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The "hansencandlepatternV1" strategy is an experimental trading strategy that uses candlestick patterns as buy or sell indicators. It should not be used for live trading. Here's a breakdown of the important parts of the strategy:
Indicators:
The strategy uses various candlestick pattern indicators provided by the "ta" library, such as CDL3LINESTRIKE, CDLEVENINGSTAR, CDLHARAMI, etc.
These indicators are calculated based on the open, high, low, and close prices of the candles.
Additionally, the strategy calculates the following custom indicators: 'hclose': Average price of the candle (average of open, high, low, and close).
'hopen': Average price of the previous candle (average of the open and close prices of the candle two periods ago). 'hhigh': Highest price among the open, close, and high prices of the candle. 'hlow': Lowest price among the open, close, and low prices of the candle. 'emac': 6-period Simple Moving Average of 'hclose'. 'emao': 6-period Simple Moving Average of 'hopen'. Buy Trend: The strategy identifies a buy signal if any of the following conditions are met: CDL3LINESTRIKE is negative. CDLEVENINGSTAR is positive. CDLABANDONEDBABY is positive. CDLHARAMI is positive. CDLENGULFING is positive. 'emao' is less than 'emac'. Sell Trend: The strategy identifies a sell signal if 'emao' is greater than 'emac'. The strategy operates on the 1-hour timeframe and has a minimal ROI (Return on Investment) target of 10%. It also includes a stop loss of -0.1, which means that if the price drops by 10% from the buy price, the position will be sold automatically. Note: This strategy is labeled as an experiment, and caution is advised when using it for live trading.
These indicators are calculated based on the open, high, low, and close prices of the candles.
Additionally, the strategy calculates the following custom indicators: 'hclose': Average price of the candle (average of open, high, low, and close).
'hopen': Average price of the previous candle (average of the open and close prices of the candle two periods ago). 'hhigh': Highest price among the open, close, and high prices of the candle. 'hlow': Lowest price among the open, close, and low prices of the candle. 'emac': 6-period Simple Moving Average of 'hclose'. 'emao': 6-period Simple Moving Average of 'hopen'. Buy Trend: The strategy identifies a buy signal if any of the following conditions are met: CDL3LINESTRIKE is negative. CDLEVENINGSTAR is positive. CDLABANDONEDBABY is positive. CDLHARAMI is positive. CDLENGULFING is positive. 'emao' is less than 'emac'. Sell Trend: The strategy identifies a sell signal if 'emao' is greater than 'emac'. The strategy operates on the 1-hour timeframe and has a minimal ROI (Return on Investment) target of 10%. It also includes a stop loss of -0.1, which means that if the price drops by 10% from the buy price, the position will be sold automatically. Note: This strategy is labeled as an experiment, and caution is advised when using it for live trading.
startup_candle_count : 50 Recursive Analysis found no issues while using 50 startup_candle_count
stoploss: -0.1 timeframe: 1h hash(sha256): d408e504abc90afb7ecb729ee19c52e47b98236db25079f16e3535979418be4f indicators: 3LINESTRIKE high HARAMI ENGULFING emac openclosehigh hopen close hlow hhigh opencloselow open low ABANDONEDBABY INVERTEDHAMMER emao hclose EVENINGSTAR
No similar strategies found. (based on used indicators)
last change: 2023-06-27 14:21:13