OPEN-SOURCE SCRIPT
Updated BTC Candle Correlation Strategy
This is a special strategy adapted for crypto market, which instead of using the current chart candles, we use inside calculation a candle from different charts.
For best usage I recommend a big timeframe like 1-4h+.
In this case we take the high, low, open and close candles from different brokers for BTC, and with it we form up the candle that we are going to use for the logic of entry.
At the same time we are going to create an upper and lower bands using a moving average and the difference between high and low.
So in a way to put it, if BTC triggers a sell or buy order, we input instead these orders on the current chart, like in this example with ETH.
Rules for entry
For long : if we have a crossover of the btc source value with the upper band .
For short: if we have a crossunder of the btc source vale with the lower band.
For exit, we do it when we receive a different signal than the initial one.
This strategy does not have any other risk management inside, so use it with caution.
If you have any other questions, let me know !
For best usage I recommend a big timeframe like 1-4h+.
In this case we take the high, low, open and close candles from different brokers for BTC, and with it we form up the candle that we are going to use for the logic of entry.
At the same time we are going to create an upper and lower bands using a moving average and the difference between high and low.
So in a way to put it, if BTC triggers a sell or buy order, we input instead these orders on the current chart, like in this example with ETH.
Rules for entry
For long : if we have a crossover of the btc source value with the upper band .
For short: if we have a crossunder of the btc source vale with the lower band.
For exit, we do it when we receive a different signal than the initial one.
This strategy does not have any other risk management inside, so use it with caution.
If you have any other questions, let me know !
Release Notes
small detailsOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
🔻My Website: hercules.money/
🔻Blog: hercules.money/blog/
🔻Telegram : t.me/hercules_trading
🔻Discord: discord.gg/hudcJvcCAq
🔻Blog: hercules.money/blog/
🔻Telegram : t.me/hercules_trading
🔻Discord: discord.gg/hudcJvcCAq
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
🔻My Website: hercules.money/
🔻Blog: hercules.money/blog/
🔻Telegram : t.me/hercules_trading
🔻Discord: discord.gg/hudcJvcCAq
🔻Blog: hercules.money/blog/
🔻Telegram : t.me/hercules_trading
🔻Discord: discord.gg/hudcJvcCAq
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.