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New Pine Script Strategy: 2 weeks low

Usually (not neccesarily) BTC price movement bounce in 2 weekly cycle. This strategy is meant to buy the dip of  2-weeks low. So far it has performed really well despite the big dip.

Strategy Description: Buy order placed when the price touches 2-week low. 

Potential ROI Monthly (in sideway): 1-2%

Recommended Settings:

Pair: BTCUSDT , ETHUSDT

Time frame: 5mins

Initial Capital: 50

Base Currency: Default

Order Size: 11 USDT

Pyramiding: 4 orders

Commission: 0.1 %

Take Profit: 1%

Stop Loss: 0.5%

//@version=4
strategy("Buy Dip 2-week low [CapAyam.com]")

// Define the 4100-candles low price
low_4100 = lowest(low, 4100)

// Define the buy condition
buy_condition = low <= low_4100

// Create the buy order
if buy_condition
    strategy.entry("Buy", strategy.long)

// Define the take profit level
tp_price = close * 1.01

// Create the take profit order
strategy.exit("Take Profit", "Buy", limit=tp_price)

// Define the stop loss level
sl_price = close * 0.995

// Create the stop loss order
strategy.exit("Stop Loss", "Buy", stop=sl_price)

 

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