The BOAV1 strategy is a backtesting trading strategy that aims to identify buying and selling opportunities in the market. Here is a brief description of what the strategy does:
The strategy calculates the EWO (Elliott Wave Oscillator) indicator, which is derived from the exponential moving averages (EMA) of the price data. The strategy sets a minimal return on investment (ROI) target for selling positions.
It sets a stop loss to limit potential losses if the price goes against the trade.
The strategy does not use a trailing stop, which means it does not adjust the stop loss level as the price moves in favor of the trade.
It uses a sell signal to determine when to exit a position. The strategy operates on the 1-minute timeframe for analyzing price data. It can also use an informative timeframe of 1 hour for additional analysis. The strategy only processes new candles and does not require a specific startup candle count. It provides a plot configuration to visualize the moving averages used in the strategy. The strategy does not use a custom stop loss mechanism. It defines conditions for buying and selling based on price and volume data. When the buying conditions are met, the strategy generates a buy signal. When the selling conditions are met, the strategy generates a sell signal. Overall, the BOAV1 strategy aims to identify potential buying opportunities based on certain price and volume conditions and aims to achieve a minimal ROI target for selling positions.