Many traders spend a lot of time to create algorithms full of unrealistic and far from reality indicators and market conditions. With this script I want to help traders understand the advantage of the Pine language. Using indicators with no statistical foundation and creating algorithms with technical indicators and thousands of conditions is not always the right...
I suppose nothing drives a point home like a 10+ year backtest! A couple of weeks ago I published a custom indicator called the Cumulative RSI. This indicator was straight out of chapter 9 of "Short Term Trading Strategies That Work." Today I am publishing a basic sample strategy in that uses the Cumulative RSI as its only entry and exit signals on a Nasdaq 100...
This is a simple example of how you can compile your own strategy This script contains the code for alerts and for backtesting. In order to use the backtester, comment out the sections to be used for signals, and comment in the sections to be used on the back tester, and visa versa for using the script for alerts in order to automate your own bot.
This is only a slight modification to the existing "MACD Strategy" strategy plugin! found the default MACD strategy to be lacking, although impressive for its simplicity. I added "year>2014" to the IF buy/sell conditions so it will only backtest from 2015 and beyond ** . I also had a problem with the standard MACD trading late, per se. To that end I modified the...