SPX Trading Strategy for ThinkorSwim

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Hypoluxa said:
Here's something I just saw - Using the MACDBB settings from this strategy....SPX on the daily chart stands a chance to dip all the way below the MACDBB zero line for only the 3rd time in a year, if you don't count the COVID crash. Or for only the 3rd time in a year, it could also bounce to green.
https://imgur.com/a/bWkxvSS
Click to expand...
Hi Hypoluxa, first, thank you for this strategy and the writeups. You have this SPX now on the daily chart and I noticed your inputs for the MACDBB is different. You are now using inputs of 10, 1.0, 8,16,36 instead of your original 30, 0.5, 8,16,36. Is there a reason why? When I used the original settings on the SPX daily, the signals were not that good. Thanks for your input.
 

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Tradervic said:
barbaros, thank you for your tweaks. Its easier on the eyes. Wondering if you could design a strategy using Hypoluxa's method so that we can see what the returns are on 10 minute and other time frames and on different stocks?
Click to expand...
Hey @Tradervic. It’s on my list for this weekend. I’ll post the update on Sunday if I get enough screen time.
 
Tradervic said:
Hi Hypoluxa, first, thank you for this strategy and the writeups. You have this SPX now on the daily chart and I noticed your inputs for the MACDBB is different. You are now using inputs of 10, 1.0, 8,16,36 instead of your original 30, 0.5, 8,16,36. Is there a reason why? When I used the original settings on the SPX daily, the signals were not that good. Thanks for your input.
Click to expand...
I'm not using the daily as a timeframe....it was only for the observation that I posted for. I'm still using 10mins.
As for the 10 and 1.0...IDK why I changed it...but it has no bearing on the overall MACDBB in this setup since the Bollinger Bands are unchecked. Only the 8 and 16 makes a difference.
 
Alright, here is a very untested quick update. I added a few options and an extra alert set if you are not watching the chart as your primary focus

  • Added warning arrows. These arrows show up when the MACD BB crosses zero line to alert you to prepare for the next 10 mins
  • Added alert for warning arrows.
  • Added an option to show statistics. It counts the total trades and winning trades. ProfitDelta determines the minimum movement to count it as a winning trade. Since this is mostly an options trade play, I didn't include ROI and profit percentage.
  • If you enable the non SPX option, it suppressed the warnings when used with other than SPX.
There are most probably bugs in there. Especially when the price whipsaws.

h67hnZt.png


Python: 
# SPX Strategy
# Strategy designed by Hypoluxa
# barbaros - v1- 2021/02/25
# barbaros - v2- 2021/02/25 - added warning arrows, alerts, statistics and non SPX trading option

declare upper;

input price = close;
input SMAFastLength = 3;
input SMASlowLength = 9;
input BBlength = 30;
input BBNum_Dev = 0.8;
input BBCrossInBars = 3;
input BBCrossDistance = 1;
input MACDfastLength = 8;
input MACDslowLength = 16;
input MACDLength = 36;
input ERGODICLongLength = 2;
input ERGODICShortLength = 10;
input ERGODICSignalLength = 36;
input ERGODICAverageType = {"SIMPLE", default "EXPONENTIAL", "WEIGHTED", "WILDERS", "HULL"};
input ShowWarnArrows = no;
input ShowStatistics = no;
input ProfitDelta = 1.0;
input AllowNonSPX = no;

# Check for 10min chart
Assert(!AllowNonSPX and GetAggregationPeriod() == AggregationPeriod.TEN_MIN, "Incorrect Chart Time, use 10m");
Assert(!AllowNonSPX and GetSymbol() == "SPX", "Incorrect Chart Time, use 10m");

# MACD
def MACD_Data = MACD(fastLength = MACDfastLength, slowLength = MACDslowLength, MACDLength = MACDLength);
def MACD_Direction = if MACD_Data > MACD_Data[1] then 1 else -1;

