Forex Master

Forex Master - free TradingView bot strategy and study.

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.

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.

This week we found a nice strategy for a 30 min timeframe. The original idea was taken from: 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.

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.

Settings – Applicable to FTX: BTC-PERP 30 min

Variable

Value

Period

Length

Mult

1.7

ADX Smoothing

DI Length

Smoothed ADX1

Smoothed ADX2

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 leadLine2<leadLine1
exit_long =  crossunder(Price, Upper) and SmoothedADX1 < SmoothedADX2 and leadLine2>leadLine1


////// 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 leadLine2<leadLine1)
entry_price_long=valuewhen(entry_long,close,0)
TP_long = entry_price_long * (1 + long_tp_inp)
SL_long = entry_price_long * (1 - long_sl_inp)
exit_long = not isExit_Long and ((crossunder(Price, Upper) and SmoothedADX1 < SmoothedADX2 and leadLine2>leadLine1) 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)

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// 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 leadLine2<leadLine1 exit_long = crossunder(Price, Upper) and SmoothedADX1 < SmoothedADX2 and leadLine2>leadLine1 ////// 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)

// 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 leadLine2<leadLine1) entry_price_long=valuewhen(entry_long,close,0) TP_long = entry_price_long * (1 + long_tp_inp) SL_long = entry_price_long * (1 - long_sl_inp) exit_long = not isExit_Long and ((crossunder(Price, Upper) and SmoothedADX1 < SmoothedADX2 and leadLine2>leadLine1) 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)