Someone sent me this strategy found on YouTube. It is Soheil PKO's "The Best and Most Profitable Scalping Strategy" Best way to find out is to code it =)
This strategy uses Moving Average Ribbon, Laguerre RSI, and ADX. This script only displays the MA ribbon, you will need to add Laguerre RSI and ADX separately.
Long Entry Criteria: - 16 EMA > 48 EMA > 200 SMA - Laguerre RSI > 80 - ADX > 20
Long Exit Criterion: - 16 EMA < 48 EMA
Short Entry Criteria: - 16 EMA < 48 EMA < 200 SMA - Laguerre RSI < 20 - ADX > 20
Short Exit Criterion: - 16 EMA > 48 EMA
As mentioned in the video, risk management is very important, especially for scalping strategies. Therefore, I've added option for setting Stop Loss and Price Target in the options for you guys to play with.
All parameters are configurable.
Enjoy~~
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Added options for 1 entry per trigger for using fixed SL / PT
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Updated with options to change entry threshold for LaRSI
Thanks your doing. Let me comment for well; i think you should change "- Laguerre RSI > 80" to - "Laguerre RSI > 20" for long position. And reverse for short position couse you use ADX > 20. So you can get the entry and exit points earlier. EMA SMA settings can already be changed. Regards.
PtGambler
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@CryptoZooms, cool~! as long as it works for you~ best of luck on your trades :)
CryptoZooms
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@PtGambler, thanks but i will have to change the code because it is not adjustable by default. For friends who can't change, maybe you can think of a revision. Or if you let me I can refer you and change it. good luck.
PtGambler
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@CryptoZooms, ah gotcha~ sorry i misunderstood. It has been updated now. Check it out. Cheers~
CryptoZooms
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@PtGambler, thank you for but i think we need to add "Laguerre RSI 0,8" for short option like Laguerre RSI_L, Laguerre RSI_ S; right?
CryptoZooms
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@PtGambler, you have adjusted. Thank you very much. Also, can you leave the use of ADX to the user? could you please. Because it can be late to follow the price from time to time. If possible, I will share a perfectly profitable settings with friends, thanks to you. Respects
CryptoZooms
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@PtGambler, and SMA/EMA option for bigest moving avarege. If it's possible.
ahsan4277
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hi man did you find it profitable and if so what are your settings and assets great job coding it but is the strategy profitable or just to get views on youtube
PtGambler
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@ahsan4277, I personally don't use it~ it's just an early work for me to practise coding~ At the time this script was published, it seems profitable. However, what I've learned over time is that strategies that rely on specific settings on these type of 'retail' tools may seem profitable in backtesting within a certain lookback period, they often tend to fail in forward testing. That is because they are usually overfitting the historical price actions to give good looking backtest results. These type of retail tools are great for confluences, extra checks on your trading decisions. In professional trading, I would recommend staying with market structures, market internals, and volume based tools such as volume profiles. With that said, please use this strategy at your own discretion.
ahsan4277
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@PtGambler, hi i thanks for your advice you are can i dm you if i require some assistance in coding