https://www.tradingview.com/script/HO1KUbCQ-Market-Sniper-Trading-Scalping-Suite/
Welcome to Market Sniper.
Market sniper is meant to be a standalone suite for trading/scalping.
It is based on over 15 Indicators/Oscillators so there is no need for convoluted charts and constantly changing charts/indicators for a better understanding of the market.
It is meant for everyone and designed in a way anyone regardless of experience can profitably trade/scalp.
Warnings:
if you own a potato computer beware this algorithm is heavy and will get A LOT heavier as many features will be implemented soon.
IT DOES NOT WORK BELLOW 10min as I am having a problem with the security function calling higher timeframes (tough it works in every single other timeframe)(if anyone knows how to fix please pm).
ALWAYS ZOOM TO MAX BEFORE DOING A TRADE as a label might be hiding behind another one (if anyone knows how to fix please pm)
What it includes:
Bear Market indicator for cryptocurrencies;
Fibonacci Moving Averages;
RSI Divergences (Credit to Libertus, check him out, he has great scripts)
Macd, Stochastics, money flow , CCI , momentum, DIOSC (automatic trendlines ), SuperTrend, Moving averages, etc, etc.
Divergence scalping/trading
Divergence works with drives, meaning a single indication is usually not enough to perform a trade(but it is to reduce a long), the sweet spot is usually 3 (depends on timeframe and depends on how strong the move before it was)
RSI pivots are great for profit taking bottom/top finding.
Trend reversal indicators has 8 levels (which are all strong indications):
empty label - mainly for higher timeframes
1 and 2 should be used with caution when trading a downtrend (Still great for scalps)
Medium - Don't be fooled by nomenclature, it is a very strong signal still, you can act upon it without any worries.
Strong
Stronger
Buy/Sell more - this will probably never show in higher timeframes (thought if the script worked in the 1s - 5min timeframes it would give trades you could take and close your eyes)
Strong Buy/Sell - this will probably never show in higher timeframes (thought if the script worked in the 1s - 5min timeframes it would give trades you could take and close your eyes)
Trend continuation indicators:
This is the trickiest to use. IT IS NOT MEANT TO BE USED TO OPEN NEW POSITIONS! (but an experienced trader can easily see when it can)
These mean the Trend is strong or getting stronger. Also means some indicator(s)/oscillator(s) are overextended, which usually ends in a short retrace giving another possibility to add to a position.
Moving Averages:
The background red/green bars can also be followed single-handedly for a profitable trading, thought it has less than 50% chance of profitable trades.
Bear/Bull Market indicator:
This is a simple cross that shows us the Main Trend of the market. it is meant for cryptocurrencies only, since traditional markets respond to different crosses.
Main Trend definition:
The main trend is defined by 3 colors:
Blue: Very strong uptrend.
Red: Downtrend
Yellow: Uptrend or consolidation
The yellow usually means the market is consolidating before moving higher or distributing before crashing.
How I use the script:
I Check if we are in a Bear/Bull market
Check the direction of the trend (Blue/yellow/red background)
Open the higher timeframes and see what is showing more strength
Go to the 15minutes and wait for entries:
📷this is a series of trades I did.
https://www.tradingview.com/x/oA6YXmbU
1) On the green and yellow MEDIUM at the left I was mostly out of the market.
2) The higher timeframes were pointing to 3 drives of bearish divergence. so that meant we did not have too much strength atm + formation was pointing to distribution the day before.
3) After the 2 STRONGER signals I waited to see if price would rise above the orange 200EMA, after that I entered the market with a medium position (had a small long left)
4) The first bearish divergence arrow I ignored, closed most of my long on the red MEDIUM which was accompanied by the second drive of bearish divergence and closed position (left residual position).
5) Next morning we had 3 drives of bullish divergence which coincided with what appeared as price consolidation at the 4H EMA . The higher timeframes were giving off 3 drives of bearish divergence so at the red 1 I built a small short position with a Stop-Sell below the lows.
6) Closed a big portion of my position at the green 1 that came with the 2nd drive of bullish Div after a steep drop and closed the rest at the green dot .
7) at the 3rd triangle I inverted into a small long and got caught in the drop (in retrospect I should have had a stop loss since I wasn't in front of the pc and price was below all moving averages in higher timeframes)
8) at the bottom I was holding a small bag and the algo was showing trend reversal in many timeframes and 3 drives of bullish divergence in the 1H. made a big purchase and bought even more after breaking the 15min 233 EMA
9) At the 5th bearish div I was out of the market and opened a short at the MEDIUM
The ema strategy, background coloring signals, RSI divergences and Trend reversal signals are by itself profitable. now join it all toghether :)
Next updates:
Alerts
Clear some fakeouts without it causing reprinting
Adding volume to the equation
Tweaking the script to auto detect timeframe and adjust settings for perfect trading
Only act on signals after said closes
In some extreme cases RSI can reprint
REMEMBER: FEEDBACK IS IMPORTANT
No comments:
Post a Comment