# Ergodic
def Ergodic_Data = ErgodicOsc("long length" = ERGODICLongLength, "short length" = ERGODICShortLength, "signal length" = ERGODICSignalLength, "average type" = ERGODICAverageType).ErgodicOsc;

# SMAs
def SMA_Fast = SimpleMovingAvg(price, SMAFastLength);
def SMA_Slow = SimpleMovingAvg(price, SMASlowLength);

# Signals
def buySignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data >= BBCrossDistance and MACD_Data crosses above 0 within BBCrossInBars bars;
def buyWarnSignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data crosses above 0 within BBCrossInBars bars;
def sellSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data <= -BBCrossDistance and MACD_Data crosses below 0 within BBCrossInBars bars;
def sellWarnSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data crosses below 0 within BBCrossInBars bars;

# Plots
plot buy = buySignal and !buySignal[1];
buy.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.setDefaultColor(Color.GREEN);
buy.setLineWeight(3);

plot buyWarn = if ShowWarnArrows then buyWarnSignal and !buyWarnSignal[1] else Double.NaN;
buyWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buyWarn.setDefaultColor(Color.CYAN);
buyWarn.setLineWeight(1);
buyWarn.setHiding(!ShowWarnArrows);

plot sell = sellSignal and !sellSignal[1];
sell.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sell.setDefaultColor(Color.RED);
sell.setLineWeight(3);

plot sellWarn = if ShowWarnArrows then sellWarnSignal and !sellWarnSignal[1] else Double.NaN;
sellWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sellWarn.setDefaultColor(Color.MAGENTA);
sellWarn.setLineWeight(1);
sellWarn.setHiding(!ShowWarnArrows);

# Alerts
Alert(buy, "Buy", Alert.BAR, Sound.Ring);
Alert(sell, "Sell", Alert.BAR, Sound.Ring);
Alert(buyWarn, "Buy Warning", Alert.BAR, Sound.Ding);
Alert(sellWarn, "Sell Warning", Alert.BAR, Sound.Ding);

# PnL
def entryPrice = if (buySignal and !buySignal[1]) or (sellSignal and !sellSignal[1]) then close else entryPrice[1];
def profitTarget = if buySignal and !buySignal[1] then entryPrice + ProfitDelta else if sellSignal and !sellSignal[1] then entryPrice - ProfitDelta else profitTarget[1];
def orderDir = if BarNumber() == 1 then 0
               else if orderDir[1] == 0 and buySignal and !buySignal[1] then 1
               else if orderDir[1] == 1 and (MACD_Direction != 1 or close crosses above profitTarget) then 0
               else if orderDir[1] == 0 and sellSignal and !sellSignal[1] then -1
               else if orderDir[1] == -1 and (MACD_Direction != -1 or close crosses below profitTarget) then 0
               else orderDir[1];

def isOrder = if IsNaN(orderDir) then no else orderDir crosses 0;
def orderCount = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then orderCount[1] + 1 else orderCount[1], 0);

def orderWinners = if BarNumber() == 1 then 0
                    else if orderDir[1] == 1 and orderDir == 0 then
                        if close >= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
                    else if orderDir[1] == -1 and orderDir == 0 then
                        if close <= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
            else orderWinners[1];
def winRate = orderWinners / orderCount;

AddLabel(ShowStatistics, "SPX Strategy", Color.WHITE);
AddLabel(ShowStatistics, "" + orderCount + " Trades | " + AsPercent(winRate), if winRate > 0.5 then Color.GREEN else Color.RED);
 
Updates...

