OPEN-SOURCE SCRIPT
TTM Grid Strategy
This strategy uses a TTM (based on EMAs of highs and lows) to determine the market's trend direction.
It then deploys a grid trading system around a dynamically updated base price, with the grid's direction and levels adjusting based on the trend.
Trades are executed as the price crosses the predefined grid levels, with the strategy risking a set percentage of equity per trade.
Core Strategy Logic:
TTM State Calculation (ttmState() function):
* Calculates two EMAs based on the `ttmPeriod`: one for the lows (`lowMA`) and one for the highs (`highMA`).
* Defines two threshold levels: `lowThird` (1/3 from the bottom) and `highThird` (2/3 from the bottom) of the range between `highMA` and `lowMA`.
* Returns the current TTM state as an integer:
+ `1` if the close price is above `highThird` (indicating an uptrend).
+ `0` if the close price is below `lowThird` (indicating a downtrend).
+ `-1` if the close price is between `lowThird` and `highThird` (indicating a neutral state).
It then deploys a grid trading system around a dynamically updated base price, with the grid's direction and levels adjusting based on the trend.
Trades are executed as the price crosses the predefined grid levels, with the strategy risking a set percentage of equity per trade.
Core Strategy Logic:
TTM State Calculation (ttmState() function):
* Calculates two EMAs based on the `ttmPeriod`: one for the lows (`lowMA`) and one for the highs (`highMA`).
* Defines two threshold levels: `lowThird` (1/3 from the bottom) and `highThird` (2/3 from the bottom) of the range between `highMA` and `lowMA`.
* Returns the current TTM state as an integer:
+ `1` if the close price is above `highThird` (indicating an uptrend).
+ `0` if the close price is below `lowThird` (indicating a downtrend).
+ `-1` if the close price is between `lowThird` and `highThird` (indicating a neutral state).
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.
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.
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.