Thursday evening close) within the defined backtesting period.
Exit Condition: Friday evening close.
Backtesting Controls: Allows users to set custom backtesting periods to evaluate strategy performance over specific date ranges.
Key Features:
Custom Backtest Periods: Easily configurable inputs to set the start and end date of the backtesting range.
Fixed Slippage and Commission Settings: Ensures realistic simulation of trading conditions.
Process Orders on Close: Backtesting is optimized by processing orders at the bar's close.
Important Notes:
Backtesting Only: This script is intended purely for backtesting purposes. Past performance is not indicative of future results.
Live Trading Recommendations: For live trading, it is highly recommended to use limit orders instead of market orders, especially during evening sessions, as market order slippage can be significant.
Default Settings:
Entry size: 10% of equity per trade.
Slippage: 1 tick.
Commission: 0.05% per trade.
Tradingstrategy
TSI w SuperTrend decision - Strategy [presentTrading]This strategy aims to improve upon the performance of Traidngview's newly published "Trend Strength Index" indicator by incorporating the SuperTrend for better trade execution and risk management. Enjoy :)
█ Introduction and How it is Different
The "TSI with SuperTrend Decision - Strategy" combines the Trend Strength Index (TSI) with SuperTrend indicators to determine entry and exit points. Unlike traditional strategies that rely solely on one indicator, this method leverages the strengths of both TSI and SuperTrend to provide a more nuanced and adaptive trading strategy.
This dual approach allows for capturing trends more effectively, especially in volatile markets.
BTCUSD 8h LS Performance
█ Strategy, How it Works: Detailed Explanation
🔶 Trend Strength Index (TSI)
The TSI is a momentum oscillator that shows both the direction and strength of a trend. It is calculated by comparing the price movement with the bar index over a specified period. The formula for TSI is as follows:
```
TSI = (PC / |PC|)
where:
PC = Change in price over the period
```
In this strategy, TSI is calculated using the closing prices and a default period of 64 bars. The TSI values help identify overbought and oversold conditions, providing signals for potential market reversals.
🔶 SuperTrend Indicator
The SuperTrend is a trend-following indicator based on the average true range (ATR). It helps in identifying the direction of the market trend. The SuperTrend calculation involves:
```
SuperTrend = HLC3 ± (Factor * ATR)
where:
HLC3 = (High + Low + Close) / 3
Factor = User-defined multiplier
ATR = Average True Range over a period
```
The SuperTrend settings in this strategy include a length of 10 bars and a factor of 3.0.
Last Bull Cycle of BTC
🔶 Entry and Exit Conditions
The strategy uses the TSI and SuperTrend together to determine entry and exit points:
- Long Entry: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
- Long Exit: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Entry: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Exit: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
█ Trade Direction
The strategy allows users to select the trade direction through the `tradeDirection` input. The options are:
- Both: Enables both long and short trades.
- Long: Enables only long trades.
- Short: Enables only short trades.
█ Default Settings
- TSI Length: 64
- SuperTrend Length: 10
- SuperTrend Factor: 3.0
- Trade Direction: Both
- Take Profit (%): 30.0
- Stop Loss (%): 20.0
Impact of Default Settings
- TSI Length: A longer TSI period smooths out noise but may lag in identifying trends. A shorter period is more responsive but can generate false signals.
- SuperTrend Length: A shorter length provides quicker signals but can be prone to whipsaws. A longer length is more reliable but may delay entries and exits.
- SuperTrend Factor: A higher factor increases the distance of the SuperTrend from the price, reducing sensitivity to minor price fluctuations.
- Trade Direction: Allows flexibility in trading strategies by enabling both long and short trades based on market conditions.
- Take Profit and Stop Loss: These settings manage risk by automatically closing trades at predefined profit or loss levels. Higher percentages provide larger potential gains but also higher risk.
Heikin Ashi ROC Percentile Strategy**User Guide for the "Heikin Ashi ROC Percentile Strategy"**
This strategy, "Heikin Ashi ROC Percentile Strategy", is designed to provide an easy-to-use framework for trading based on the Heikin Ashi Rate of Change (ROC) and its percentiles.
Here's how you can use it:
1. **Setting the Start Date**: You can set the start date for the strategy in the user inputs at the top of the script. The variable `startDate` defines the point from which the script begins executing trades. Simply input the desired date in the format "YYYY MM DD". For example, to start the strategy from March 3, 2023, you would enter `startDate = timestamp("2023 03 03")`.
2. **Adjusting the Midline, Lookback Period, and Stop Loss Level**: The `zerohLine`, `rocLength`, and `stopLossLevel` inputs allow you to adjust the baseline for ROC, the lookback period for the SMA and ROC, and the level at which the strategy stops the loss, respectively. By tweaking these parameters, you can fine-tune the strategy to better suit your trading style or the particular characteristics of the asset you are trading.
3. **Understanding the Trade Conditions**: The script defines conditions for entering and exiting long and short positions based on crossovers and crossunders of the ROC and the upper and lower "kill lines". These lines are defined as certain percentiles of the ROC's highest and lowest values over a specified lookback period. When the ROC crosses above the lower kill line, the script enters a long position; when it crosses below the upper kill line, it exits the position. Similarly, when the ROC crosses below the upper kill line, the script enters a short position; when it crosses above the lower kill line, it exits the position.
In my testing, this strategy performed best on a day and hour basis. However, I encourage you to experiment with different timeframes and settings to see how the strategy performs under various conditions. Remember, there's no one-size-fits-all approach to trading; what works best will depend on your specific circumstances, goals, and risk tolerance.
If you find other useful applications for this strategy, please let me know in the comments. Your feedback is invaluable in helping to refine and improve this tool. Happy trading!
