The ElliotV7 strategy is a backtesting strategy that utilizes various indicators to determine buy and sell signals in a trading market. Here is a breakdown of what the strategy does:
populate_indicators function:
Calculates and adds several indicators to the dataframe, including moving averages (MA), Bollinger Bands (BB), Hull Moving Average (HMA), simple moving average (SMA), Elliott Wave Oscillator (EWO), and Relative Strength Index (RSI). populate_buy_trend function:
Defines conditions for a buy signal based on specific criteria, such as RSI values, price below moving averages, EWO values, and volume.
If the conditions are met, the 'buy' column in the dataframe is set to 1.
populate_sell_trend function:
Defines conditions for a sell signal based on criteria such as moving average crossover, price above moving averages, RSI values, and volume.
If the conditions are met, the 'sell' column in the dataframe is set to 1. The strategy aims to generate buy and sell signals based on these indicator values and predefined conditions, which can then be used for backtesting and evaluating the performance of the strategy on historical data.