ADX+BB %B+AO+EMA Strategy [PineMyths] #2
Welcome to PineMyths second case. It is always hard to start something new, thanks for the great attention you gave me when I published the first issue. I have lots of confidence and motivation right now to keep the project alive all because of you!
You can suggest to me any trading strategy video from Youtube, maybe that would be my next PineMyth project. Stay Tuned for next cases!
[CASE#2] Crazy 78% Win Rate Proven Trading Strategy Revealed — ADX + BB %B + AO + EMA
Author: Trade Pro
Indicator List
- ADX (14,14)
- Bollinger Bands %B (20,close,2)
- Awesome Oscillator
- EMA(5), EMA(21), EMA(50), EMA(200)
Strategy Rules and Conditions
LONG Side
- EMA(5) > EMA(21)
- EMA(50) > EMA(200)
- BB %B > 0.75
- ADX > 15
- Awesome Oscillator > 2
SHORT Side
- EMA(5) < EMA(21)
- EMA(50) < EMA(200)
- BB %B < 0.25
- ADX > 15
- Awesome Oscillator < -2
Stop: Fixed %2
Take Profit: Fixed %1
You can access the strategy script from TradingView’s public library. Applying it to your chart you can test different assets, parameters, and timeframes.
Backtest Results
Strategy tested with using default parameters.
Backtest results are taken on 01.15.2022 from TradingView
Summary
Strategy default settings are adjusted especially for ETUSDT 6 minute chart on Youtube Video.
New data shows that on 6-minute timeframe strategy does not seem profitable for ETHUSDT at all!
For being profitable on theory with 1% TP and 2% STOP, the winning rate must be at least 66.7%. We need to keep in mind to add commission fees as well.
When I checked the 1-minute chart, backtest results shows fewer signals but a higher winning rate.
If you are going to test this strategy on different assets, I suggest you to that adjust AO Min and AO Max levels. In general use, both can be set at zero (0).
You can add the strategy script to your TradingView account and be able to test various assets, timeframes, and even the parameters.
CASE #2 Busted!
Twitter: @PineMyths
Telegram Channel: t.me/pinemyths
Disclaimer
Any opinions, chats, research, analyses, prices, or other information contained on this blog are provided as general market information for educational and entertainment purposes only and do not constitute investment advice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that past performance is not necessarily indicate of future results.