Python: 
# SPX Strategy
# Strategy designed by Hypoluxa
# barbaros - v1 - 2021/02/25
# barbaros - v2 - 2021/02/25 - added warning arrows, alerts, statistics and non SPX trading option
# barbaros - v3 - 2021/02/26 - added SMA plots, chart type, and price plot

# Setup
# 10 Min chart
# Heikin Ashi candles
# SMA 3/9
# MACD Bollinger Bands (the one Ben has posted on here a while back) 8,16,36 and uncheck "show plot" on the BB upper, BB lower and BB mid line. You will only be using the zero line, MACD dots and MACD Line for entry purposes. The inputs of "b length" and "bb num dev" are irrelevant here since you will remove the the plots that I mentioned.
# ErgodicOsc 2,10,36 (changed the default negative to red)

# Option call logic:
# 1. The SMA's have to cross first.
# 2. For a call opportunity, you will then wait to see if the MACD dots cross above the MACD zero line. Its critical here to wait until one dot has cleared the zero line...you MUST see a gap....never enter with the dot on the line. Dots must be consistent as well...if its going up...then they must all be white...if a red dot populates between the time a white dot hits the zero line and the time one crosses clear....don't enter. I have a screenshot below showing this example - 13:00 a red dot appears.
# 3. The ErgodicOsc HAS to be green when the MACD dot crosses above the zero line. You can hold the trade most of the time until this turns from green to red....but I always set a sell limit just in case it whips back in the opposite direction.

# Option put logic:
# Obviously its the complete opposite of what I've described above for a call. BUT - the SMA's still have to cross first.

declare upper;

input price = close;
input SMAFastLength = 3;
input SMASlowLength = 9;
input BBlength = 30;
input BBNum_Dev = 0.8;
input BBCrossInBars = 3;
input BBCrossDistance = 1.0;
input MACDfastLength = 8;
input MACDslowLength = 16;
input MACDLength = 36;
input ERGODICLongLength = 2;
input ERGODICShortLength = 10;
input ERGODICSignalLength = 36;
input ERGODICAverageType = {"SIMPLE", default "EXPONENTIAL", "WEIGHTED", "WILDERS", "HULL"};
input ShowWarnArrows = no;
input ShowStatistics = no;
input ProfitDelta = 1.0;
input AllowNonSPX = no;

# Check for 10min chart
Assert(AllowNonSPX or GetAggregationPeriod() == AggregationPeriod.TEN_MIN, "Incorrect Chart Time, use 10m");
Assert(AllowNonSPX or GetSymbol() == "SPX", "Incorrect Chart Time, use 10m");

# MACD
def MACD_Data = MACD(fastLength = MACDfastLength, slowLength = MACDslowLength, MACDLength = MACDLength);
def MACD_Direction = if MACD_Data > MACD_Data[1] then 1 else -1;

# Ergodic
def Ergodic_Data = ErgodicOsc("long length" = ERGODICLongLength, "short length" = ERGODICShortLength, "signal length" = ERGODICSignalLength, "average type" = ERGODICAverageType).ErgodicOsc;

# SMAs
def SMA_Fast = SimpleMovingAvg(price, SMAFastLength);
def SMA_Slow = SimpleMovingAvg(price, SMASlowLength);

# Signals
def buySignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data >= BBCrossDistance and MACD_Data crosses above 0 within BBCrossInBars bars;
def buyWarnSignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data crosses above 0 within BBCrossInBars bars;
def sellSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data <= -BBCrossDistance and MACD_Data crosses below 0 within BBCrossInBars bars;
def sellWarnSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data crosses below 0 within BBCrossInBars bars;

# Plots
plot buy = buySignal and !buySignal[1];
buy.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.setDefaultColor(Color.GREEN);
buy.setLineWeight(3);

plot buyWarn = if ShowWarnArrows then buyWarnSignal and !buyWarnSignal[1] else Double.NaN;
buyWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buyWarn.setDefaultColor(Color.CYAN);
buyWarn.setLineWeight(1);
buyWarn.setHiding(!ShowWarnArrows);

plot sell = sellSignal and !sellSignal[1];
sell.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sell.setDefaultColor(Color.RED);
sell.setLineWeight(3);

plot sellWarn = if ShowWarnArrows then sellWarnSignal and !sellWarnSignal[1] else Double.NaN;
sellWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sellWarn.setDefaultColor(Color.MAGENTA);
sellWarn.setLineWeight(1);
sellWarn.setHiding(!ShowWarnArrows);

