BuyTheDip

Well, I often had arguments in online forum with a guy who claimed to time the market perfectly without any technical analysis or prior experience. He often claimed that technical analysis does not work and it only works when you trade on other's emotions. He also argued that algorithmic trading isn't profitable - if so, everyone would do that. Hence, I thought I will convert his idea to algorithm.

In his own words, the strategy is as below:

Chose an instrument which is in full uptrend.
Wait for the panic sell and buy the dip
Once market recovers back exit immediately

It seems to do just fine with indexes. But, not so good when it comes to stocks.

Release Notes

Reduce initial capital to 10k to avoid getting moderated. Cannot reduce further as buy operation will not work on index otherwise.

Have kept 100% equity without compounding so that it will be easier to compare with buy and hold.

Release Notes

Remove calc_on_order_fills

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.

Trendoscope

Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io

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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

Trendoscope

Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io

Also on: