The new "Pure Morning 2.0 - Candlestick Pattern Doji Strategy" is a trend-following, intraday cryptocurrency trading system authored by devil_machine. The system identifies Doji and Morning Doji Star candlestick formations above the EMA60 as entry points for long trades.
For best results we recommend to use on 15-minute, 30-minute, or 1-hour timeframes, and are ideal for high-volatility markets. The strategy also utilizes a profit target or trailing stop for exits, with stop loss set at the lowest low of the last 100 candles. The strategy's configuration details, such as Doji tolerance, and exit configurations are adjustable. In this new version 2.0, we've incorporated a new selectable filter. Since the stop loss is set at the lowest low, this filter ensures that this value isn't too far from the entry price, thereby optimizing the Risk-Reward ratio.
In the specific case of ALPINE, a 9% Take-Profit and and Stop-Loss at Lowest Low of the last 100 candles were set, with an activated trailing-stop percentage, Max Loss Filter is not active.
Name: Pure Morning 2.0 - Candlestick Pattern Doji Strategy
Category: Trend Follower based on candlestick patterns.
Operating mode: Spot or Futures (only long).
Trades duration: Intraday
Timeframe: 15m, 30m, 1H
Market: Crypto
Suggested usage: Short-term trading, when the market is in trend and it is showing high volatility .
Entry: When a Doji or Morning Doji Star formation occurs above the EMA60.
Exit: Profit target or Trailing stop, Stop loss on the lowest low of the last 100 candles.
Configuration: - Doji Settings (tolerances) for Entry Condition - Max Loss Filter (Lowest Low filter) - Exit Long configuration - Trailing stop
Backtesting: ⁃ Exchange: BINANCE ⁃ Pair: ALPINEUSDT ⁃ Timeframe: 30m ⁃ Fee: 0.075% ⁃ Slippage: 1 - Initial Capital: 10000 USDT - Position sizing: 10% of Equity - Start: 2022-02-28 (Out Of Sample from 2022-12-23) - Bar magnifier: on
Disclaimer: Risk Management is crucial, so adjust stop loss to your comfort level. A tight stop loss can help minimise potential losses. Use at your own risk.
How you or we can improve? Source code is open so share your ideas! Leave a comment and smash the boost button!
Thanks for your attention, happy to support the TradingView community.
Thank you very much for creating such a useful script. This works very well. Looking forward to using more scripts from you :)
Qkwesi
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I wanted to express my sincere appreciation for the outstanding work you have done. The code you provided has been incredibly useful to me, and I have been using it successfully on 15-minute intervals.
I have a small request regarding the code. Is it possible to include a backtesting date range feature? It would greatly enhance its functionality and allow me to test its performance over specific time periods.
I propose adding a start and end date parameter to the code, which would enable users to define the range of dates for backtesting. By incorporating this feature, I would have more control over evaluating the code's effectiveness during different time periods. Thanks in advance and keep up with the good work!!!
@TheSocialCryptoClub, Please be aware of the trailing and repainting issue that can occur. Sometimes, you may receive an alert, but it is not displayed in the script, creating a misleading experience. The displayed results may not reflect the actual results due to this trailing and repainting issue. Would be great if you could fix it.
KumiLab
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@Qkwesi, the script couldn’t be loaded on pinescript is isue from my side
Qkwesi
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@KumiLab, you need to unable the "Use bar magnifier" in settings if you are not a premium user to see the backtesting results.