Strategy is taken from the TradeIQ YouTube video called "I Finally Found 80% Win Rate Trading Strategy For Crypto". Check out the full video for further details/clarification on strategy entry/exit conditions.
The default settings are exactly as TradeIQ described in his video. However I found some better results by some tweaking settings, increasing R:R ratio and by turning off confirmation indicators. This would suggest that perhaps the current confirmation indicators are not the best options. I'm happy to try add some other optional confirmation indicators if they look to be more effective.
Recommended timeframe: 1H
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: Coral Trend is bullish
C2: At least 1 candle where low is above Coral Trend since last cross above Coral Trend
C3: Pullback happens and price closes below Coral Trend
C4: Coral Trend colour remains bullish for duration of pullback
C5: After valid pullback, price then closes above Coral Trend
C6: Optional confirmation indicators (choose either C6.1 or C6.2 or NONE):
NOTE: All the optional confirmation indicators cannot be overlayed with Coral Trend so feel free to add each separately to the chart for visual purposes
Trade exit:
Stop Loss: Calculated by recent swing low over previous X candles (configurable with "Local High/Low Lookback")
Take Profit: Calculated from R:R multiplier * Stop Loss size
Credits
Strategy origin: TradeIQ's YouTube video called "I Finally Found 80% Win Rate Trading Strategy For Crypto"
It combines the following indicators for trade entry conditions:
Coral Trend Indicator [LazyBear] by @LazyBear (Main indicator)
Absolute Strength Histogram | jh by @jiehonglim (Optional confirmation indicator)
Indicator: HawkEye Volume Indicator by @LazyBear (Optional confirmation indicator)
ADX and DI by @BeikabuOyaji (Optional confirmation indicator)
I tried coding this a couple of days ago (I've done a lot of C# but not a lot of pine). Suffice to say yours is way way better and I wish I could have found this first. Many many thanks.
it is a very good strategy thank you for coding it with the help of volume indicator this indicator can provide u with a lot of good entries thank you very much for coding it
myncrypto
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Awesome! Was just in the middle of coding this up when I saw you did it! Awesome job at that. Thank you again
I love the strategy and have managed to make it work profitably on several coins using some creative settings, thanks for this! Could you please just fix the alerts so that it can be automated on 3commas or other similar sites? To have separate alerts for long, short and exit trade. That would just be amazing if you could do that.
gmeneguzzo
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BTW I never seen 80% Win Rate with this strategy 1H , do you confirm it ?
kevinmck100
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@gmeneguzzo, I never claimed it to have an 80% win rate. TradeIQ claimed that in his video (I just included the title of the video for reference). I coded the strategy up to prove/dis-prove his backtesting in that video. Unfortunately my conclusion is his backtesting is either erroneous or fake which is what I've concluded from any of his strategies that I've tested.
It's not to say that they can't produce profitable results, but they certainly are not as effective as claimed in his videos.
gmeneguzzo
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@kevinmck100, ok , just to talk nothing against your work (thank you again for sharing) , just to say that you wrote that you reproduced "I Finally Found 80% Win Rate Trading Strategy For Crypto" . ok. Then you wrote "However I found some better results by some tweaking settings, increasing R:R ratio and by turning off confirmation indicators." . So I was thinking you found a better winrate than 80% :) .