Hi, I am a beginner and trying to backtest the indicator (https://www.prorealcode.com/prorealtime-indicators/trend-following-moving-averages/) that create from Nicolas. Can someone please help me figure out or explain how it work in detail?
That indicator doesnt return any value, it plots a cloud of MA in different colors, you can’t use the code “as is” to create a strategy directly in ProOrder. It would need some custom coding, but can you tell us what is the strategy you have in mind?
Thanks Nicolas. I figure it out. I was trying to use the green line as buy signal and red as sell signal. My custom below using EMA 100 to follow the trend. It would be grateful if you have further suggestion.
DEFPARAM CumulateOrders=False
capital = 100000 + strategyprofit
n = capital / close
// --- settings
prd = 30 //Period to Check Trend
rateinp = 1 //Trend Channel Rate % minval = 0.1, step = 0.1
ulinreg = 1 // 1=true, Use Linear Regression
linprd = 10 //Linear Regression Period, minval = 2
matype = 1 //ma type 0=sma, 1-ema, etc.
// --- end of settings
rate = rateinp / 100
pricerange = highest[300](close) - lowest[300](close)
chan = pricerange * rate
p1 = 100
//trend
masrc1 = average[p1,matype](close)
if ulinreg then
ma1 = LinearRegression[linprd](masrc1)
else
ma1 = masrc1
endif
hh1 = highest[prd](ma1)
ll1 = lowest[prd](ma1)
diff1 = abs(hh1-ll1)
if diff1>chan then
if ma1>ll1+chan then
trend1=1
elsif ma1<hh1-chan then
trend1=-1
else
trend1=0
endif
else
trend1=0
endif
ret1 = trend1*diff1/chan
alpha1 = min(255,(80+abs(ret1*10)))
if ret1<0 then
r1=255
g1=0
else
r1=0
g1=255
endif
iprev=$prev[p1]
$prev[p1] = ma1
IF g1 = 255 THEN
BUY n SHARES AT MARKET
ENDIF
SET STOP %LOSS 10
IF r1 = 255 THEN
SELL AT MARKET
ENDIF