This indicator modifies the SlingShot System by Chris Moody to allow it to be based on 'any' Fast and Slow moving average pair. Open Long / Close Long / Open Short / Close Short alerts can be generated for automated bot trading based on the SlingShot strategy: • Conservative Entry = Fast MA above Slow MA, and previous bar close below Fast MA, and current price above Fast MA • Conservative Entry = Fast MA below Slow MA, and previous bar close above Fast MA, and current price below Fast MA • Aggressive Entry = Fast MA above Slow MA, and price below Fast MA • Aggressive Exit = Fast MA below Slow MA, and price above Fast MA
Entries and exits can also be made based on moving average crossovers, I initially put this in to make it easy to compare to a more standard strategy, but upon backtesting combining crossovers with the SlingShot appeared to produce better results on some charts. Alerts can also be filtered to allow long deals only when the fast moving average is above the slow moving average (uptrend) and short deals only when the fast moving average is below the slow moving averages (downtrend).
If you have a strategy that can buy based on External Indicators you can use the 'Backtest Signal' which plots the values set in the 'Long / Short Signals' section.
The Fast, Slow and Signal Moving Averages can be set to: • Simple Moving Average (SMA) • Exponential Moving Average (EMA) • Weighted Moving Average (WMA) • Volume-Weighted Moving Average (VWMA) • Hull Moving Average (HMA) • Exponentially Weighted Moving Average (RMA) (SMMA) • Linear regression curve Moving Average (LSMA) • Double EMA (DEMA) • Double SMA (DSMA) • Double WMA (DWMA) • Double RMA (DRMA) • Triple EMA (TEMA) • Triple SMA (TSMA) • Triple WMA (TWMA) • Triple RMA (TRMA) • Symmetrically Weighted Moving Average (SWMA) ** length does not apply ** • Arnaud Legoux Moving Average (ALMA) • Variable Index Dynamic Average (VIDYA) • Fractal Adaptive Moving Average (FRAMA)
'Backtest Signal' and 'Deal State' are plotted to display.none, so change the Style Settings for the chart if you need to see them for testing.
Yes I did choose the name because 'It's Amasling!'
A quick test with 'Zendog V3 DCA' backtester on Binance:BTCBUSD 1hr, longing only on Conservative SlingShot Entry and selling on Conservative SlingShot Exit, with the standard SlingShot settings gave these results: AMASling - All Moving Average Sling Shot (EMA, close, 38, EMA, close, 62, 1, 2, -1, -2, 0.85, 6, 1, 198) Net Profit 148.20 Total Closed Trades 69 Percent Profitable 31.88 % Profit Factor 1.853 Max Drawdown 26.37 % Avg Trade 2.15 % Avg # Bars in Trade 167
After a few minutes looking at some non-standard moving averages, but still longing only on Conservative SlingShot Entry and selling on Conservative SlingShot Exit I got these results in the backtester: AMASling - All Moving Average Sling Shot (VIDYA, close, 44, Double EMA, close, 73, 1, 2, -1, -2, 0.85, 6, 1, 198) Net Profit 353.68 % Total Closed Trades 62 Percent Profitable 50 % Profit Factor 5.903 Max Drawdown 10.33 % Avg Trade 5.69 % Avg # Bars in Trade 185
If Zendog's V3 could simulate long and shorts at the same time based on the these settings the Shorts would be at +98.74% and Longs at +359.24%. This is of course just my initial investigation and not something I would immediately create bots to trade on. Both of these backtest results would have produced losses if restricted to 2022 and later. As we're seeing in almost all backtesting, past performance is no guarantee of future performance, especially right now!
AMASling - All Moving Average Sling Shot (EMA, close, 38, EMA, close, 62, 1, 2, -1, -2, 0.85, 6, 1, 198)
Net Profit 148.20
Total Closed Trades 69
Percent Profitable 31.88 %
Profit Factor 1.853
Max Drawdown 26.37 %
Avg Trade 2.15 %
Avg # Bars in Trade 167
After a few minutes looking at some non-standard moving averages, but still longing only on Conservative SlingShot Entry and selling on Conservative SlingShot Exit I got these results in the backtester:
AMASling - All Moving Average Sling Shot (VIDYA, close, 44, Double EMA, close, 73, 1, 2, -1, -2, 0.85, 6, 1, 198)
Net Profit 353.68 %
Total Closed Trades 62
Percent Profitable 50 %
Profit Factor 5.903
Max Drawdown 10.33 %
Avg Trade 5.69 %
Avg # Bars in Trade 185
If Zendog's V3 could simulate long and shorts at the same time based on the these settings the Shorts would be at +98.74% and Longs at +359.24%. This is of course just my initial investigation and not something I would immediately create bots to trade on. Both of these backtest results would have produced losses if restricted to 2022 and later. As we're seeing in almost all backtesting, past performance is no guarantee of future performance, especially right now!