A Swing Trade indicator providing backtest and alerts which can be used as a long, short or reversal strategy.
A Smoothed Donchian Channel combined with a consolidation check will trigger an entry.
The entry is then guided by a faster channel used as a trailing stop.
The most effective way to use this indicator is on high timeframes, from 2H to 1D.
The recommended pairs are trending pairs with consolidation areas, especially cryptocurrencies.
The first appproach would be to catch long and short breakouts, and ride the trend using the trailing stop.
Adjust the Bands wisely to trigger entries at the right time.
The second approach is to go longs only, and try to beat the Buy & Hold return.
For this, click "Go long" and use an order size of 100% equity. Then adjust the Bands, trailing stop and chart timeframe.
This indicator will calculate the real Buy & Hold return using a backtest period start date and a end date that we configure in the settings. It is then printed in the Buy & Hold Comparator.
You can backtest using the Strategy Tester which will give you a quick overview of the strategy results over the given period of time.
There is also a backtest panel built in the indicator that gives more detailed information such as the daily % or the Buy & Hold comparator.
The indicator is using the newest alert system:
1. Write your alert messages in the indicator settings (alert section at the bottom)
2. Click "Create Alert" as usual, but choose "alert() function calls only"
3. Give you alert a name
If you do not feel like creating your own strategy, you can pick up one of the many already created by the community.
These charts are available on my Discord Channel
Configure the Bands parameters that will trigger the entry and exit.
|Lookback||Length in bars used to calculate the Bands. Increase it to get wider bands on lower timeframes.|
|Smoothing||SMA used to smooth the Bands|
|Consolidation||Condition to trigger the entry: if the Bands width is lower than the percentage, there is a consolidation.|
|Exit Trailing Speed||You can choose the "speed" of the trailing stop. At a higher speed, the trade will exit earlier.|
|Volume Condition||Another condition to trigger an entry: if the volume is below average, there will be no entry.|
|Exit Alert Type||Choose whether to receive alerts inside bars or at bar close. Choosing bar close can be useful to ignore wicks.|
Private Discord Server: https://discord.gg/RVwBkpnQzm
1. Create a subscription. There is a 7 day free trial included.
2. Create your account here and I will grant your account access within 24 hours!
Once I grant you access, you will receive a notification.
Then, to access the Cyatophilum indicators, simply click on 'Indicators' at the top of a live chart,
Finally, click on “Invite-Only Scripts”. There you will see the Cyatophilum indicators.
Click on an indicator to activate it. Start trading!
When I create an alert, how do I choose between "Once per bar" and "Once per bar close" ?
A "Once per bar" alert will trigger on the first tick of the bar which alert condition is true. A "Once ber bar close" alert will only trigger at bar close if the alert condition is still true at bar close.
Use "Once per bar" for manual trading. The alert will trigger sooner but is not as strong as if we waited bar close. Profits and risks are increased.
Use "Once per bar close" for automated trading. Unlike "Once per bar", a "Once per bar close" alert of the same type (buy or sell) cannot trigger more than once in a row. Thus it is suited for a trading bot which send buy and sell orders to a broker. Also those alerts correspond to the backtest results given buy the backtest version given with each indicator.
Should I expect repainting issues with any of the Cyatophilum Indicators ?
I code my indicators in such a way that each candle is calculated from previous candles data only. Alerts are hosted on TradingView servers.
Can I use the Cyatophilum Indicators on other markets than cryptocurrency ?
Yes, all of my indicators work on most of TradingView's markets. You can trade Forex, Indexes, stocks, futures and CFD. Do not hesitate to join me on my Discord Server and I will help you configure the indicators for your favorite asset.
If you are not satisfied the Cyatophilum Indicators , email me at email@example.com within 14-days and you will be fully refunded.
Email me at firstname.lastname@example.org any time to cancel your subscription, or simply cancel it from your BlockchainFiesta account.
All investing involves risk, do not invest more than you are willing to lose. Past results may not be indicative of future results. By purchasing this indicator, you are not garanteed to make profit.