systemalphatrader

WaveTrend+ Strategy [SystemAlpha]

This is a WaveTrend strategy based on WaveTrend Oscillator. In addition to using the normal crossovers, we use trend filters, trailing stop loss and take profit targets. WT+ Strategy was developed for crypto, forex and stocks for 15 minutes to daily timeframe . The main goal was to catch long term trends and ride them.

In this strategy you have a choice of:

Trend Filters:
- Average Directional Index ( ADX )  – buy when price is trend is up and sell when trend is down.
- Moving Average (MA) – buy when price close above the defined moving average and sell when price close below moving average
- Parabolic SAR – buy when SAR is above price is above price and sell when SAR is below price.
- All - Use ADX , MA and SAR as filters

For MA Filter , you can use the “TF MA Type”  and "TF MA Period" parameter to select Simple or Exponential Moving Average and length.

Stop Loss:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Parabolic SAR ( SAR ) – Parabolic SAR adapted as trailing stop loss.
 
For ATR , you can use the “ATR Trailing Stop Multiplier” parameter to set an initial offset for trailing stop loss.

Take Profit Target:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Standard % – Percent as target profit
 
For ATR , you can use the “ATR Take Profit Multiplier” parameter to set an initial offset for trailing stop loss.

Additional feature include:
- Regular and Hidden Divergence display and alerts
- Filter Overbought and Oversold
- Use WT Cross for Exit

STRATEGY ONLY:
- Set backtest dates
- Set Trade direction - Long, Short or Both
- Use timed exit - Select method and bars
- Method 1: Exit after specified number of bars.
- Method 2: Exit after specified number of bars, ONLY if position is currently profitable.
- Method 3: Exit after specified number of bars, ONLY if position is currently losing.

TradingView Links:
WT+ Oscillator Companion: WT+ Alerts:
How to use:
1. Apply the script by browsing through Indicators --> Invite-Only scripts and select the indicator
2. Once loaded, click the gear (settings) button to select/adjust the parameters based on your preference.
3. Wait for the next BUY or SELL signal to enter the trade!

Disclaimer:
The indicator and signals generated do not constitute investment advice; are provided solely for informational purposes and therefore is not an offer to buy or sell a security; are not warranted to be correct, complete or accurate; and are subject to change without notice.
Catatan Rilis: Updated logic
Hilangkan dari Skrip-Skrip Favorit Tambahkan ke Skrip-Skrip Favorit
List of Scripts: http://bit.ly/SAscriplist

Use the links below or PM us to obtain access to our invite-only indicators.
Discord: https://discord.gg/7UQzSbK
Telegram: https://t.me/systemalphatrader

Komentar

What are results with regular candles? Heikin Ashi is too optimistic?
Jawab
systemalphatrader StevenMichiels
@StevenMichiels, regular candle type results vary per instruments and backtest produce better results using heikin-ashi candles. i find that waiting for signal on longer timeframe i.e 1 hour and entry at 15m regular candle for entry works best.
Jawab
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