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kevinmck100

SSL + Wave Trend Strategy

kevinmck100  
Exponential Moving Average (EMA) Keltner Channels (KC) Average True Range (ATR) strategy backtest wavetrend sslchannel sslhybrid keltnerchannel ATR riskmangement backtesting
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ema keltnerchannels averagetruerange strategy backtest wavetrend sslchannel sslhybrid keltnerchannel atr riskmangement backtesting
Strategy incorporates the following features:

Risk management:
  • Configurable X% loss per stop loss
  • Configurable R:R ratio

Trade entry:
  • Based on strategy conditions below

Trade exit:
  • Based on strategy conditions below

Backtesting:
  • Configurable backtesting range by date

Trade drawings:
  • Each entry condition indicator can be turned on and off
  • TP/SL boxes drawn for all trades. Can be turned on and off
  • Trade exit information labels. Can be turned on and off
  • NOTE: Trade drawings will only be applicable when using overlay strategies

Alerting:
  • Alerts on LONG and SHORT trade entries

Debugging:
  • Includes section with useful debugging techniques

Strategy conditions

Trade entry:
LONG
  • C1: SSL Hybrid baseline is BLUE
  • C2: SSL Channel crosses up (green above red)
  • C3: Wave Trend crosses up (represented by pink candle body)
  • C4: Entry candle height is not greater than configured threshold
  • C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
  • C6: Take Profit target does not touch EMA (represents resistance)
SHORT
  • C1: SSL Hybrid baseline is RED
  • C2: SSL Channel crosses down (red above green)
  • C3: Wave Trend crosses down (represented by orange candle body)
  • C4: Entry candle height is not greater than configured threshold
  • C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
  • C6: Take Profit target does not touch EMA (represents support)

Trade exit:
  • Stop Loss: Size configurable with NNFX ATR multiplier
  • Take Profit: Calculated from Stop Loss using R:R ratio

Credits

Strategy is based on the YouTube video "This Unique Strategy Made 47% Profit in 2.5 Months " by TradeSmart.

It combines the following indicators to determine trade entry/exit conditions:
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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