OPEN-SOURCE SCRIPT

Big Snapper Alerts R3.0 + Chaiking Volatility condition + TP RSI

מעודכן
//version=5
//
// Bannos
// #NotTradingAdvice #DYOR
// Disclaimer.
// I AM NOT A FINANCIAL ADVISOR.
// THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
// ALWAYS DO YOUR OWN RESEARCH
//
// Author: Adaptation from JustUncleL Big Snapper by Bannos
// Date: May-2022
// Version: R1.0

//Description of this addon - Script using several new conditions to give Long/short and SL levels which was not proposed in the Big Snapper strategy "Big Snapper Alerts R3.0"
//"
//This strategy is based on the use of the Big Snapper outputs from the JustUncleL script and the addition of several conditions to define filtered conditions selecting signal synchrones with a trend and a rise of the volatility.
//Also the strategy proposes to define proportional stop losses and dynamic Take profit using an RSI strategy.

// After delivering the temporary ong/short signal and ploting a green or purple signal, several conditions are defined to consider a Signal is Long or short.
//Let s take the long signal as example(this is the same process with the opposite values for a short).
//step 1 - Long Definition:
// Snapper long signal stored in the buffer variable Longbuffer to say that in a close future, we could have all conditions for a long
// Now we need some conditions to combine with it:
//the second one is to be over the Ma_medium(55)
//and because this is not selective enough, the third one is a Volatility indicator "Chaikin Volatility" indicator giving an indication about the volatility of the price compared to the 10 last values
// -> Using the volatility indicator gives the possibility to increase the potential rise if the volatility is higher compared to the last periods.
//With these 3 signals, we get a robust indication about a potential long signal which is then stored in the variable "Longe"

//Now we have a long signal and can give a long signal with its Stop Loss
// The Long Signal is automatically given as the 3 conditions above are satisfied.
// The Stop loss is a function of the last Candle sizes giving a stop below the 70% of the overall candle which can be assimilated to a Fibonacci level. Below this level it makes sense to stop the trade as the chance to recover the complete Candle is more than 60%

//Now we are in an open Long and can use all the mentioned Stop loss condition but still need a Take Profit condition
//The take profit condition is based on a RSI strategy consisting in taking profit as soon as the RSI come back from the overbought area (which is here defined as a rsi over 70) and reaching the 63.5 level to trigger the Take Profit
//This TP condition is only active when Long is active and when an entry value as been defined.

//Entry and SL level appreas as soon as a Long or short arrow signal does appears. The Take profit will be conidtioned to the RSI.

//The final step in the cycle is a reinitialization of all the values giving the possibility to detect and treat any long new signal coming from the Big Snapper signal.
הערות שחרור
SL added on shorts
הערות שחרור
Buffer reinit condition to skip a long activated after a short signal has appeared.
הערות שחרור
hide MAs
adapt volatility trigger to be more reactive
הערות שחרור
SL level update giving a better return
הערות שחרור
long and short signal condition added: signals only for the trend.
הערות שחרור
better results with both direction independently from the overal trend.
Just let the slow MA as indication but still show signals as the signal are acc. to the trigger EMA 55 for the considered timeframe.
הערות שחרור
better win rate with a volatility trigger at -9 than -40 and higher avg %
הערות שחרור
10% better avg % using a rsi lenght of 15 instead of 11. giving a lower reactivity but more profitable.
הערות שחרור
new rsi lenght required a threshold chamges
הערות שחרור
71 29 allow higher avg %
הערות שחרור
trigger to close trade adapted
הערות שחרור
restructuration to get the close before the entry
הערות שחרור
strucuture daptation
הערות שחרור
wording
הערות שחרור
Update
Added:
- RVWAP to better define the trend relatively to the EMA89
- Volatility Oscillator to detect only high volatility singals
הערות שחרור
Name changed
הערות שחרור
shape changed
הערות שחרור
Super Trend Oscillator condition added
הערות שחרור
close on supertrend oscillator condition a dded
הערות שחרור
plot retired
Exponential Moving Average (EMA)VolatilityVolume Weighted Average Price (VWAP)

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