FRAMA Strategy I found this strategy on internet, in a well-known forex forum. I have translated the two indicators mentioned in that strategy (originally in mq4) in pine script. Thanks to Fractured and Shizaru for the FRAMA snippets, to mejialucas for Supertrend snippet, to JayRogers for trade management snippet and to Trost for backtesting snippet. I also added some code to have FRAME with a deiiferent timeframe Indicators set-up: FRAMA period 24 (it was originally 25 but it's better to use an even number) FRAMA timefarme lower then chart timeframe (e.g. daily chart and weekly FRAMA) Supertrend indicator as it is.
Of course, it is better to adapt above setting to traded instrument.
Long/Buy rules: 1 - Enter at crossover between FRAMA and its signal 2 - Option to filter entries based on supertrend signal 3 - Exit when Supertrend change direction; 4 - Exit long when short signal occurs;
Short/Sell rules: 1 - Enter at crossunder between FRAMA and its signal 2 - Option to filter entries based on supertrend signal 3 - Exit when Supertrend change direction; 4 - Exit short when long signal occurs;
VERY IMPORTANT NOTE: this is a trend following strategy, so the target is to stay in the trade as much as possible (drawdown my be high). If your trading style is more focused on scalping and/or pullbaks, this strategy is not for you.
Credits to who developed this startegy (google it).
Thanks to all pinescripters mentined in the code for their snippets.
I have also a study with alerts.
Please use comment section for any feedback or contact me if you need support.
Hi freeman!
first of all, thank you for coding such an amazing indicator,
I want to connect this to my 3commas account for automated trading,
how can I set up a custom buy/sell alert?
Flopp
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To check if it is repainting:
1) Put the indicator setting on a different timeframe than the one on your chart. (Chart 1D and Frama 1W for example)
2) Push the rewind button, choose a point in time and manually click forward until you see a trade.
3) Mark the trades with lines or symbols.
4) After you have marked a couple of trades, exit the rewind mode (this updates the candles).
5) Check if the trades you have marked are still there. If they are not, it is a repinter unfit for backtesting.
FRAMA - Supertrend strategy is indeed a repinter during multiple time frames. It will keep the winners and delete many of the loosers.