The BigPete strategy is a trading strategy implemented in a backtesting website. Here is a brief description of what the strategy does:
The strategy utilizes various indicators to generate buy signals. It starts by populating indicators on the provided DataFrame, including informative 1-hour indicators and normal time frame indicators.
These indicators are used to make buy decisions.
The buy conditions are defined through multiple conditional statements, each evaluating different aspects of the market data.
Some of the important buy conditions include checking if the closing price is above the 200-day exponential moving average (ema_200) and the 1-hour exponential moving average (ema_200_1h). It also considers the Bollinger Bands, relative strength index (rsi), historical price action, and volume indicators. The strategy considers factors like the relationship between the Bollinger Bands, the presence of positive histogram values, the distance between the middle band and the closing price, and volume-related conditions. These conditions are used to determine if a buy signal should be generated. The strategy also takes into account different configurable parameters, such as buy volume pumps, RSI thresholds, Bollinger Bands values, and MACD (moving average convergence divergence) values. Overall, the BigPete strategy aims to identify potential buying opportunities based on the combination of various technical indicators and market conditions.