plot lastPrice = price;
lastPrice.setPaintingStrategy(PaintingStrategy.POINTS);
lastPrice.setDefaultColor(Color.GREEN);

plot fast = SMA_Fast;
fast.setPaintingStrategy(PaintingStrategy.LINE);
fast.setDefaultColor(Color.CYAN);
fast.setLineWeight(1);

plot slow = SMA_Slow;
slow.setPaintingStrategy(PaintingStrategy.LINE);
slow.setDefaultColor(Color.MAGENTA);
slow.setLineWeight(1);

SetChartType(ChartType.HEIKIN_ASHI);

# Alerts
Alert(buy, "Buy", Alert.BAR, Sound.Ring);
Alert(sell, "Sell", Alert.BAR, Sound.Ring);
Alert(buyWarn, "Buy Warning", Alert.BAR, Sound.Ding);
Alert(sellWarn, "Sell Warning", Alert.BAR, Sound.Ding);

# PnL
def entryPrice = if (buySignal and !buySignal[1]) or (sellSignal and !sellSignal[1]) then close else entryPrice[1];
def profitTarget = if buySignal and !buySignal[1] then entryPrice + ProfitDelta else if sellSignal and !sellSignal[1] then entryPrice - ProfitDelta else profitTarget[1];
def orderDir = if BarNumber() == 1 then 0
               else if orderDir[1] == 0 and buySignal and !buySignal[1] then 1
               else if orderDir[1] == 1 and (MACD_Direction != 1 or close crosses above profitTarget) then 0
               else if orderDir[1] == 0 and sellSignal and !sellSignal[1] then -1
               else if orderDir[1] == -1 and (MACD_Direction != -1 or close crosses below profitTarget) then 0
               else orderDir[1];

def isOrder = if IsNaN(orderDir) then no else orderDir crosses 0;
def orderCount = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then orderCount[1] + 1 else orderCount[1], 0);

def orderWinners = if BarNumber() == 1 then 0
                    else if orderDir[1] == 1 and orderDir == 0 then
                        if close >= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
                    else if orderDir[1] == -1 and orderDir == 0 then
                        if close <= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
            else orderWinners[1];
def winRate = orderWinners / orderCount;

AddLabel(ShowStatistics, "SPX Strategy", Color.WHITE);
AddLabel(ShowStatistics, "" + orderCount + " Trades | " + AsPercent(winRate), if winRate > 0.5 then Color.GREEN else Color.RED);
 
Last edited:
barbaros said:
Study sets up the upper chart. If you want the lower charts, you will need to add them as separate studies.
Click to expand...
Thank you for this study, makes things much easier when multitasking during the day like many of us have to do. Looked a little funky at first but then realized that I had wicks turned off.
 
barbaros said:
Updates...

Python: 
# SPX Strategy
# Strategy designed by Hypoluxa
# barbaros - v1 - 2021/02/25
# barbaros - v2 - 2021/02/25 - added warning arrows, alerts, statistics and non SPX trading option
# barbaros - v3 - 2021/02/26 - added SMA plots, chart type, and price plot

# Setup
# 10 Min chart
# Heikin Ashi candles
# SMA 3/9
# MACD Bollinger Bands (the one Ben has posted on here a while back) 8,16,36 and uncheck "show plot" on the BB upper, BB lower and BB mid line. You will only be using the zero line, MACD dots and MACD Line for entry purposes. The inputs of "b length" and "bb num dev" are irrelevant here since you will remove the the plots that I mentioned.
# ErgodicOsc 2,10,36 (changed the default negative to red)

# Option call logic:
# 1. The SMA's have to cross first.
# 2. For a call opportunity, you will then wait to see if the MACD dots cross above the MACD zero line. Its critical here to wait until one dot has cleared the zero line...you MUST see a gap....never enter with the dot on the line. Dots must be consistent as well...if its going up...then they must all be white...if a red dot populates between the time a white dot hits the zero line and the time one crosses clear....don't enter. I have a screenshot below showing this example - 13:00 a red dot appears.
# 3. The ErgodicOsc HAS to be green when the MACD dot crosses above the zero line. You can hold the trade most of the time until this turns from green to red....but I always set a sell limit just in case it whips back in the opposite direction.

