03.freeman

MTF stochastic strategy

This strategy is based on MTF strategy found on Forex Factory forum and published by bobby2 (credits to him).
This is quite simple but need improvement to work properly:
1- it is made for 5 min chart
2- when 15min stochastic cross above 50 and 5min stochastic is rising, buy
3- when 15min stochastic cross below 50 and 5min stochastic is falling, sell
Release Notes: Major update:
- Updated to pinescript version 4
- Now strategy works with any timeframe;
- MTF is calculated based on current timeframe: if current TF is 30min, MTF is set automatically to 60min;
- MTF stoch is smoothed using linear regression.

Overall performances are very good in terms of profit factor, drawdown and net profit.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Thanks for sharing, but have you found a solution for all the repainting? I turned this into a study with signal, completely different results. Cheers
+5 Reply
italo_1 chrisgermano
@chrisgermano, Hello - Can you share the fixed code for the study and with signals ?
+2 Reply
tienes más información, algún video?
Reply
There is a bug on this strategy. Strategy.exit is not set correctly. As a result, tradingview calculate exit strangely :
at the higher value of candle of same long entry candle
at the lowest value of candle for same short entry candle.

Of course then results look awesome.
Reply
Hello. I am not understand how to interpret "when 15min stochastic cross above 50 and 5min stochastic is rising, buy" and vice versa. I know what the 50 line is, but Which is the 15m line and the 5 m line? Which color? Can you help? thank you
Reply
Thank you, much appreciated!
Reply
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