The strategy implemented in this code is called SMAOffsetProtectOptV1. Here is a brief explanation of what the strategy does:
The strategy uses the Exponential Moving Average (EMA) indicator and the Elliott Wave Oscillator (EWO) indicator. It defines several parameters for buying and selling.
For buying, the strategy looks for specific conditions: The closing price is below the EMA multiplied by a low offset value.
The EWO value is above a certain threshold.
The RSI (Relative Strength Index) value is below a specified value. The volume is greater than zero. If any of these conditions are met, a buy signal is generated. For selling, the strategy looks for the following condition: The closing price is above the EMA multiplied by a high offset value. The volume is greater than zero. If this condition is met, a sell signal is generated. The strategy uses a trailing stop, which means that if the price moves favorably, the stop loss level is adjusted accordingly to protect profits. The strategy also sets a minimal return on investment (ROI) target, below which the position will be closed. The strategy operates on 5-minute candlestick data. It requires at least 30 startup candles before generating signals. The strategy does not use a custom stop loss. Additionally, it calculates the EWO and RSI values and provides them as informative indicators for a higher timeframe (1 hour). Please note that this is a simplified explanation, and the strategy may have more complex interactions and features not fully described here. It's recommended to review and understand the complete code implementation for a comprehensive understanding of the strategy.
For buying, the strategy looks for specific conditions: The closing price is below the EMA multiplied by a low offset value.
The EWO value is above a certain threshold.
The RSI (Relative Strength Index) value is below a specified value. The volume is greater than zero. If any of these conditions are met, a buy signal is generated. For selling, the strategy looks for the following condition: The closing price is above the EMA multiplied by a high offset value. The volume is greater than zero. If this condition is met, a sell signal is generated. The strategy uses a trailing stop, which means that if the price moves favorably, the stop loss level is adjusted accordingly to protect profits. The strategy also sets a minimal return on investment (ROI) target, below which the position will be closed. The strategy operates on 5-minute candlestick data. It requires at least 30 startup candles before generating signals. The strategy does not use a custom stop loss. Additionally, it calculates the EWO and RSI values and provides them as informative indicators for a higher timeframe (1 hour). Please note that this is a simplified explanation, and the strategy may have more complex interactions and features not fully described here. It's recommended to review and understand the complete code implementation for a comprehensive understanding of the strategy.
stoploss: -0.5 timeframe: 5m hash(sha256): 286a5d0acac1760e6dc258d53afd9676203e69f7126955133bbadf6f7a7eff53 indicators: volume EWO close rsi ma_buy ma_sell
No similar strategies found. (based on used indicators)
last change: 2024-05-02 10:24:11