# Option put logic:
# Obviously its the complete opposite of what I've described above for a call. BUT - the SMA's still have to cross first.

declare upper;

input price = close;
input SMAFastLength = 3;
input SMASlowLength = 9;
input BBlength = 30;
input BBNum_Dev = 0.8;
input BBCrossInBars = 3;
input BBCrossDistance = 1;
input MACDfastLength = 8;
input MACDslowLength = 16;
input MACDLength = 36;
input ERGODICLongLength = 2;
input ERGODICShortLength = 10;
input ERGODICSignalLength = 36;
input ERGODICAverageType = {"SIMPLE", default "EXPONENTIAL", "WEIGHTED", "WILDERS", "HULL"};
input ShowWarnArrows = no;
input ShowStatistics = no;
input ProfitDelta = 1.0;
input AllowNonSPX = no;

# Check for 10min chart
Assert(AllowNonSPX or GetAggregationPeriod() == AggregationPeriod.TEN_MIN, "Incorrect Chart Time, use 10m");
Assert(AllowNonSPX or GetSymbol() == "SPX", "Incorrect Chart Time, use 10m");

# MACD
def MACD_Data = MACD(fastLength = MACDfastLength, slowLength = MACDslowLength, MACDLength = MACDLength);
def MACD_Direction = if MACD_Data > MACD_Data[1] then 1 else -1;

# Ergodic
def Ergodic_Data = ErgodicOsc("long length" = ERGODICLongLength, "short length" = ERGODICShortLength, "signal length" = ERGODICSignalLength, "average type" = ERGODICAverageType).ErgodicOsc;

# SMAs
def SMA_Fast = SimpleMovingAvg(price, SMAFastLength);
def SMA_Slow = SimpleMovingAvg(price, SMASlowLength);

# Signals
def buySignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data >= BBCrossDistance and MACD_Data crosses above 0 within BBCrossInBars bars;
def buyWarnSignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data crosses above 0 within BBCrossInBars bars;
def sellSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data <= -BBCrossDistance and MACD_Data crosses below 0 within BBCrossInBars bars;
def sellWarnSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data crosses below 0 within BBCrossInBars bars;

# Plots
plot buy = buySignal and !buySignal[1];
buy.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.setDefaultColor(Color.GREEN);
buy.setLineWeight(3);

plot buyWarn = if ShowWarnArrows then buyWarnSignal and !buyWarnSignal[1] else Double.NaN;
buyWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buyWarn.setDefaultColor(Color.CYAN);
buyWarn.setLineWeight(1);
buyWarn.setHiding(!ShowWarnArrows);

plot sell = sellSignal and !sellSignal[1];
sell.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sell.setDefaultColor(Color.RED);
sell.setLineWeight(3);

plot sellWarn = if ShowWarnArrows then sellWarnSignal and !sellWarnSignal[1] else Double.NaN;
sellWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sellWarn.setDefaultColor(Color.MAGENTA);
sellWarn.setLineWeight(1);
sellWarn.setHiding(!ShowWarnArrows);

plot lastPrice = price;
lastPrice.setPaintingStrategy(PaintingStrategy.POINTS);
lastPrice.setDefaultColor(Color.GREEN);

plot fast = SMA_Fast;
fast.setPaintingStrategy(PaintingStrategy.LINE);
fast.setDefaultColor(Color.CYAN);
fast.setLineWeight(1);

plot slow = SMA_Slow;
slow.setPaintingStrategy(PaintingStrategy.LINE);
slow.setDefaultColor(Color.MAGENTA);
slow.setLineWeight(1);

