Top FREE Tradingview strategy for Chainlink (LINK-PERP): FTX this week!
What we provide
Open-strategy source
Strategy adjustment for particular exchange, pair and timeframe
Backtest
Description
IMPORTANT
This is a trend strategy and works better in the trending market
The strategy has the trend identifier using the EMA and SMA interaction
The strategy is using Multiple Take profit levels
Settings
Input
Value
Period
43
Length
81
Mult
15
DI Length
14
DMI Benchmark
33
Long Take Profit 1%
3.5
Long Take Profit 1 Qty
15
Long Take Profy 2 %
6.1
Long Take Profit 2 Qty
100
Long Stop Loss %
4
Strategy script code
You can copy this code and paste it into your TradingView
//Original Idea by: Wunderbit Trading
//Original Idea by: Wunderbit Trading
//@version=4
strategy("Keltner Channel ETH/USDT 1H", overlay=true, initial_capital=3000,pyramiding = 0, currency="USD", default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent,commission_value=0.1)
/// TREND
ribbon_period = input(43, "Period", step=1)
leadLine1 = ema(close, ribbon_period)
leadLine2 = sma(close, ribbon_period)
// p3 = plot(leadLine1, color= #53b987, title="EMA", transp = 50, linewidth = 1)
// p4 = plot(leadLine2, color= #eb4d5c, title="SMA", transp = 50, linewidth = 1)
// fill(p3, p4, transp = 60, color = leadLine1 > leadLine2 ? #53b987 : #eb4d5c)
//Upward Trend
UT=leadLine2 < leadLine1
DT=leadLine2>leadLine1
///////////////////////////////////////INDICATORS
// KELTNER //
source = close
useTrueRange = input(true)
length = input(81, step=1, minval=1)
mult = input(2.4, step=0.1)
// Calculate Keltner Channel
ma = sma(source, length)
range = useTrueRange ? tr : high - low
rangema = sma(range, length)
upper = ma + rangema * mult
lower = ma - rangema * mult
plot(ma, title="Middle", color=color.orange)
p1=plot(upper, title="Upper", color=color.orange)
p2=plot(lower, title="Lower", color=color.orange)
fill(p1,p2)
// DMI INDICATOR //
adxlen = 10 // input(10, title="ADX Smoothing")
dilen = input(14, title="DI Length")
keyLevel = 23// input(23, title="key level for ADX")
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)
benchmark=input(title="DMI Benchmark", defval=33, minval=1,step=1)
// plot(sig, color=color.red, title="ADX")
// plot(up, style=plot.style_histogram, color=color.green, title="+DI")
// plot(down, style=plot.style_histogram, color=color.red, title="-DI")
// plot(keyLevel, color=color.white, title="Key Level")
///////////////////////////////////////////////////////////
////////////////////////////////////////////////////Component Code Start
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
///// Component Code Stop //////////////////////////////////////////
//////////////// STRATEGY EXECUTION //////////////////////////
//LONG SET UP
// Take Profit / Stop Loss
long_tp1_inp = input(3.5, title='Long Take Profit 1 %', step=0.1)/100
long_tp1_qty = input(15, title="Long Take Profit 1 Qty", step=1)
long_tp2_inp = input(6.1, title='Long Take Profit 2%', step=0.1)/100
long_tp2_qty = input(100, title="Long Take Profit 2 Qty", step=1)
long_take_level_1 = strategy.position_avg_price * (1 + long_tp1_inp)
long_take_level_2 = strategy.position_avg_price * (1 + long_tp2_inp)
long_sl_inp = input(4, title='Long Stop Loss %', step=0.1)/100
long_stop_level = strategy.position_avg_price * (1 - long_sl_inp)
// STRATEGY CONDITION
// LONG
entry_long = ((open > lower and open < upper) and close > upper) and up > down and up > benchmark and volume[0] > volume[1]
entry_price_long=valuewhen(entry_long,close,0)
SL_long = entry_price_long * (1 - long_sl_inp)
exit_long = (close < lower) or low < SL_long
// STRATEGY EXECUTION
if testPeriod()
// LONG
if UT
strategy.entry(id="Long", long=true, when=entry_long, comment = "INSERT ENTRY LONG COMMAND")
strategy.exit("TP1","Long", qty_percent=long_tp1_qty, limit=long_take_level_1) // PLACE TAKE PROFIT IN WBT BOT SETTINGS
strategy.exit("TP2","Long", qty_percent=long_tp2_qty, limit=long_take_level_2) // PLACE TAKE PROFIT IN WBT BOT SETTINGS
strategy.close(id="Long", when=exit_long, comment= "INSERT EXIT LONG COMMAND")
//PLOT FIXED SLTP LINE
// LONG POSITION
plot(strategy.position_size > 0 ? long_take_level_1 : na, style=plot.style_linebr, color=color.green, linewidth=1, title="1st Long Take Profit")
plot(strategy.position_size > 0 ? long_take_level_2 : na, style=plot.style_linebr, color=color.green, linewidth=1, title="2nd Long Take Profit")
plot(strategy.position_size > 0 ? long_stop_level : na, style=plot.style_linebr, color=color.red, linewidth=1, title="Long Stop Loss")
Follow this guide to automate your TradingView STRATEGY alerts. (no need for study script).
This crypto trading bot is using the Keltner strategy together with the trend based indicator and directional movement system. The stable profit that is achieved during the backtest is primarily linked with the combination of the accurate entry and the multiple take profits that can be easily set in Wunderbit Trading platform. This free bot can be easily automated at Wunderbit Trading using the TradingView strategy alerts. The detailed instruction and code is provided below.
