Price Change Scalping Strategy v1.0

23 wrz 2021

Introduction

This strategy uses a price rate of change (ROC) momentum calculation to determine the percent change in price between a defined range of bars. The calculated ROC value is then compared to the Upper Threshold and Lower Threshold values to determine if a trade setup is to be activated. If the threshold is crossed, a trade setup will occur based on the indicator settings. Entry, Take Profit, and Stop Loss prices are calculated and displayed on the chart. Once the Entry Price is crossed, a long or short position is created (depending on the direction) and once the Take Profit price is crossed, the position is closed. If the Entry Price is not crossed within a specific number of bars, the trade setup is canceled, and it will proceed to monitor price changes for the next set up.

How is it original and useful?

This strategy is unique in that the strategy version fully supports the TradingView backtester, which will enable you to perform experiments with various settings to evaluate performance using the historical chart data. The study version implements numerous custom alerts for you to build TradingView notifications around specific price action events and stay informed with market activity in real-time. Both script versions will provide the same configuration abilities where you can define:

• Define a short or long trading strategy.
  
• Price change data source and offset settings.
  
• Your layering placement relative to the entry price.
  
• Your trading parameters like take profit and stop loss offsets, exchange commission rates, trading start time, and order size multiplication for each layer.
  
• Flexible trade eligibility rules that can use other chart indicators, like RSI or EMA, to exclude the selection of entry prices for trading.
  
• The visibility of detailed statistics from the chart history pertaining to trading sessions started and closed, session durations, win rate, price action drops and bounces, as well as layer utilization.
  

How does it compare to other scripts in the Public Library?

The strategy offers a very detailed, comprehensive settings to address all types of markets found on TradingView where you can implement the price change scalping strategy. The strategy version can be considered the first of its kind on TradingView to leverage the backtester to provide informative, detailed performance measurements surrounding this unique trading strategy. The study version will contain numerous custom alerts to aid in your notification preferences and stay informed on the indicator's activities:

• Price Crossed Above Threshold
  
• Price Crossed Below Threshold
  
• Enter Long Position
  
• Exit Long Position
  
• Enter Short Position
  
• Exit Short Position
  
• Price Crossed DCA Layer 1 (Long)
  
• Price Crossed DCA Layer 2 (Long)
  
• Price Crossed DCA Layer 3 (Long)
  
• Price Crossed DCA Layer 4 (Long)
  
• Price Crossed DCA Layer 5 (Long)
  
• Price Crossed DCA Layer 6 (Long)
  
• Price Crossed DCA Layer 7 (Long)
  
• Price Crossed DCA Layer 8 (Long)
  
• Price Crossed DCA Layer 1 (Short)
  
• Price Crossed DCA Layer 2 (Short)
  
• Price Crossed DCA Layer 3 (Short)
  
• Price Crossed DCA Layer 4 (Short)
  
• Price Crossed DCA Layer 5 (Short)
  
• Price Crossed DCA Layer 6 (Short)
  
• Price Crossed DCA Layer 7 (Short)
  
• Price Crossed DCA Layer 8 (Short)
  

Strategy Results

The default settings are designed to define a "loose" price change settings to ensure that the indicator will render chart elements when first loaded as well as to allow the backtester to gather order executions and display performance summary. The strategy version is using $10,000 initial capital, a commission rate of 0.1% for both entries and exits, and a 1 tick slippage setting. It is also using 2.74506% of the equity with a Order Size Multiplier of 1.33, using 8 total DCA layers, and a take profit of 2% with no stop loss. All other settings are defaults.

It is recommended that the indicator be "tuned" for your specific market in order to best implement the price change strategy and obtain better desirable results. You do so by scrolling through the chart's history and observing moments when prices tend to move rapidly. Measure the number or bars it typcially takes for the price to change at a specific rate. Using this information, you can adjust the Price Change Settings accordingly to configure the indicator for the chart.

Always keep in mind that past performance may not be indicative of future results. Settings that seem favorable for one market may be found to be disastrous in another. Therefore, do take the time needed to understand how the settings will behave with the given chart symbol.

Enjoy! 😊👍

How to obtain access to the script?

You have two choices:

• Use the "Website" link below to obtain access to this indicator, or
  
• Send us a private message (PM) in TradingView itself.
  

