Crypto Wave Rider Indicator - Bitcoin & Crypto Signaler

After months of research and testing, I have developed the first public beta of my Crypto trading script.

Note the following:

1.) This algo works best with /USD pairings (e.g. ETH/USD). Doesn't work as well with /BTC pairings (e.g. ETH/BTC ). I believe this is because USD is stable and allows for better data (rather than comparing two very volatile assets to each other).

2.) This algo works best on swing trading time frames (4 hour - 12 hour) but can also be used on lower time frames (although lower than 1 hr is not recommended). For reference, I've found the best time frames to be as follows: BTC - 6 hour, LTC - 4 hour, ETH - 12 hr

So far, the results have been far better than the other bots/indicators I've come across.

This indicator has been optimized for use on Bitcoin with 6 hour candles just because Bitcoin is the oldest crypto & has the most backtesting data available. And 6 hour time frame because I prefer swing trading over day trading.

Feel free to test on different time frames and coins to see what gets the best results.

Comments and feedback appreciated!!

************Note: Please do not ask me for the source code. It is protected for a reason....I won't be giving it out to anyone.*************
Release Notes: Updates:

  • Added ability to set normal stop loss % below buy price
  • Added ability to set trailing stop loss %
  • Added additional sell criteria for improved performance
Release Notes: New release : V2
Release Notes: New Release: V2
Release Notes: Additional sell criteria added
Release Notes: Uploaded wrong version before....minor patch
Release Notes: V3 Updates:

  • Refined buy/sell criteria for improved performance
  • Added option to set volatility based trailing stop - based on ATR (although I don't use it personally...just giving people an extra option in case they want to use it)
  • Added ability to show most recent support/resistance levels based on most recent swing high / swing low (note: keep in mind that not every single pivot point is a true support/resistance level, but often it is)
  • Added optional setting to "Buy the Dip" (note: this is an aggressive choice but can be very profitable depending on the coin & time frame....test both on/off and see what backtests better)
  • Minor patches

Note: If you find a certain combination of time frame / coin that seems to be very profitable, I would appreciate if you post it in the comments below!
Release Notes: Made "Buy the Dip" criteria stricter
Release Notes: Update:

> Refined pivot criteria
Release Notes: Minor patches
Release Notes: Massive Update to the algorithm to catch more dips
Release Notes
Release Notes: Refined oversold criteria
Release Notes: added option to turn on/off plots of stop losses
Release Notes
Release Notes: Updated parameters
Release Notes
Release Notes
Release Notes: Updated buy criteria to provide more flexibility
Release Notes: Made buy criteria less conservative, to increase overall profit potential although win rate is lower. (For example I would rather take 10 trades and win 6 rather than take 2 trades and win 2 but make less overall)
Release Notes: Improved sell criteria
Release Notes: Made pivot lines larger at higher highs (green) and lower lows (red)
Release Notes: Donations:

BTC - 1E6rD3pn3B6xEaKFGv71XG5YtHhESfDFwm
ETH - 0x492A7743492BB592DC81789A837eEd1F6c2d81a5
Release Notes: Even better....
Release Notes
Release Notes
Release Notes: Major Update:

> Added additional optional criteria to confirm buy signals. These can be switched on/off in the settings. Default settings are set to work best for BTC 6 hr chart.
> Added option to turn on/off bar coloring
> Added ability to use 1 hour activity to confirm buy signals. NOTE: this means that you cannot use this script for backtesting with 1 hour chart or lower, or else you will encounter issues with strategy repainting

If you've already added this script to one of your charts, please remember to remove the script and re-add it so you'll have the latest version.
Release Notes: Reorganized inputs in settings
Release Notes: Added more optional parameters
Release Notes: Updated logic to account for volatility
Release Notes: Added HMA
Release Notes: Added logic to prevent from selling when already very oversold....improved overall performance
Release Notes: Update: Made significant changes to reduce over-optimizing / curve fitting. Now it can be used on many more time frames and pairings. Adjust the settings depending on your risk tolerance.
Release Notes: This script is no longer public, as I have made a major upgrade which has taken me over 1 year of development and I simply cannot give it away for free....for access, please send a PM.
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UPDATE FEB 2019: This script is no longer free to the public, as I have spent over 6 months developing a powerful new update which works for even more markets, and even in a sideways or bear market. For access, please contact me directly.
How's it going Janor - I saw your FB post on 51pc a while back and this signal looks (/looked :P) promising (and easy to use for an amateur like myself)

But! When i add the wave rider signal to my charts now i'm seeing a lot of info on there that i'm not quite sure i understand right.

Is there a reason why the candles are coloured yellow / green / red?

What's the significance of the red dotted lines and green dotted lines and how are they to be used in conjunction with the signals?

Finally, how do i modify the settings other than right clikcing and hitting format? (I can't code, btw!)

Thanks for your hard work.
@fidr0, look in the settings (little gear icon). Everything is explaining in parenthesis next to each setting.
can i get alets for this please
@mushoid, unfortunately there is no way to add alerts to strategies in TradingView, only studies. Studies do not allow for the functionality which is needed for this script.
mushoid janor123
@janor123, you have any with alerts?
Hello, thank you for sharing this script the back testing looks very good! May I have access to this script? Thank you.
janor123 hunteratkins
@hunteratkins, read the description above
@janor123, Sorry didn't see that, but thanks for sharing this script anyways. I've been testing out scripts for the crypto market still haven't found anything that is sustainable in profitability over month to month periods.
+2 Reply
janor123 hunteratkins
@hunteratkins, ya man, hope it works. just test it out on different time frames and coins and see what works best for you
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