This strategy is equal to the very popular "ANN Strategy" coded by sirolf2009(1) which calculates the percentage difference of the daily close price, but this bar-bone version works completely without his Artificial Neural Network (ANN) part.
Main difference besides stripping out the ANN is that my version uses close prices instead of OHLC4 prices, because they perform better in backtesting. And the default threshold is set to 0 to keep it simple instead of 0.0014 with a larger step value of 0.001 instead of 0.0001. Just like the ANN strategy this strategy goes long if the close of the current day is larger than the close price of the last day. If the inverse logic is true, the strategy goes short (last close larger current close). (2)
This basic strategy does not have any stop loss or take profit money management logic. And I repeat, the credit for the fundamental code idea goes to sirolf2009.
(2) Because the multi-time-frame close of the current day is future data, meaning not available in live-trading (also described as repainting), is the reason why this strategy and the original "ANN Strategy" coded by sirolf2009 perform so excellent in backtesting.
All trading involves high risk; past performance is not necessarily indicative of future results. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
(1) You can get the original code by sirolf2009 including the ANN as indicator here:
I propose to remove the author with all his posts in view of the lack of meaning in them. In order not to turn the portal TradingView to TradingGarbage.
BATHALAXXX
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@vernal, I dont know coding but this Script has very high returns when used on crypto pairs
bullseye0788
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@BATHALAXXX, It's repainting signal after the price action happens, still not perfect 100% score lol
manas.sriv1986
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@BATHALAXXX, are you using them as it is or combining it with another indicator
ICEKI
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I was read all the comments, but I am still very appreciated your efforts, specially your generous. Trading involve a lot of unexpected events, although repaint can be happen but people should understand if there are a algo is always 100% win, who will lose money in the markets. ChartArt, you are one of the trader that I very appreciated, again thank you so much for sharing your great works =D
ChartArt
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I forgot before publishing to change the equity of the strategy to use e.g. $10000, that's why the net profit is shown as only $0.98 on EURUSD. With $10000 it would be a theoretical net profit of $198000.