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The ElliotV5HO strategy is a trading strategy that uses various indicators to determine buy and sell signals in the financial market. Here is a breakdown of its key components:
Indicators:
The strategy populates several indicators based on the configuration settings. It calculates the Exponential Moving Average (EMA) for different time periods specified in the configuration.
Additionally, it calculates the Elder's Force Index (EWO) and the Relative Strength Index (RSI) for a fixed time period of 14.
Buy Trend: The strategy defines conditions for initiating a buy signal.
It checks if the closing price is below a specific moving average multiplied by a low offset value, the EWO is above a certain threshold, the RSI is below a specified value, and the volume is greater than zero. If any of these conditions are met, the strategy marks the corresponding time period as a buy signal. Sell Trend: The strategy defines conditions for initiating a sell signal. It checks if the closing price is above a specific moving average multiplied by a high offset value and the volume is greater than zero. If these conditions are met, the strategy marks the corresponding time period as a sell signal. Profit Calculation: The strategy includes a function to calculate the profit based on the current profit and time elapsed since the trade was opened. If the current profit is less than 0.001 (indicating a loss) and the time elapsed is more than 140 minutes since the trade was opened, it returns a negative profit of -0.005. Otherwise, it returns a profit of 1. Overall, the ElliotV5HO strategy utilizes moving averages, EWO, RSI, and volume to identify potential buying and selling opportunities in the market.
Additionally, it calculates the Elder's Force Index (EWO) and the Relative Strength Index (RSI) for a fixed time period of 14.
Buy Trend: The strategy defines conditions for initiating a buy signal.
It checks if the closing price is below a specific moving average multiplied by a low offset value, the EWO is above a certain threshold, the RSI is below a specified value, and the volume is greater than zero. If any of these conditions are met, the strategy marks the corresponding time period as a buy signal. Sell Trend: The strategy defines conditions for initiating a sell signal. It checks if the closing price is above a specific moving average multiplied by a high offset value and the volume is greater than zero. If these conditions are met, the strategy marks the corresponding time period as a sell signal. Profit Calculation: The strategy includes a function to calculate the profit based on the current profit and time elapsed since the trade was opened. If the current profit is less than 0.001 (indicating a loss) and the time elapsed is more than 140 minutes since the trade was opened, it returns a negative profit of -0.005. Otherwise, it returns a profit of 1. Overall, the ElliotV5HO strategy utilizes moving averages, EWO, RSI, and volume to identify potential buying and selling opportunities in the market.
stoploss: -0.189 timeframe: 5m hash(sha256): b34867922c637a47500a1d33375cafed5dc24826295ea4939f64aad9d9e2cd88
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last change: 2022-07-04 00:48:52