This indicator/strategy is to be used as a way to baseline the top potential any strategy could have with other strategies and indicators.
What I have created literally shows the BEST moves possible you could have made in my opinion for SHORTING or LONGING using only the MacD values of the 4 hour while on the 30 minute chart.
To use this, try checking out XBTUSD on the 30 minute chart. It will work under different time frames but works best on the 30 minute chart in my opinion. It WILL NOT WORK Above 2 hours time frame.
DO NOT TRADE WITH THIS indicator. I can't emphasize this enough. These results only work because of the lookahead_on parameter. A lot of scam indicators and strategies use this to trick people on tradingView into buying their scripts.
This code is OPEN SOURCE and as such there is nothing to hide and no scam!
I like to use this as a comparison tool for how good I 'could' have traded and at what points those were. By knowing where the perfect trading positions are, you can create real indicators and scripts that try to find patterns in those positions.
This also shows that IF you could know the direction the MacD was going what amazing results you could get ^_~.
This is meant purely for entertainment purposes and for comparing against your own scripts.
I've included the options in the settings to allow ONLY LONG or ONLY SHORTS. By default it attempts both buy attempts. You can also change your starting ($) amount and commission percentage that is taken per trade as well.
Also included in the options is the ability to set the back testing time frame to see how it performs during just certain time periods.
Finally a color explanation
Red - MacD 4 hour going down
Green - MacD 4 hour going up
Purple - MacD 4 hour going down (from an up position)
Yellow - MacD 4 hour going up (from a down position)
Notice the program will always buy right before it turns into a yellow color since it knows the future.
In the options you can turn off 'use the future' to see the horrible results if you trade the moment you know which direction the MacD 4 hour is actually going. I will revise this script in the future with attempts to work without knowing the future as play options to get better results.
If you have any questions or comments, please do not hesitate to ask!
Hello, could you add the alertcondition() for entry and close strategy?
Gentleman-Goat
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@David99cz, I would not do that since this strategy repaints. It's only meant as a demonstration to be used along side other tools to quickly identify what the 'ideal' entry and exit points to try and optimize your other strategies
DhirenPanchal
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what is best setting for 5 min time frame
villegasne
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Thanks. i Like this indicator. I used with other indicator and is good.
dollachandu
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Repainting indicator
mayatmk
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I like this indicator but sometimes it gives signals for every candle. How to fix it? Also when I close and open the trading view app, the signals for each candle are gone. I want this indicator fixed and updated also to v5. Also please add swing trading option like strong buy and strong sell for long-term even in 1 min charts.
Gentleman-Goat
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@mayatmk, This strategy is not meant to be traded. It repaints on purpose and is more a tool to be used along side a real strategy to work on optimizing for the potential target zones that are good. This is why I have the option to turn off future knowledge and you can see how it drastically effects the results.
mayatmk
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@Gentleman-Goat, Thank you for your response. Can I know how can I disable the repaint for using it along side another indicator like bollinger?
him444
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i cant add this on tradingview alert publish it again without strategy
Gentleman-Goat
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@him444, You want a non strategy version of this? I can do that if you want, but issue is it would only work with realtime mode since they limit how many 'lines' and 'drawings' , 'labels' you can have at once.