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Name

Trendelicious

Author

ChaoZhang

Strategy Description

This indicator uses the rolling middle of highest and lowest points over a period of time to determine if the asset is currently in an uptrend or a downtrend.

It helps visualize the current trend.

Parameters : 1/ length : the length of the period of time over which the highest and lowest will be considered 2/ price source : the source that will be used for calculations 3/ aggressive mode : if true, the trend direction will be more responsive to price change and will move faster from uptrend to downtrend and the other way.

Use on a higher timeframes to avoid the noise (4h, 12h, 1d etc.)

DISCLAIMER:

This is not an advice to trade. Use at your own risk. The author of this script cannot be held responsible for any losses incurred directly or indirectly by the usage of this indicator.

backtest

IMG

Strategy Arguments

Argument Default Description
v_input_1 30 length
v_input_2_hl2 0 Price Source: hl2
v_input_3 false Aggressive Mode

Source (PineScript)

/*backtest
start: 2022-05-09 00:00:00
end: 2022-05-15 23:59:00
period: 30m
basePeriod: 15m
exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}]
*/

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © levieux

//@version=5
indicator("Trendelicious", overlay=true)

length=input(defval=30)
price=input(defval=hl2, title="Price Source")
aggressiveMode=input(defval=false,title="Aggressive Mode")

isUptrend(price,length,aggressiveMode) =>
    uptrend= false
    PP= (ta.highest(price,length)+ta.lowest(price,length))/2
    ppChange= ta.change(PP,1)
    ppFlat= ppChange==0
    priceOverPP=ta.crossover(price,PP)
    priceUnderPP=ta.crossunder(price,PP)
    risingPrice= ta.rising(price,5)
    risingPP= ta.rising(PP,5)
    fallingPrice= ta.falling(price,5)
    fallingPP= ta.falling(PP,5)

    uptrendCondition1= price>PP and (ppChange>0 or (ppChange==0 and aggressiveMode)) and (ppChange[1]>0 or (ppChange[1]==0 and aggressiveMode)) and ppChange[2]>=0 and ppChange[3]>=0
    uptrendCondition2= (priceOverPP or risingPrice) and ppFlat and aggressiveMode
    uptrendCondition3= risingPrice and fallingPP and aggressiveMode
    downtrendCondition1= price < PP and (ppChange<0 or (ppChange==0 and aggressiveMode)) and (ppChange[1]<0 or (ppChange[1]==0 and aggressiveMode)) and ppChange[2]<=0 and ppChange[3]<=0
    downtrendCondition2= (priceUnderPP or fallingPrice) and ppFlat and aggressiveMode
    downtrendCondition3= fallingPrice and risingPP and aggressiveMode

    if uptrendCondition1 or uptrendCondition2 or uptrendCondition3
        uptrend:= true
    else if downtrendCondition1 or downtrendCondition2 or downtrendCondition3
        uptrend:= false
    else
        uptrend:= uptrend[1]
    [PP,uptrend]

[trendline,uptrend]= isUptrend(price,length,aggressiveMode)

baseLinePlot = plot((open + close) / 2, display=display.none)
upTrendPlot = plot(uptrend ? trendline : na, "Up Trend", color = color.green, style=plot.style_linebr)
downTrendPlot = plot(not uptrend ? trendline : na, "Down Trend", color = color.red, style=plot.style_linebr)
fill(baseLinePlot, upTrendPlot, color.new(color.green, 90), fillgaps=false)
fill(baseLinePlot, downTrendPlot, color.new(color.red, 90), fillgaps=false)

if uptrend
    strategy.entry("Enter Long", strategy.long)
else if not uptrend
    strategy.entry("Enter Short", strategy.short)

Detail

https://www.fmz.com/strategy/363793

Last Modified

2022-05-17 13:47:42