The ElliotV8_original strategy is a trading strategy that uses various technical indicators to determine buy and sell signals. Here is a brief description of what the strategy does:
Indicator Calculation:
Calculates exponential moving averages (EMA) for different time periods. Calculates the Hull Moving Average (HMA) with a window of 50.
Calculates the Simple Moving Average (SMA) with a time period of 9.
Calculates the Elliott Wave Oscillator (EWO) using custom calculations.
Calculates the Relative Strength Index (RSI) with time periods of 14, 4, and 20. Buy Trend:
Checks multiple conditions to determine a buy signal:
RSI (fast) is below 35. Close price is below the EMA multiplied by a low offset value. EWO is above a high threshold. RSI is below a specified buy threshold. Volume is greater than 0. Close price is below the EMA multiplied by a high offset value. Sell Trend:
Checks multiple conditions to determine a sell signal:
Close price is above the HMA. Close price is above the EMA multiplied by a high offset value. RSI is above 50. Volume is greater than 0. RSI (fast) is greater than RSI (slow). Alternatively, if the close price is below the HMA but above the EMA multiplied by a high offset value, and RSI (fast) is greater than RSI (slow). The strategy combines these conditions to generate buy and sell signals in the backtesting process.