The change is in lines 11-20 where the sma's are replaced with Triple ema's to lower the lag.
The original author is SoftKill21. His explanation is repeated below:
Best suited for 1M time frame and majors currency pairs. Note that I tried it at 3M time frame.
Its made of :
Ema ( exponential moving average ) , long period 25 Ema ( exponential moving average ) Predictive, long period 50, Ema ( exponential moving average ) Predictive, long period 100
Risk management , risking % of equity per trade using stop loss and take profits levels.
Long Entry:
When the Ema 25 cross up through the 50 Ema and 100 EMA . and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
Short Entry:
When the Ema 25 cross down through the 50 Ema and 100 EMA , and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
I recently came across some discussions regarding the trailing stoploss used by TV. There are bugs in it and it produces ridiculously high profit and % profit results. Please see for discussions:
backtest-rookies.com/2018/06/08/tradingview-trailing-stop-mechanics-beware-version-3/?fbclid=IwAR0I9R490bImjme5FXZdxygPFuGxYNSFNSlzUawK-RA6HYsw2PPeHLYEc60#:~:text=trail_points%20(float)%20An%20optional%20parameter,amount%20of%20profit and Pinescript v4 - The Holy Grail (Trailing Stop) - tradingview.com/script/Mc2wPUg2-Pinescript-v4-The-Holy-Grail-Trailing-Stop/
The basic issue is that the backtest data only stores OHLC per bar and not the tick data. To perform realistic backtesting one needs tick data.
Apologies to all.
nicoogarciaph
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what tf do you recomend using it brother?
EduardoRosano
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Could you please include in the script the asian session? Thanks
There are bugs in it and it produces ridiculously high profit and % profit results.
Please see for discussions:
backtest-rookies.com/2018/06/08/tradingview-trailing-stop-mechanics-beware-version-3/?fbclid=IwAR0I9R490bImjme5FXZdxygPFuGxYNSFNSlzUawK-RA6HYsw2PPeHLYEc60#:~:text=trail_points%20(float)%20An%20optional%20parameter,amount%20of%20profit
and
Pinescript v4 - The Holy Grail (Trailing Stop) - tradingview.com/script/Mc2wPUg2-Pinescript-v4-The-Holy-Grail-Trailing-Stop/
The basic issue is that the backtest data only stores OHLC per bar and not the tick data.
To perform realistic backtesting one needs tick data.
Apologies to all.