MacD Short and/or Long with Bi-Directional TP and SL
This tool allows you to test any variable value for MacD and Signal for going Long or Short with each market direction having customizable values for stop loss and take profit.
For example, sometimes the MacD and Signal values are better with different lengths between Short and Long. You can use this tool to see them overlaid and determine the best settings for going one direction or the other.
This script was preset for use with XBTUSD on the 4 hour time frame. Another example with this in mind, is take profits and stop losses might not work in the Long market direction but going Short does! Without this tool that would be hard to see since typically stop loss and take profit is applied to both directions. I found with this tool that a 20% take profit seems to be a good sweet spot for going short with this strategy.
You can customize which MacD histogram you see by going to the style section and turning off the Short or Long parameters so you can see only 1 histogram at a time if you wish.
If you have any questions, please PM me.
For example, sometimes the MacD and Signal values are better with different lengths between Short and Long. You can use this tool to see them overlaid and determine the best settings for going one direction or the other.
This script was preset for use with XBTUSD on the 4 hour time frame. Another example with this in mind, is take profits and stop losses might not work in the Long market direction but going Short does! Without this tool that would be hard to see since typically stop loss and take profit is applied to both directions. I found with this tool that a 20% take profit seems to be a good sweet spot for going short with this strategy.
You can customize which MacD histogram you see by going to the style section and turning off the Short or Long parameters so you can see only 1 histogram at a time if you wish.
If you have any questions, please PM me.
-=Gentleman Goat=- Download the TradingView Input Optimizer at tradingtools.software/optimizer
Discord: discord.gg/pGHHRczpbu
Discord: discord.gg/pGHHRczpbu