LazyBear

Pip collector [LazyBear]

A simple but effective Forex strategy requested by user @pipcollector.

Suggested chart timeframe is 5mins.

Indicator marks potential long/short entries based on the following conditions:

LONG
------
  • Price above pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
  • Background color is set to GREEN (if option is enabled).
  • As soon as price touches or crosses the median ema , a GREEN arrow is shown to mark potential long.

SHORT
------
  • Price below pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
  • Background color is set to RED (if option is enabled).
  • As soon as price touches or crosses the median ema , a RED arrow is shown to mark potential short.

NO SETUP
-----------
  • Moving averages do not align on the 3 timeframes.
  • Background color is set to GRAY (if option is enabled)

I have noticed that this works well on other instruments too (anything trending), also on higher time frames. Feel free to leave any questions/comments on this below.

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
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//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
study("Pip collector [LazyBear]", shorttitle="PIPCOLL_LB", overlay=true, precision=6)
src=input(close, title="Source")
tf1=input("D", title="Timeframe 1"), tf2=input("240", title="Timeframe 2"), tf3=input("60", title="Timeframe 3")
lengthCenter=input(50, title="Center EMA Length")
lengthLower=input(20, title="Distance of lower line from center (pips)")
lengthUpper=input(20, title="Distance of upper line from center (pips)")
showBGColor=input(false, title="Background color on all EMA synch?")
pip=syminfo.mintick 
ltfsrc=ema(src, lengthCenter) < src
stfsrc=ema(src, lengthCenter) > src
ltf1=security(tickerid, tf1, ltfsrc), stf1=security(tickerid, tf1, stfsrc)
ltf2=security(tickerid, tf2, ltfsrc), stf2=security(tickerid, tf2, stfsrc)
ltf3=security(tickerid, tf3, ltfsrc), stf3=security(tickerid, tf3, stfsrc)
ctfsrc=ema(src,lengthCenter), ctfsrcl=ctfsrc-lengthLower*pip, ctfsrcu=ctfsrc+lengthLower*pip
long=ltf1 and ltf2 and ltf3 
short=stf1 and stf2 and stf3 
plot(ctfsrc, color=blue, linewidth=2, title="Center EMA")
plot(ctfsrcl, color=red, linewidth=2, title="Lower")
plot(ctfsrcu, color=green, linewidth=2, title="Upper")
inrange(x)=>(x>=low and x<=high)
plotarrow(long and ((src==ctfsrc) or cross(src, ctfsrc) or (inrange(ctfsrc)))?low:na, maxheight=30, title="Buy Arrow",  colorup=lime)
plotarrow(short and ((src==ctfsrc) or cross(src, ctfsrc) or (inrange(ctfsrc)))?-high:na, maxheight=30, title="Buy Arrow",  colordown=red)
bgcolor(showBGColor?(ltf1 and ltf2 and ltf3)?green:(stf1 and stf2 and stf3)?red:black:na, transp=85)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Commentaires

Hi Lazybear,
Are you aware that this indicator is repainting really badly. I tried to test it live and it's not a pretty Picture when Applied to real market. The background colors are shifting constantly back in time. Impossible to back test.
Do you have any idea of how to fix the problem?
+13 Répondre
lucky0309 Markettimerdk
@Henroy, It has to repaint...it is using closing prices
Répondre
lucky0309 Markettimerdk
@Henroy, use the OHLC4 or Open setting to reduce or remove repainting. It will effect the profitability and effectiveness of the strategy.
Répondre
FaithonFire lucky0309
@lucky0309, Thanks for the heads up and I changed my settings to open !! see how that works!! Have a great week!
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justnifty Markettimerdk
@LazyBear is it true? than its none of use? please guide us.
Répondre
Hi Lazybear,

I have 2 questions for you if you might be so kind to answer! On charts that are less that one day periods the sell arrows show up as buy arrows, and why don't the buy or sell arrows show prior to dates in 2014? How could I correct these issues if possible? Thanks for you're time!
+10 Répondre
What are the indicators values?
+1 Répondre
Not sure what people are on about with Repainting. The bands are all you need. One of my fav indicators to date! Keeps the noise to a min! Nice work. Thanks
Répondre
@LazyBear is it possible to make a strategy here?
BUY when BG changes to green
SELL when BG changes to red
CLOSE when BG changes to gray...either long/short.
can you help?
thanks.
Répondre
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