27 wrz 2021

Informacje o Wersji

v1.0.16 - Patch Release

New features in this release:

Indicator Only:

• Added support for the new "Any alert() function call" alerts feature. This will allow for custom messages using custom placeholders.
  Custom placeholders are: {{exchange}}, {{ticker}}, {{base_currency}}, {{quote_currency}}, {{event_name}}, {{base_price}}, {{next_base}}, {{break_even_price}}, {{take_profit_price}}, {{stop_loss_price}},
  {{layer_1_price}}, {{layer_2_price}}, {{layer_3_price}}, {{layer_4_price}}, {{layer_5_price}}, {{layer_6_price}}, {{layer_7_price}}, {{layer_8_price}}, {{layer_9_price}}
  

28 wrz 2021

Informacje o Wersji

v1.0.17 - Patch Release

New features in this release:

Indicator Only:

• Added 'Take Profit Crossed (Long)' and 'Take Profit Crossed (Short)' alert message inputs with custom placeholder {{take_profit_price}} because the 'Exit Long Position' and 'Exit Short Position' alerts are too generic.
  
• Added 'Stop Loss Crossed (Long)' and 'Stop Loss Crossed (Short)' alert message inputs with custom placeholder {{stop_loss_price}} because the 'Exit Long Position' and 'Exit Short Position' alerts are too generic.
  

11 lis 2021

Informacje o Wersji

v1.0.18 - Patch Release

New features in this release:

Indicator & Strategy:

• Adding a "Trade Stop Date/Time" inputs-box to enable defining an active timeframe period.
  
• Adding a "billionth" and "ten billionth" options to the "Override Minimum Tick Precision" inputs-box to support exchanges (i.e. KuCoin) that support these precision levels.
  

Strategy Only:

• Adding a "Compounding" check-box to toggle compounding the entry order size by including accumulated Net Profits after each deal.
  
• Updated the default value for "Initial Capital" to "10 000" to accommodate symbols that have high valuations.
  
• Updated the default value for "Order size" to 0 in the "Properties" tab since "Entry Order Size" input is being used instead.
  

1 sty 2022

Informacje o Wersji

v1.0.19 - Patch Release

New features in this release:

Indicator & Strategy:

• Updated the default value of the "Trade Stop Date/Time" input to 2030-01-01.
  

9 wrz 2022

Informacje o Wersji

v1.0.20 - Patch Release

New fixes & features in this release:

• Added new "Link to TradingView Script" and "Link to Documentation" inputs to the "GENERAL INFO" section.
  
• Added "Show Profit/Loss Zones" and "Show Unrealized Profit/Loss Label" inputs to show or hide these new chart features.
  
• Adding the "Initial Capital" input to the "TRADE SETTINGS" section to support the new placeholders. (Indicator Only)
  
• Adding the "Entry Order Size", "Unit", and "Compounding" inputs to the "TRADE SETTINGS" section to support the new placeholders. (Indicator Only)
  
• Adding the new "Placeholder # Name" and "Value" inputs to the "ANY ALERT() FUNCTION CALL SETTINGS" section to support up to three additional custom placeholders for the alert messages. (Indicator Only)
  
• Adding new custom placeholders for the "Layer # Cracked Message" inputs. They are: {{layer_1_quote_volume}}, {{layer_2_quote_volume}}, etc. and {{layer_1_base_quantity}}, {{layer_2_base_quantity}}, etc. All layers 1 thru 9 have these new placeholders. (Indicator Only)
  
• Adding the new "Fixed Amount (Quote Currency)" option to the "Entry Order Size Unit" drop-down to the "TRADE SETTINGS" section to support the new placeholders.
  
• Adding more comparator operators to the "Is" input under the "Enable Trade Eligibility Condition" sub-section.
  
• Converted the alert message inputs to text area to support multi-line messages. (Indicator only)
  
• Fixed a defect where the "Max Entry Percent Cross" shape was not rendering when the condition was met.
  
• Replaced the Statistics Table settings with common settings used in other scripts.
  
• Updated some labels for improved clarity and also support for the Tradingview Assistant Chrome plug-in to export and import settings to and from CSV files.
  
• Updated the line style for the "Breakeven", "Take Profit", and "Stoploss" price lines from "Step line" to "Line with breaks" because step lines with breaks is no longer supported by TradingView.
  
• Upgraded the source code to version 5 of Pine Script.
  

13 kwi 2023

Informacje o Wersji

v1.0.21 - Patch Release

New fix in this release:

Indicator & Strategy:

• Fixed a defect where the Breakeven price was not being calculated correctly on bars that crossed the entry price and do not follow the trend.
  

2 lip 2023

Informacje o Wersji

v1.0.22 - Patch Release

New features in this release:

Indicator Only:

• Adding new custom placeholders for the "Enter Long Position" and "Enter Short Position" Message inputs. They are: {{entry_quote_volume}} and {{entry_base_quantity}}.