Very simple trading strategy for weekly charts.
Buy:
After close of 2nd green candle in weekly chart
Sell:
After close of 2nd red candle in weekly chart
Take profit:
Next short/long?
Stop loss:
Open of the first green/red candle? Maybe lowest/highest point of the first green/red candle?
I did some backtesting without stop loss and take profit with this settings:
Initial captial: 1000$
Order size: 1000$
Pyramiding: 0
Commission: 0.5%
For 2016-now the strategy would've made a profit of 419%. If you always invest 100% of your capital (so start capital + all profits) the profit should be higher then simple holding bitcoin. Profitable trades 46%, Avg Trade 15% profit.
Let me know what you think about this strategy. Maybe there is room for combining it with an indicator to increase the amount of profitable trades.
Backtest for 2018-now:
Buy:
After close of 2nd green candle in weekly chart
Sell:
After close of 2nd red candle in weekly chart
Take profit:
Next short/long?
Stop loss:
Open of the first green/red candle? Maybe lowest/highest point of the first green/red candle?
I did some backtesting without stop loss and take profit with this settings:
Initial captial: 1000$
Order size: 1000$
Pyramiding: 0
Commission: 0.5%
For 2016-now the strategy would've made a profit of 419%. If you always invest 100% of your capital (so start capital + all profits) the profit should be higher then simple holding bitcoin. Profitable trades 46%, Avg Trade 15% profit.
Let me know what you think about this strategy. Maybe there is room for combining it with an indicator to increase the amount of profitable trades.
Backtest for 2018-now: