Accidentally this is a profitable open-source strategy | Forex Factory

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Accidentally this is a profitable open-source strategy

  • #1
  • First Post: Nov 18, 2019 5:14am Nov 18, 2019 5:14am
Was supposed to be educational only, but...

https://www.tradingview.com/script/9MJO3AgE-TradingView-Alerts-to-MT4-MT5-dynamic-variables-NON-REPAINTING/
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  • #2
  • Nov 18, 2019 7:46am Nov 18, 2019 7:46am
nice ...

Can it be converted to mt4 ? Or even can u explain exit - entry rules?

Best
  • #3
  • Nov 18, 2019 9:55am Nov 18, 2019 9:55am
Quoting LukaFF
nice ... Can it be converted to mt4 ? Or even can u explain exit - entry rules? Best
@peterka: I noticed that when a countertrade appears, the initial one is closed. Can you indicate where in the code is implemented this rule ? I just cannot identify it ...

@LukaFF: the rules are in that link, in the code. I will try to explain them in plain english for you ( peterka, please correct me if something wrong ): take a Stochastic(14,3,4), go long/short when StoK crosses over/under StoD, put your SL on most recent pivot low/high, put partial TP ( 50% ) at 15 pips and total TP at 40 pips, close trade if a countertrade appears.
  • #4
  • Nov 18, 2019 3:16pm Nov 18, 2019 3:16pm
Quoting forexcentric
{quote} @LukaFF: the rules are in that link, in the code. I will try to explain them in plain english for you ( peterka, please correct me if something wrong ): take a Stochastic(14,3,4), go long/short when StoK crosses over/under StoD, put your SL on most recent pivot low/high, put partial TP ( 50% ) at 15 pips and total TP at 40 pips, close trade if a countertrade appears.
Exactly

I'm sure it can be converted, but why bother converting if you can use this: www.tradingconnector.com
  • #5
  • Nov 18, 2019 3:19pm Nov 18, 2019 3:19pm
Quoting forexcentric
{quote} @peterka: I noticed that when a countertrade appears, the initial one is closed. Can you indicate where in the code is implemented this rule ? I just cannot identify it ...
That is default behaviour of TradingView backtester - it closes previous trade automatically when opposite one is opened. You can avoid this behaviour by enabling "allow hedging" in TradingConnector, but then you wouldn't exactly follow the backtested strategy.
  • #6
  • Last Post: Nov 20, 2019 3:14pm Nov 20, 2019 3:14pm
Quoting peterka
{quote} That is default behaviour of TradingView backtester - it closes previous trade automatically when opposite one is opened. You can avoid this behaviour by enabling "allow hedging" in TradingConnector, but then you wouldn't exactly follow the backtested strategy.

Hey peterka,

i'm trying to understand your statement : To turn this script into study so that alerts can be produced, do 2 things:
1. comment “strategy” line at the beginning and uncomment “study” line
2. comment lines 54-59 and uncomment lines 62-65.
Then add script to the chart and configure alerts.

could you post the script with the above changed if possible?

Lewis
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