Monthly Strategy Performance TableWhat Is This?
This script code adds a Monthly Strategy Performance Table to your Pine Script strategy scripts so you can see a month-by-month and year-by-year breakdown of your P&L as a percentage of your account balance.
The table is based on realized equity rather than open equity, so it only updates the metrics when a trade is closed.
That's why some numbers will not match the Strategy Tester metrics (such as max drawdown), as the Strategy Tester bases metrics like max drawdown on open trade equity and not realized equity (closed trades).
The script is still a work-in-progress, so make sure to read the disclaimer below. But I think it's ready to release the code for others to play around with.
How To Use It
The script code includes one of my strategies as an example strategy. You need to replace my strategy code with your own. To do that just copy the source code below into a blank script, delete lines 11 -> 60 and paste your strategy code in there instead of mine. The script should work with most systems, but make sure to read the disclaimer below.
It works best with a significant amount of historical data, so it may not work very effectively on intraday timeframes as there is a severe limitation of available bars on TradingView. I recommend using it on 4HR timeframes and above, as anything less will produce very little usable data. Having a premium TradingView plan will also help boost the number of available bars.
You can hover your mouse over a table cell to get more information in the form of tooltips (such as the Long and Short win rate if you hover over your total return cell).
Credit
The code in this script is based on open-source code originally written by QuantNomad, I've made significant changes and additions to the original script but all credit for the idea and especially the display table code goes to them - I just built on top of it:
Why Did I Make This?
None of this is trading or investment advice, just my personal opinion based on my experience as a trader and systems developer these past 6+ years:
The TradingView Strategy Tester is severely limited in some important ways. And unless you use complex Excel formulas on exported test data, you can't see a granular perspective of your system's historical performance.
There is much more to creating profitable and tradeable systems than developing a strategy with a good win rate and a good return with a reasonable drawdown.
Some additional questions we need to ask ourselves are:
What did the system's worst drawdown look like?
How long did it last?
How often do drawdowns occur, and how quickly are they typically recovered?
How often do we have a break-even or losing month or year?
What is our expected compounded annual growth rate, and how does that growth rate compare to our max drawdown?
And many more questions that are too long to list and take a lifetime of trading experience to answer.
Without answering these kinds of questions, we run the risk of developing systems that look good on paper, but when it comes to live trading, we are uncomfortable or incapable of enduring the system's granular characteristics.
This Monthly Performance Table script code is intended to help bridge some of that gap with the Strategy Tester's limited default performance data.
Disclaimer
I've done my best to ensure the numbers this code outputs are accurate, and according to my testing with my personal strategy scripts it appears to work fine. But there is always a good chance I've missed something, or that this code will not work with your particular system.
The majority of my TradingView systems are extremely simple single-target systems that operate on a closed-candle basis to minimize many of the data reliability issues with the Strategy Tester, so I was unable to do much testing with multiple targets and pyramiding etc.
I've included a Debug option in the script that will display important data and information on a label each time a trade is closed. I recommend using the Debug option to confirm that the numbers you see in the table are accurate and match what your strategy is actually doing.
Always do your own due diligence, verify all claims as best you can, and never take anyone's word for anything.
Take care, and best of luck with your trading :)
Kind regards,
Matt.
PS. If you're interested in learning how this script works, I have a free hour-long video lesson breaking down the source code - just check out the links below this script or in my profile.
Performance
Monthly Returns of a Strategy in a ChartIt's a simple example of how you can present your strategy's monthly performance in a chart.
You maybe know that there is no support of these kind of charts in TradingView so this chart is actually a table object under the hood.
Table visual appearance is customizable, you can change:
Location
Bar Width / High
Colors
Thanks to @MUQWISHI for hard work, for helping me coding it.
It's not about the strategy itself but the way you display returns on your chart. So pls don't critique my choice of the strategy and its performance 🙂
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Strategy BackTest Display Statistics - TraderHalaiThis script was born out of my quest to be able to display strategy back test statistics on charts to allow for easier backtesting on devices that do not natively support backtest engine (such as mobile phones, when I am backtesting from away from my computer). There are already a few good ones on TradingView, but most / many are too complicated for my needs.
Found an excellent display backtest engine by 'The Art of Trading'. This script is a snippet of his hard work, with some very minor tweaks and changes. Much respect to the original author.
Full credit to the original author of this script. It can be found here: www.tradingview.com
I decided to modify the script by simplifying it down and make it easier to integrate into existing strategies, using simple copy and paste, by relying on existing tradingview strategy backtester inputs. I have also added 3 additional performance metrics:
- Max Run Up
- Average Win per trade
- Average Loss per trade
As this is a work in progress, I will look to add in more performance metrics in future, as I further develop this script.
Feel free to use this display panel in your scripts and strategies.
Thanks and enjoy :)
Weekly Returns with BenchmarkSome time ago I published Monthly returns table. Now It's time for weekly one.
To get it work you need a pretty big screen, but I hope it will be useful for some of you.
Features of this table includes:
Display weekly returns of your strategy, benchmark, and alpha over this benchmark.
Select benchmark to be another instrument
Select the date from which you want to compute monthly returns
Show/hide benchmark and alpha
Choose colors for gradient for gain/loss values
Use it with any type of strategy
Use it with replay
Thanks to @MUQWISHI to help me coding it.
It's not about the strategy itself but the way you display returns on your chart. So pls don't critique my choice of the strategy and its performance 🙂
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Monthly Returns with BenchmarkI keep working on trying to make TradingView strategies look fancier.
A few months ago I published the first version of the Monthly Returns for Strategies in Pine Script. I received quite a lot of good feedback and quite a lot of requests to update it.
This is a more advanced version of the Monthly Returns, in it, you can:
Display monthly returns of your strategy, benchmark, and alpha over this benchmark.
Select benchmark to be another instrument
Select the date from which you want to compute monthly returns
Show/hide benchmark and alpha
Choose colors for gradient for gain/loss values
Use it with any type of strategy
Use it with replay
I hope it will be useful for you.
It's not about the strategy itself but the way you display returns on your chart. So pls don't critique my choice of the strategy and its performance 🙂
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
WhaleCrew BacktesterBacktesting indicators is easy , just add the following line of code to your script:
plot(longEntry ? 1 : shortEntry ? -1 : longTP ? 0.5 : shortTP ? -0.5 : 0, color=na, editable=false, title='Backtest')
These numbers are defined as constants in the backtester source-code.
After adding this indicator to your chart:
1. Open Settings
2. Select supported indicator to backtest
3. Select if you want to enter Longs and/or Shorts
4. Open the 'Strategy Tester' at the bottom to check the performance
Remember:
past performance is not indicative of future results
repainting indicators will create wrong/unrealistic results
