Backtest PRO Suite+ (Plug & Play)

2019年10月16日

Hello traders

I. SCRIPTS ACCESS AND TRIALS

1. For the trial request access, they have to be done through my website.
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here: Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information

II. Backtest PRO Suite+ (Plug & Play)

2.1 Forewords

This indicator is available only to our PRO 12 months users. YES! I said indicator, and not strategy or backtest for an excellent reason.
We wanted to make it as generic as possible and allow anyone to connect any indicator of his/her choice in a few clicks only.
This is NOT possible (in TradingView) with a strategy/backtest, but only with an indicator - that's why we worked on recoding the whole backtest logic as an indicator.
The PRO edition does not handle any pyramiding/re-entry - as such enters only once per trend by design. This feature is reserved for our PREMIUM users.

2.2 🔎 Concept 🔎

This is an indicator that I saw on TradingView and was introduced by the PineCoders account on TradingView.
I inspired myself from his Backtest Engine to offer a version more adapted to my vision - The benefits of connecting yourself any indicator to our Backtest engine are amazing and huge.

The concept can't be more simple. Imagine using any indicator and connecting to a backtest system in a single click.

You may connect your Algorithm Builder also to this complete backtesting system in a single click.

What's better between paying thousands for a backtest, or connecting yourself your indicator to your backtest with a click?
That was a rhetoric question, but you can still share your answer with me if you want to :)

III. The amazing benefits of our🔌&🕹️ (Plug&Play) system

Issue #1 💲 A BACKTEST SYSTEM IS COSTLY 💲
Hiring a developer to code a custom indicator is costly. For a custom backtest it's even more expensive as those scripts are very often way more complicated.
Now imagine, that now that you see your idea live on a chart, you'll realize you'll have to finance another backtest system, as the one you have is not compatible with your new idea.

Solution #1 💲💲 YOU COULD BE SAVING SOME MONEY 💲💲
just because it won't be needed to hire someone else for each of your trading idea.
We will never guarantee your success on the market, but THIS I stand by it any day any hour.
You can connect any indicator or your choice by updating your indicator slightly and connecting it to our Backtest engine. We send the tutorial for doing it to all our customers.

Issue #2 🕔 IT'S TIME-CONSUMING 🕔
Even if someone is doing all the coding for you, it might require days/weeks depending on your overall trading strategy/idea.
Without even counting the time for you to test/validate the work done and all the back-and-forth to fix all the issues.

Solution #2 SAVING TIME MIGHT EQUATES TO SAVING MONEY : 🕔 = 💲💲💲
I wish it could be as easy as going from weeks of coding to "1 single click" :)
I did the heavy-lifting, but you'll have to make the last effort the cross the finishing line. I made it easy for you to play with it and find a configuration that makes sense to YOU and for your strategy/asset/timeframe

Issue #3 ❌ IT'S COMPLICATED ❌
Someone did a backtest code for you, but... you can't update it because you either :
- don't know anything in programming
- ... and don't have time to learn (most of us have a job/family/...life)
- The system you have is way too specific for one of your previous idea, but can't be updated easily for your next trading ideas. I see a lot of traders nodding right now thinking "that's soooooo true !!!!"

Solution #3 🎉 WE MADE IT EASY AND FUN 🎉
Our goal is to externalize the technical stuff that you don't want to take care of - so that you can finally focus on your trading and optimizing your ideas. #bold #statement

In case you're wondering, no we're not reading your mind :), but we're also traders who didn't know how to code before and had to hire external programmers to do the heavy work for us.
You can be sure that most of the frustrations (trading, technical, ...) you have/had, we had them also and that's why we created this backtest indicator.

III. 🔌&🕹️

Hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator.
I'm using that feature to connect any external indicator to our Backtest PRO Suite+ (Plug & Play) - hence the plug and play name. Please don't make it a plug and pray :) it's supposed to help you out, not to stress you even more

Let's assume you want to connect your Algorithm Builder Single Trend+ to your Backtest PRO Suite+

I mentioned an Algorithm Builder but you may connect any oscillator (MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)

Fear no more. The Plug&Play technology allows you to connect it and use it the backtest calculations.

This is not magic, neither is sorcery, but certainly is way beyond the most awesome thing I've ever developed on TradingView (even across all brokers I know). #bolder #statement
TradingView is the best trading platform by far and I'm very grateful to offer my indicators on their website.

To connect your external indicator to ours, we're using a native TradingView feature, which is not available for all users.
It depends on your TradingView subscription plan (More info here)
If you intend to use our Algorithm Plug&Play indicator, and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers seriously, and that's why we're warning you that a compatible TradingView account type is required - at least PRO+ or PREMIUM to add more than 1 Plug&Play indicator per account.

