This script is a momemtum buy/sell indicator that works very well on sideways markets, particularly trading stablecoins against each other or against fiat. Trading stablecoins is only profitable when your exchange fees are roughly no more then 0.2%, and is one of the best ways to mitigate risk in your portfolio.
This indicator also works very well on stocks and ETFs on 1 day candlestick charts.
It has clear visual references where buys and sells should take place. Blue arrows underneath, pointing up, are buy signals and and the alert condition of BUY ASSET.
There are also clear references of blue arrows pointing down, above the candlestick , to indicate a sell signal. The alert condition of SELL ASSET.
Perhaps there's a delay, but the buy's never seem to go in at the optimally closed price. Is there a way I can over come this? Perhaps change the alert?
It's been only a couple of days in the paper trade account, and obviously there's a lot goin' down w/ BTC atm, but returns are negative so far, but mainly because there seems to be a lag between the alert and the purchase.
RobertD7723
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@negative-ion, if you are trading program uses webhooks, I recommend you switch to those over the SMS to email. The webhooks are significantly faster. if you are trying to trade on 1 minute candlesticks, try training on 2 minutes or 5 minute candlesticks.
Unfortunately, once the alert is generated, your preferred method of delivery to your trading program pretty much takes over from there.Lag within the internet or within your trading program goes beyond what is possible with tradingview to control.
UnknownUnicorn5219320
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@RobertD7723, ok, haven't used webhooks, i guess now's the time! will try the suggestions, and also your new price indicator one looks good too... will get back with results after these adjustments.
RobertD7723
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@negative-ion, Thank you. Please be sure to always paper trade and back analyze any study to ensure that you have a thorough understanding of how that study works and can formulate a proper risk assessment before applying any real money.
UnknownUnicorn4730794
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testing it :) thanks Robert for sharing it - WELL DONE!
UnknownUnicorn5219320
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I'm gonna put this one to the test this week... I'll give you feedback on how it does
RobertD7723
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@negative-ion, Thank you. I greatly appreciate it.
It's been only a couple of days in the paper trade account, and obviously there's a lot goin' down w/ BTC atm, but returns are negative so far, but mainly because there seems to be a lag between the alert and the purchase.