ProRealCode Library Strategy Compilation

• 12/04/2020 at 12:56 PM #152359
  Edvard

  This strategy is a sort of tribute to this forum. I’ve gratefully been using stuff from here for some time, and wanted to see if I could create something entirely with tools from this website.

  So: based on one of @Nicolas many great inputs to this website, the TopBottom Indicator, this strategy uses the TopBottom indicator to generate buy-signals, Moving Averages to confirm market direction, and RSI to make sure it’s not already overbought (though I’m unsure how much the RSI indicator helps here).

  The code for the dynamic SL also comes from this forum, but unfortunately I can’t find who wrote it. If it was you, or if you know who it was, please give that person credit!

  The strategy only goes long, almost exclusively works on 5M charts, and in demo I’ve found it to also be quite efficient on stocks that rise quickly from time to time. It is quite good at catching the rapid rises. The backtest in the picture is what you would get from running one contract of Nasdaq, and the basecode in the file is meant for that. However, below I’ve listed some other examples for charts to use it on, and suggestions for values to be used. Please note that it has not in any way been optimized, nor is the strategy statistically ensured to be working, but rather these values are meant as a foundation for discussion!
  Please let me know if you have any suggestions or questions:-)

  Powercell: 500 contracts, SL: 500, Trailstart 80.
  Bitcoin: 1 contract, SL: 200, Trailstart 60.
  Tesla: 6 contracts, SL: 4000, TrailStart 1000.

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  TempusFugit, Wilko, Kovit, GraHal

  

  Edvard

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  12/04/2020 at 1:39 PM #152598
  Nicolas

  Thanks for sharing 🙂 I made your post a forum topic, I think people will enjoy taking part into extended development based on your idea, we’ll see!

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  Edvard

  

  Nicolas

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  12/04/2020 at 1:42 PM #152599
  GraHal

  Thank you for sharing Edward.

  Did you try the shorts side? I note that you have ExitShort conditions in the code.

  I’ll have a go at Shorts myself later.

  I’ve set it going on Demo Forward Test on DJI 2 min, spread = 2 (better at 5, but I’d done the screen shots).

  

  GraHal

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  12/04/2020 at 1:58 PM #152602
  Edvard

  Thanks for sharing the results from DJI GraHal! Hadn’t tried that so interesting to see it working there.

  I did try the short side, but on the Nasdaq for example the drawdown was too big in October for my liking. It is already on the limit for what I may tolerate as far as drawdown go.

  On stocks that have a long term trend upwards it just seems to give bad entry signals for shorts.

  I have not yet tried it on currency though, so might work there!

  Left the exit short code in if anyone finds something where SellShorts work.

  

  Edvard

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  12/04/2020 at 2:42 PM #152608
  GraHal

  Edvard Nordlund wrote:

  Left the exit short code in if anyone finds something where SellShorts work.

  Good idea – glad you did!

  Apologies, I just noted from the better font on the Forums front page that it is Edvard (not Edward as I had used).

  Cheers

  

  GraHal

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  12/04/2020 at 6:28 PM #152633
  Edvard

  Haha!
  Didn’t even think about it – the Swedish spelling of the name is a weird one:-)

  Cheers

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  Edvard

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  12/07/2020 at 2:14 AM #152790
  Edvard

  Thank you @Grahal for the heads up on it’s capabilities on DJI!
  This backtest is with a SL value of 225, and trailstart value of 40. It’s also tested with a 5 point spread. Pretty promising results, so this one is going into the live demo testing phase:-)

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  Edvard

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