Ultimate Strategy Template

2021년 2월 8일

Hello Traders

As most of you know, I'm a member of the PineCoders community and I sometimes take freelance pine coding jobs for TradingView users.

Off the top of my head, users often want to:

- convert an indicator into a strategy, so as to get the backtesting statistics from TradingView
- add alerts to their indicator/strategy
- develop a generic strategy template which can be plugged into (almost) any indicator

My gift for the community today is my Ultimate Strategy Template

Step 1: Create your connector

Adapt your indicator with only 2 lines of code and then connect it to this strategy template.

For doing so:

1) Find in your indicator where are the conditions printing the long/buy and short/sell signals.
2) Create an additional plot as below

I'm giving an example with a Two moving averages cross.

Please replicate the same methodology for your indicator wether it's a MACD, ZigZag, Pivots, higher-highs, lower-lows or whatever indicator with clear buy and sell conditions

Pine Script®

Basically, I identified my buy, sell conditions in the code and added this at the bottom of my indicator code

Pine Script®

Important Notes

🔥 The Strategy Template expects the value to be exactly 1 for the bullish signal, and -1 for the bearish signal

Now you can connect your indicator to the Strategy Template using the method below or that one

Step 2: Connect the connector

1) Add your updated indicator to a TradingView chart
2) Add the Strategy Template as well to the SAME chart
3) Open the Strategy Template settings and in the Data Source field select your 🔌Connector🔌 (which comes from your indicator)

From then, you should start seeing the signals and plenty of other stuff on your chart

🔥 Note that whenever you'll update your indicator values, the strategy statistics and visual on your chart will update in real-time

Settings

- Color Candles: Color the candles based on the trade state (bullish, bearish, neutral)
- Close positions at market at the end of each session: useful for everything but cryptocurrencies
- Session time ranges: Take the signals from a starting time to an ending time
- Close Direction: Choose to close only the longs, shorts, or both
- Date Filter: Take the signals from a starting date to an ending date
- Set the maximum losing streak length with an input
- Set the maximum winning streak length with an input
- Set the maximum consecutive days with a loss
- Set the maximum drawdown (in % of strategy equity)
- Set the maximum intraday loss in percentage
- Limit the number of trades per day
- Limit the number of trades per week
- Stop-loss: None or Percentage or Trailing Stop Percentage or ATR
- Take-Profit: None or Percentage or ATR
- Risk-Reward based on ATR multiple for the Stop-Loss and Take-Profit

This script is open-source so feel free to use it, and optimize it as you want

Alerts

Maybe you didn't know it but alerts are available on strategy scripts.

I added them in this template - that's cool because:

- if you don't know how to code, now you can connect your indicator and get alerts
- you have now a cool template showing you how to create alerts for strategy scripts

Source: tradingview.com/blog/en/strategy-alerts-are-live-now-18770/

I hope you'll like it, use it, optimize it and most importantly....make some optimizations to your indicators thanks to this Strategy template

Special Thanks

Special thanks to @JosKodify as I borrowed a few risk management snippets from his website: kodify.net/tradingview-programming-articles/

Additional features

I thought of plenty of extra filters that I'll add later on this week on this strategy template

Best
Dave

2021년 2월 10일

릴리즈 노트

V2.0
Added the trade direction feature

You can now:

- open only the longs or shorts or both
- close only the longs or shorts or both

2021년 2월 16일

릴리즈 노트

- Added the close on opposite mode
When only longs or shorts are selected, close on opposite forces the closing of the trades based on the opposite signal
It's recommended to select it if your backtest is unidirectional without exits (TP, SL, etc...)

2021년 3월 1일

릴리즈 노트

- Added two fields for strategy.exit and strategy.entry functions

1) comment (string) An optional parameter. Additional notes on the order. Replaces the {{strategy.order.comment}} placeholder when it is used in the "Create Alert" dialog box's "Message" field.

2) alert_message (string) An optional parameter which replaces the {{strategy.order.alert_message}} placeholder when it is used in the "Create Alert" dialog box's "Message" field.

Both placeholders in alerts to make the strategy compatible with automated trading bots (3commas, ProfitView, Gunbot, etc.)

2021년 3월 7일

릴리즈 노트

- Added the custom close signal (lines 117 to 119)
Now you can also send a custom close based on your indicator.

Use Case

Your connected indicator already contains signals to exit based on hard exit/indicator and you want to use those signals in the strategy template to exit the opened trades.

How to use it?

Option enabled only if you use the Use Custom Close from the Strategy Template

Use the values:

• 1 for a Long Entry
  
• -1 for a Short Entry
  
• 2 for a Close Long Exit
  
• -2 for a Close Short Exit
  

In your connected indicator, update your external connector like this

Pine Script®

2021년 5월 3일

릴리즈 노트

- Added a TP2 option where you can close X% of your position at TP1 and the strategy will close the rest at TP2 (.... or at Stop-Loss)
- Refactored a bit the user inputs to group them by theme

2022년 11월 22일

릴리즈 노트

I published an updated more advanced version (click on the link or image below to access it)