Strategy basically uses existing script of Fix by Chris Moody:
VixFix is a great indicator for finding the market bottoms. But, sometimes it generates signal too early. But, we can apply on fix to find fix top to make timing much better.
- Wait for fix bar to turn lime.
- Once fix is turned lime, then wait for (shown below 0) to turn lime from green. This indicates VIX-Fix has started declining.
- Go long once above two conditions are satisfied
Note: This is ideal for identifying market bottom. May not yield good results on individual stocks.
I sann TradingView-anda har författaren till detta skript publicerat det som öppen källkod, så att handlare kan förstå och verifiera det. Skål för författaren! Du kan använda den gratis men återanvändning av den här koden i en publikation regleras av våra Ordningsregler. Du kan göra den till favorit för att använda den i ett diagram.
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I really love this idea it is awesome! Thanks for your contribution :)
When using the original script from Chris Moody, I tweak some parameters and it became much more accurate. He had recommended this in the description because the initial ones were designed for Intraday.
So, I tweak those same parameters in the Bottom Finder of your script, but I was wondering if there were parameters that could be exposed to further tweak the linear regression part (some of the entries are too late or lead to negative returns). It is a very good script though, just asking by curiosity.
Thank you again :)
For linear regression, I think only thing you can control is Period - which is same for standard deviation calculator as well. I can add separate parameter for that if that helps.
Also, check my recent script which is similar but uses moving average candles instead of OHLC.
For your other script, I actually tried it first, but I need to wrap my head around it. The first thing is that not all parameters of the bottom finder are there so I would need to re-think my tweaking.
And the second thing is that I still don't fully understand how to use it. But I am definitely considering it.
It too looks awesome! Thanks :)
Do you mind sharing your settings that you tweaked? and on which timeframe you look at? Thanks