MTF Stochastic – trading bot for Binance Futures

MTF Stochastic - free TradingView bot strategy for Binance Futures.

Top FREE Tradingview strategy For Binance 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 free trading bot on Wunderbit Trading platform.

What we provide

  • Open-strategy source

  • Strategy adjustment for particular exchange, pair and timeframe

  • Backtest

Description

This week we found a free stochastic indicator strategy for a 30 min time frame working for long and short entries for BTC futures on Binance Exchange. The original idea was taken from 03.freeman. Follow this guide to set up a free Binance bot.

You will find the original strategy code here: MTF stochastic strategy.

IMPORTANT

  • This is a trend strategy and works better in the trending market

  • We added the trend identifier using the EMA and SMA interaction

  • We Added Take profit and stop loss levels

  • We added inputs for the period selection, so you could see how the strategy is performing on a monthly basis.

Settings

Applicable to Binance Futures: BTC-Futures 30 min

Revised strategy script code

You can copy this code and paste it into your TradingView.

//Updated by: Wunderbit Trading
//Original Idea by: 03.freeman

//@version=4
strategy("MTF stochastic strategy", overlay=true, pyramiding=3, commission_type=strategy.commission.percent, commission_value=0.07, default_qty_type = strategy.percent_of_equity, default_qty_value = 100, currency = currency.USD )
//
len_long = input(22, minval=1, title="Long Length for Main Stochastic")
smoothK_long = input(11, minval=1, title="Long SmoothK for Main Stochastic")
smoothD_long = input(18, minval=1, title="Long SmoothD for Main Stochastic")
upLine_long = input(72, minval=50, maxval=90, title=" Long Upper Line Value?")

// current stochastic calculation long
k_long = sma(stoch(close, high, low, len_long), smoothK_long)
d_long = sma(k_long, smoothD_long)

//mtf stochastic calculation smoothed with period long
MTF_period_long= timeframe.period=='5'?'1':timeframe.period=='15'?'5':timeframe.period=='30'?'15':timeframe.period=='60'?'30':timeframe.period=='240'?'60':timeframe.period=='D'?'240':timeframe.period=='W'?'D':'M'
mtfK_long = linreg(security(syminfo.tickerid,MTF_period_long, sma(stoch(close, high, low, len_long), smoothK_long)),len_long,0)
mtfD_long = linreg(security(syminfo.tickerid,MTF_period_long, sma(k_long, smoothD_long)),len_long,0)

len_short = input(55, minval=1, title="Short Length for Main Stochastic")
smoothK_short = input(32, minval=1, title="Short SmoothK for Main Stochastic")
smoothD_short = input(12, minval=1, title="Short SmoothD for Main Stochastic")
lowLine_short = input(15, minval=10, maxval=50, title=" Short Lower Line Value?")

// current stochastic calculation long
k_short = sma(stoch(close, high, low, len_short), smoothK_short)
d_short = sma(k_short, smoothD_short)

//mtf stochastic calculation smoothed with period long
MTF_period_short= timeframe.period=='5'?'1':timeframe.period=='15'?'5':timeframe.period=='30'?'15':timeframe.period=='60'?'30':timeframe.period=='240'?'60':timeframe.period=='D'?'':timeframe.period=='W'?'D':'M'
mtfK_short = linreg(security(syminfo.tickerid,MTF_period_short, sma(stoch(close, high, low, len_short), smoothK_short)),len_short,0)
mtfD_short = linreg(security(syminfo.tickerid,MTF_period_short, sma(k_short, smoothD_short)),len_short,0)



//long_tp_inp = input(0.5, title='Long Take Profit %', step=0.1)/10
long_sl_inp = input(3.4, title='Long Stop Loss %', step=0.1)/100
long_trailing = input(1.1, title='Trailing Stop Long', 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)


//short_tp_inp = input(0.5, title='Short Take Profit %', step=0.1)/100
short_sl_inp = input(2.3, title='Short Stop Loss %', step=0.1)/100
short_trailing = input(1.1, title='Trailing Stop short', step=0.1) / 100

//short_take_level = strategy.position_avg_price * (1 - short_tp_inp)
short_stop_level = strategy.position_avg_price * (1 + short_sl_inp)


/// STRATEGY CONDITIONS ///


entry_long = crossover(mtfK_long, 50) and k_long > 50 and change(k_long, 1) > 0 and k_long > d_long and mtfK_long > mtfD_long
entry_price_long=valuewhen(entry_long,close,0)
exit_long = crossunder(mtfD_long, upLine_long)


entry_short = crossunder(mtfD_short, 50) and k_short < 50 and change(k_short, 1) < 0 and k_short < d_short and mtfK_short < mtfD_short
entry_price_short=valuewhen(entry_short,close,0)
exit_short = crossunder(mtfK_short, lowLine_short)


/// 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(2020, "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

//// STRATEGY EXECUTION ////

if testPeriod()
    if strategy.position_size == 0 or strategy.position_size > 0
        strategy.entry(id="Long", long=true, when=entry_long, comment="Enter Long Comment")
    strategy.exit("Take Profit/ Stop Loss","Long", stop=long_stop_level,trail_points=entry_price_long * long_trailing / syminfo.mintick, trail_offset=entry_price_long * long_trailing / syminfo.mintick, comment="Exit Long Comment")
    strategy.close(id="Long", when=exit_long, comment = "Exit Long Comment")

    if strategy.position_size == 0 or strategy.position_size < 0
        strategy.entry(id="Short", long=false, when=entry_short, comment = "Enter Short Comment")
    strategy.exit("Take Profit/ Stop Loss","Short", stop=short_stop_level, trail_points=entry_price_short * short_trailing / syminfo.mintick, trail_offset=entry_price_short * short_trailing / syminfo.mintick, comment = "Exit Short Comment")
    strategy.close(id="Short", when=exit_short, comment = "Exit Short Comment")

Follow this guide to automate your TradingView STRATEGY alerts. (no need for study script).

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