SetChartType(ChartType.HEIKIN_ASHI);

# Alerts
Alert(buy, "Buy", Alert.BAR, Sound.Ring);
Alert(sell, "Sell", Alert.BAR, Sound.Ring);
Alert(buyWarn, "Buy Warning", Alert.BAR, Sound.Ding);
Alert(sellWarn, "Sell Warning", Alert.BAR, Sound.Ding);

# PnL
def entryPrice = if (buySignal and !buySignal[1]) or (sellSignal and !sellSignal[1]) then close else entryPrice[1];
def profitTarget = if buySignal and !buySignal[1] then entryPrice + ProfitDelta else if sellSignal and !sellSignal[1] then entryPrice - ProfitDelta else profitTarget[1];
def orderDir = if BarNumber() == 1 then 0
               else if orderDir[1] == 0 and buySignal and !buySignal[1] then 1
               else if orderDir[1] == 1 and (MACD_Direction != 1 or close crosses above profitTarget) then 0
               else if orderDir[1] == 0 and sellSignal and !sellSignal[1] then -1
               else if orderDir[1] == -1 and (MACD_Direction != -1 or close crosses below profitTarget) then 0
               else orderDir[1];

def isOrder = if IsNaN(orderDir) then no else orderDir crosses 0;
def orderCount = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then orderCount[1] + 1 else orderCount[1], 0);

def orderWinners = if BarNumber() == 1 then 0
                    else if orderDir[1] == 1 and orderDir == 0 then
                        if close >= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
                    else if orderDir[1] == -1 and orderDir == 0 then
                        if close <= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
            else orderWinners[1];
def winRate = orderWinners / orderCount;

AddLabel(ShowStatistics, "SPX Strategy", Color.WHITE);
AddLabel(ShowStatistics, "" + orderCount + " Trades | " + AsPercent(winRate), if winRate > 0.5 then Color.GREEN else Color.RED);
Click to expand...
Thanks for your work,,, really nice to have the upper study. Superb setup by @Hypoluxa!

Just wanted to check, does it work with Mobile (Upper study) , when I load the scan in mobile, it is not showing up?
 
Stockmarker said:
Thanks for your work,,, really nice to have the upper study. Superb setup by @Hypoluxa!

Just wanted to check, does it work with Mobile (Upper study) , when I load the scan in mobile, it is not showing up?
Click to expand...
I am not sure if it will work for mobile. There may be a few functionality in there that won’t allow operation.
 
barbaros said:
Updates...

Python: 
# SPX Strategy
# Strategy designed by Hypoluxa
# barbaros - v1 - 2021/02/25
# barbaros - v2 - 2021/02/25 - added warning arrows, alerts, statistics and non SPX trading option
# barbaros - v3 - 2021/02/26 - added SMA plots, chart type, and price plot

# Setup
# 10 Min chart
# Heikin Ashi candles
# SMA 3/9
# MACD Bollinger Bands (the one Ben has posted on here a while back) 8,16,36 and uncheck "show plot" on the BB upper, BB lower and BB mid line. You will only be using the zero line, MACD dots and MACD Line for entry purposes. The inputs of "b length" and "bb num dev" are irrelevant here since you will remove the the plots that I mentioned.
# ErgodicOsc 2,10,36 (changed the default negative to red)

# Option call logic:
# 1. The SMA's have to cross first.
# 2. For a call opportunity, you will then wait to see if the MACD dots cross above the MACD zero line. Its critical here to wait until one dot has cleared the zero line...you MUST see a gap....never enter with the dot on the line. Dots must be consistent as well...if its going up...then they must all be white...if a red dot populates between the time a white dot hits the zero line and the time one crosses clear....don't enter. I have a screenshot below showing this example - 13:00 a red dot appears.
# 3. The ErgodicOsc HAS to be green when the MACD dot crosses above the zero line. You can hold the trade most of the time until this turns from green to red....but I always set a sell limit just in case it whips back in the opposite direction.

