# Forex Master ### Top FREE TradingView strategy this week! To make our community more profitable we decided to start a series in which we will review open-source TradingView strategies. The aim of the review is to select a strategy (or a number of strategies) from TradingView and run a reality check on it, optimise them and convert into alerts, so you can set it up as a bot on Wunderbit Trading platform. ![Forex Master - free TradingView strategy](https://1298640921-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Lxzdw8maMUh98DLsWjS%2F-M9wTCNe113hVZ5t15-L%2F-M9wYcuucT-XE_gxKQZZ%2FForex%20Master.png?alt=media\&token=4c814364-30bb-465c-9c2c-76c80d30685a) ### What we will provide * Open-strategy source * Strategy adjustment for particular exchange, pair and timeframe * Backtest * Revised study script that you can apply in Wunderbit Trading platform for bot trading. {% embed url="" %} This week we found a nice strategy for a **30 min timeframe**. The original idea was taken from: [Koi\_Capital](https://www.tradingview.com/u/Koi_Capital/). Originally, this strategy was applied to a forex pair EUR/USD. Our team made some adjustment and improvements and we are happy to present this work to you. You will find the strategy code here: [Forex Master v4.0](https://www.tradingview.com/script/AIZqyS45-Forex-Master-v4-0-EUR-USD-Mean-Reversion-Algorithm/). {% hint style="info" %} **IMPORTANT!** * This is a trend strategy and works better in the uptrend * This strategy is only working for long positions * We added the trend identifier using the EMA and SMA interaction * Take profit and stop loss levels were converted into percentage * We added inputs for the period selection, so you could see how the strategy is performing on a monthly basis. {% endhint %} ### Settings – Applicable to [FTX](https://ftx.com/#a=2594970): BTC-PERP 30 min | **Variable** | Value | | ------------------ | ----- | | Period | 33 | | Length | 17 | | Mult | 1.7 | | ADX Smoothing | 1 | | DI Length | 77 | | Smoothed ADX1 | 7 | | Smoothed ADX2 | 14 | | Long Take Profit % | 6.4 | | Long Stop Loss% | 4.2 | ### **Revised strategy script code** You can copy this code and paste it into your TradingView**.** ``` // This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ // © Wunderbit Trading //@version=4 strategy("Forex Master v4.0", overlay=true, pyramiding=0, commission_type=strategy.commission.percent, commission_value=0.07, default_qty_type = strategy.percent_of_equity, default_qty_value = 100) Price = close ribbon_period = input(33, "Period", step=1) leadLine1 = ema(close, ribbon_period) leadLine2 = sma(close, ribbon_period) p1 = plot(leadLine1, color= #53b987, title="EMA", transp = 50, linewidth = 1) p2 = plot(leadLine2, color= #eb4d5c, title="SMA", transp = 50, linewidth = 1) fill(p1, p2, transp = 60, color = leadLine1 > leadLine2 ? #53b987 : #eb4d5c) Length = input(17, step=1) Mult = input(1.7, step=0.1) Basis = sma(Price, Length) StdDev = Mult * stdev(Price, Length) Upper = Basis + StdDev Lower = Basis - StdDev adxlen = input(1, title="ADX Smoothing") dilen = input(77, title="DI Length") dirmov(len) => up = change(high) down = -change(low) truerange = rma(tr, len) plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / truerange) minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / truerange) [plus, minus] adx(dilen, adxlen) => [plus, minus] = dirmov(dilen) sum = plus + minus adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen) [adx, plus, minus] [sig, up, down] = adx(dilen, adxlen) // plot(sig, color=color.red, title="ADX") // plot(up, color=color.blue, title="+DI") // plot(down, color=color.orange, title="-DI") SmoothedADX1 = ema(sig, input(7)) SmoothedADX2 = ema(sig, input(14)) long_tp_inp = input(6.4, title='Long Take Profit %', step=0.1)/100 long_sl_inp = input(4.2, title='Long Stop Loss %', step=0.1)/100 long_take_level = strategy.position_avg_price * (1 + long_tp_inp) long_stop_level = strategy.position_avg_price * (1 - long_sl_inp) entry_long = crossover(Price, Lower) and SmoothedADX1 < SmoothedADX2 and leadLine2leadLine1 ////// BACKTEST PERIOD /////// testStartYear = input(2019, "Backtest Start Year") testStartMonth = input(1, "Backtest Start Month") testStartDay = input(1, "Backtest Start Day") testPeriodStart = timestamp(testStartYear,testStartMonth,testStartDay,0,0) testStopYear = input(9999, "Backtest Stop Year") testStopMonth = input(12, "Backtest Stop Month") testStopDay = input(31, "Backtest Stop Day") testPeriodStop = timestamp(testStopYear,testStopMonth,testStopDay,0,0) testPeriod() => time >= testPeriodStart and time <= testPeriodStop ? true : false if testPeriod() strategy.entry("LongEntry", true, when = entry_long) strategy.exit("LongExit", "LongEntry", limit = long_take_level, stop = long_stop_level) strategy.close("LongEntry", when=exit_long) ``` ### **Revised study script code** You can copy this code and paste it into your TradingView**.** ``` // This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ // © Wunderbit Trading //@version=4 study("Forex Master v4.0", overlay=true) Price = close ribbon_period = input(33, "Period", step=1) leadLine1 = ema(close, ribbon_period) leadLine2 = sma(close, ribbon_period) p1 = plot(leadLine1, color= #53b987, title="EMA", transp = 50, linewidth = 1) p2 = plot(leadLine2, color= #eb4d5c, title="SMA", transp = 50, linewidth = 1) fill(p1, p2, transp = 60, color = leadLine1 > leadLine2 ? #53b987 : #eb4d5c) Length = input(17, step=1) Mult = input(1.7, step=0.1) Basis = sma(Price, Length) StdDev = Mult * stdev(Price, Length) Upper = Basis + StdDev Lower = Basis - StdDev adxlen = input(1, title="ADX Smoothing") dilen = input(77, title="DI Length") dirmov(len) => up = change(high) down = -change(low) truerange = rma(tr, len) plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / truerange) minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / truerange) [plus, minus] adx(dilen, adxlen) => [plus, minus] = dirmov(dilen) sum = plus + minus adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen) [adx, plus, minus] [sig, up, down] = adx(dilen, adxlen) // plot(sig, color=color.red, title="ADX") // plot(up, color=color.blue, title="+DI") // plot(down, color=color.orange, title="-DI") SmoothedADX1 = ema(sig, input(7)) SmoothedADX2 = ema(sig, input(14)) long_tp_inp = input(6.4, title='Long Take Profit %', step=0.1)/100 long_sl_inp = input(4.2, title='Long Stop Loss %', step=0.1)/100 isEntry_Long = false isEntry_Long := nz(isEntry_Long[1], false) isExit_Long = false isExit_Long := nz(isExit_Long[1], false) entry_long =not isEntry_Long and (crossover(Price, Lower) and SmoothedADX1 < SmoothedADX2 and leadLine2leadLine1) or high > TP_long or low < SL_long ) if (entry_long) isEntry_Long := true isExit_Long := false if (exit_long) isEntry_Long := false isExit_Long := true alertcondition(entry_long, title="Enter Long") alertcondition(exit_long, title="Exit Long") plotshape(series=entry_long, text="BUY", style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small) plotshape(series=exit_long, text="EXIT BUY",style=shape.triangledown, location=location.abovebar, color=color.purple, size=size.small) ```