Twin Range Filter Algo

@Colinmck used two different ranges to generate signals. Read his release notes to find out what the original script does.

I added one condition which seems to increase performance on 15m BTCUSD as well as 1h BTCUSD and that is ATR with 32 periods being smaller than ATR with 64 periods. I used my script Volatility Optimiser to discover this tendency.

Both buying and selling conditions are same as in @Colinmck's script plus one condition of my own. You can disable my condition.

Target and stop-loss are manually set values in ticks.

Time stop-loss is manually set value in a number of candles. After this number of candles, a position always exits (or should 😇). You can disable it by inserting a very long period. I do not recommend it, because a value of indicator should not be measured in luck and if market starts moving in the direction after 40 periods, the predictive capability of an indicator is questionable.

I used 300/150/17 for 15m BTCUSD chart and 900/30/17 for 1h BTCUSD . I didn't try to optimize any other parameters for these periods.

Since this script relies mostly on volatility for its prediction, I wouldn't recommend using it on its own. Individual approach to the market is recommended. Also, it didn't work on EURUSD when using the same default values and different order management (tp, sl, time sl), so it is probably not as versatile.

Let me know what do you think of this strategy. If you have some ideas about how to make it more reliable, share it in the comments, I might put it to the test. Good luck 🍀

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well done mate. i hope you'll release a study version.
@rhanna, Colin gave me his consent to publish a strategy. I could on study and create it, but I wonder why the people are asking for one? If I do this, my only contribution will be a True Range condition that is 32 ATR must be smaller than 64 ATR. Backtesting algorithm can't be a part of the study. If people want a script with this new condition as an only addition, I will probably send it toColin and let him publish it on his own, since 90% of work would be his.

Hello Grat job.
Can you put this in to a Study?
greenmask9 dmozet1
@dmozet1, Backtest tools can't be used in a study.
Great!, but better performance at 4H using ur original setting
@Bodedo, Cool. I haven't tried that, 4h 's not my timeframe ;)
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