# Option put logic:
# Obviously its the complete opposite of what I've described above for a call. BUT - the SMA's still have to cross first.

declare upper;

input price = close;
input SMAFastLength = 3;
input SMASlowLength = 9;
input BBlength = 30;
input BBNum_Dev = 0.8;
input BBCrossInBars = 3;
input BBCrossDistance = 1.0;
input MACDfastLength = 8;
input MACDslowLength = 16;
input MACDLength = 36;
input ERGODICLongLength = 2;
input ERGODICShortLength = 10;
input ERGODICSignalLength = 36;
input ERGODICAverageType = {"SIMPLE", default "EXPONENTIAL", "WEIGHTED", "WILDERS", "HULL"};
input ShowWarnArrows = no;
input ShowStatistics = no;
input ProfitDelta = 1.0;
input AllowNonSPX = no;

# Check for 10min chart
Assert(AllowNonSPX or GetAggregationPeriod() == AggregationPeriod.TEN_MIN, "Incorrect Chart Time, use 10m");
Assert(AllowNonSPX or GetSymbol() == "SPX", "Incorrect Chart Time, use 10m");

# MACD
def MACD_Data = MACD(fastLength = MACDfastLength, slowLength = MACDslowLength, MACDLength = MACDLength);
def MACD_Direction = if MACD_Data > MACD_Data[1] then 1 else -1;

# Ergodic
def Ergodic_Data = ErgodicOsc("long length" = ERGODICLongLength, "short length" = ERGODICShortLength, "signal length" = ERGODICSignalLength, "average type" = ERGODICAverageType).ErgodicOsc;

# SMAs
def SMA_Fast = SimpleMovingAvg(price, SMAFastLength);
def SMA_Slow = SimpleMovingAvg(price, SMASlowLength);

# Signals
def buySignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data >= BBCrossDistance and MACD_Data crosses above 0 within BBCrossInBars bars;
def buyWarnSignal = SMA_Fast > SMA_Slow and Ergodic_Data > 0 and MACD_Direction == 1 and MACD_Data crosses above 0 within BBCrossInBars bars;
def sellSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data <= -BBCrossDistance and MACD_Data crosses below 0 within BBCrossInBars bars;
def sellWarnSignal = SMA_Fast < SMA_Slow and Ergodic_Data < 0 and MACD_Direction == -1 and MACD_Data crosses below 0 within BBCrossInBars bars;

# Plots
plot buy = buySignal and !buySignal[1];
buy.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buy.setDefaultColor(Color.GREEN);
buy.setLineWeight(3);

plot buyWarn = if ShowWarnArrows then buyWarnSignal and !buyWarnSignal[1] else Double.NaN;
buyWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
buyWarn.setDefaultColor(Color.CYAN);
buyWarn.setLineWeight(1);
buyWarn.setHiding(!ShowWarnArrows);

plot sell = sellSignal and !sellSignal[1];
sell.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sell.setDefaultColor(Color.RED);
sell.setLineWeight(3);

plot sellWarn = if ShowWarnArrows then sellWarnSignal and !sellWarnSignal[1] else Double.NaN;
sellWarn.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
sellWarn.setDefaultColor(Color.MAGENTA);
sellWarn.setLineWeight(1);
sellWarn.setHiding(!ShowWarnArrows);

plot lastPrice = price;
lastPrice.setPaintingStrategy(PaintingStrategy.POINTS);
lastPrice.setDefaultColor(Color.GREEN);

plot fast = SMA_Fast;
fast.setPaintingStrategy(PaintingStrategy.LINE);
fast.setDefaultColor(Color.CYAN);
fast.setLineWeight(1);

plot slow = SMA_Slow;
slow.setPaintingStrategy(PaintingStrategy.LINE);
slow.setDefaultColor(Color.MAGENTA);
slow.setLineWeight(1);

SetChartType(ChartType.HEIKIN_ASHI);