We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature

IV. 📊 Make it nice! 📊

Now we're getting right into the fun stuff.
Let's explore briefly each display option (symbolized by a 👁️‍🗨️ in the Backtest UI) :

- Color Traded Background: Color the chart background is green when in a BUY trade, in red when in a SELL trade. If the Backtest is not in a trade, then the background won't be colored.
- Show Entry/Exit Markers: Displays the entries (Enter Long/Enter Short), and exits (Exit Long/Exit Short) labels.
- Show Entry Level:Displays a blue level line to easily identify the entry price of a trade.
- Show Take Profit Level: Display a purple line to visualize where the Take Profit level is (we'll explain below how to set it up).
- Show In-Trade Stops: Display the stop-loss

V. Backtesting filters

A backtest should have some filters helping the traders testing a few hypotheses. Well.... we included a ton of them - even for the PRO version
Once again, thank you PineCoders for the help and support you gave me

5.1 ▄ █ Position sizing █ ▄

- 1. % of Equity: If selected, the position size used is the input to the right of 1. % of Equity.
Example: The trader starts with a capital of 100K. After a winning trade, your total capital is 103K - for the next trade the position size will be 3% of 103K

- 2. % of Capital: If selected, the position size used is the input to the right of 2. % of Capital.
In other words, the position size will always be the same position size as calculated on the initial capital.
Example: The trader starts with a capital of 100K. After a winning trade, your total capital is 103K - for the next trade the position size will be 5% of 100K. (As 100K is the initial capital used in our dummy example)

5.2⛔ Entry Stops and In-Trade Stops ⛔

We didn't reinvent the wheel here. Any good backtest should offer an entry stop-loss and an in-trade stop-loss.
Giving only here also an example among all the use cases. For instance, the trader sets a stop-loss 2% at the time of entry on your trade, but once the trade moves in the desired direction, the trader might want a trailing stop-loss using a 4% input.
Example: A trader goes LONG on only 1 "ABC" stock evaluated $10 per share.
1) The entry-stop loss will be 2% away so set at $8
2) A candle
3) The trailing stop will activate, and move the stop-loss from the entry stop-loss level (=$8) to $8.32 (=4% move up from $8) - and so on, and so forth for each time the price moves 4% up
The entry and in-trade stop losses can absolutely be identicals. There is no universal rule, and as always you know the drill - all depends on your backtest, and indicator configurations as a whole.

Last, but not the least, selecting an Entry stop-loss is mandatory, but the in-trade stop-loss is not. Up to you to decide if the in-trade SL is needed for your Backtest strategy.

5.3 ❌ Hard Exits ❌

We included the MACD hard exit indicator in the backtest - as we did also for the Algorithm Builders.
The hard exit (or invalidation) is a fundamental part of my trading method.
I explained numerous times on TradingView, our website, and social media channels why I "love" this concept so much, and how it saved my trading account numerous times from getting savagely wrecked by the market.

5.4 💲💲 Take Profit 💲💲

We only included 1 level of Take Profit so far. We'll work on adding at least one more soon.
You can set your Take Profit level based on either a:
1- Fixed value
2 - Percentage value

5.5 📆 Date Range Filtering 📆

If enabled, the backtest only uses the data between the starting and the ending dates of the defined range.

5.6 ❗❗ Fees and Slippage ❗❗

Too often completely ignored by many traders, the fees can eat gains out quickly/deepen one's capital faster than expected.
⚠️The fees vary between brokers, and asset traded - it could be recommended to check on your broker page what are the fees for the asset on your chart, and insert that percentage number.

Another cost ignored, even more, is the Slippage.
i.e. think about a Stop-Loss being hit, and we're so confused because we see on the chart that NEVER the price came even close to your SL level, but... it got hit anyway.
Yes! we know how frustrating it is, but that's the game we're playing, and trading should never be about blaming the game, but only blaming the players/traders/ourselves.
Blaming the game constantly is likely to not end with good performance results, but accounting for this "risk", and being able to quantify it is an incredible hedge. #bold #statement #level #10000

5.7 🔔 Alerts 🔔

By design, the alerts aren't available for strategy scripts. But this script is an... indicator so why should we not enjoy all the cards in our hands the fullest.
We enabled the alerts on those Backtest Entry/Exit signals. You're welcome :)

VI. 📝 Where are the backtest results? 📝

Answer: in the Data Window section of your TradingView
Now the cherry on the cake if we might say so. A backtest is cool, but visualizing results is actually the end goal here.

The Data Window is dynamic - it means whenever you'll mouseover at a give time on your chart, the data on that panel automatically updates.
Let's assume you're backtesting your idea between Sept 1st, 2019, and Oct 1st, 2019.
If your mouse cursor is located (or hovered) at a candle on Sept 14th, 2019 (data chosen randomly for this example), then the data displayed only includes the results between Sept 1st, and Sept 14th.
More info available on our website with a nice tutorial video. Data window metrics and filters explained on our website

Here's what the data window looks like: imgur.com/D09fBzS

If you have any doubt or question, please hit me up directly or ask in the comments section of this script.

I'll never claim I have the best trading methodology or the best indicators.
You only will judge and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.

Kind regards,
Dave

2020年1月6日

版本注释

- Added Versioning