# Alerts
Alert(buy, "Buy", Alert.BAR, Sound.Ring);
Alert(sell, "Sell", Alert.BAR, Sound.Ring);
Alert(buyWarn, "Buy Warning", Alert.BAR, Sound.Ding);
Alert(sellWarn, "Sell Warning", Alert.BAR, Sound.Ding);

# PnL
def entryPrice = if (buySignal and !buySignal[1]) or (sellSignal and !sellSignal[1]) then close else entryPrice[1];
def profitTarget = if buySignal and !buySignal[1] then entryPrice + ProfitDelta else if sellSignal and !sellSignal[1] then entryPrice - ProfitDelta else profitTarget[1];
def orderDir = if BarNumber() == 1 then 0
               else if orderDir[1] == 0 and buySignal and !buySignal[1] then 1
               else if orderDir[1] == 1 and (MACD_Direction != 1 or close crosses above profitTarget) then 0
               else if orderDir[1] == 0 and sellSignal and !sellSignal[1] then -1
               else if orderDir[1] == -1 and (MACD_Direction != -1 or close crosses below profitTarget) then 0
               else orderDir[1];

def isOrder = if IsNaN(orderDir) then no else orderDir crosses 0;
def orderCount = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then orderCount[1] + 1 else orderCount[1], 0);

def orderWinners = if BarNumber() == 1 then 0
                    else if orderDir[1] == 1 and orderDir == 0 then
                        if close >= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
                    else if orderDir[1] == -1 and orderDir == 0 then
                        if close <= profitTarget[1] then orderWinners[1] + 1 else orderWinners[1]
            else orderWinners[1];
def winRate = orderWinners / orderCount;

AddLabel(ShowStatistics, "SPX Strategy", Color.WHITE);
AddLabel(ShowStatistics, "" + orderCount + " Trades | " + AsPercent(winRate), if winRate > 0.5 then Color.GREEN else Color.RED);
Click to expand...
Thank you! Will try it out.
 
Forgive me if I missed it reading thru the discussion but I don't recall what was used as a stop in case the trade moves against you, Hypoluxa? Also, what was the purpose of the Daily Open indicator in the strategy? Thanks
 
Daybuck said:
Forgive me if I missed it reading thru the discussion but I don't recall what was used as a stop in case the trade moves against you, Hypoluxa? Also, what was the purpose of the Daily Open indicator in the strategy? Thanks
Click to expand...

Stop loss is subject to your own comfort with regard to Win:Loss Ratio... Only you know your comfort zone for loss...
 
Hypoluxa said:
Here's something I just saw - Using the MACDBB settings from this strategy....SPX on the daily chart stands a chance to dip all the way below the MACDBB zero line for only the 3rd time in a year, if you don't count the COVID crash. Or for only the 3rd time in a year, it could also bounce to green.
https://imgur.com/a/bWkxvSS
Click to expand...
@Hypoluxa pertaining to this daily chart you posted, what is your condition criteria that designates the candles to be red or green?
 
rad14733 said:
Stop loss is subject to your own comfort with regard to Win:Loss Ratio... Only you know your comfort zone for loss...
Click to expand...
This is exactly right. It's on the investor when it comes to an entry only, scalping setup, like this as to when they feel they have hit a goal.
 
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Hypoluxa said:
I don't understand your question at all. Can you be more specific plz?
Click to expand...
I didn't know if you had any specific settings that triggered the candle colors. It just got me thinking of something else regarding a daily strategy. You must not then, I guess the red candles are just on the days when the closing price was lower than than the open. And vise versa for the green candles.
 
Let the Bulls Run said:
I didn't know if you had any specific settings that triggered the candle colors. It just got me thinking of something else regarding a daily strategy. You must not then, I guess the red candles are just on the days when the closing price was lower than than the open. And vise versa for the green candles.
Click to expand...
yes. and I'm NOT using daily to trade...it was only for the sake of that post and an FYI.
 
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