This script actually does not really involve any Technical Analysis (TA). It just a bot that runs on traditional martingale strategy.
Martingale startegy is a risk management strategy that originated in 18th-century France. It is based on the principle of doubling down on losses to recover them in the next winning trade.
Strategy description: It places BUY order and double down (according to the multiplier) when the price got lower. TP as per your setting. This strategy works best during bearish period with recovery pattern.
Recommended setting:
Pair: SUIUSDT (Binance)
Time frame: 5min
Min capital in wallet: 168 USDT
The code as follows:
**Please read the important instruction in the code.
//@version=5
strategy("SUI(Binance TF5)www.capayam.com", overlay=false, initial_capital=168, default_qty_type=strategy.percent_of_equity, default_qty_value=100, pyramiding=10, commission_type=strategy.commission.percent, commission_value=0.12)
// IMPORTANT!! Pay attention to Initial Capital, it equals to capital required in wallet.
// Usual minimum buy is 5usdt in many exchanges, thus the Initial Buy is 5.2usdt
// Capital needed for IB 5.2usdt: Multiplier 1.5 ~168usdt, Multiplier 1.75 ~342 usdt, Multiplier 2.0 ~661 usdt
// IMPORTANT! You MUST set the trading date to start on the day after today, meaning the earliest is tomorrow.
// IMPORTANT!! Ensure the decimals are correct; 1zero=1decimals, 2zeroes=2decimals, 0zeroes=NoDecimals
// Inputs
percentageDrop = input.float(2.7, title="Percentage Drop for Position Increase (%)", step=0.1) / 100
maxPositions = input.int(7, title="Max Positions (adjust in Pyramiding as well)", minval=1)
multiplier = input.float(1.5, title="Multiplier for Position Increase", minval=1, step=0.1)
takeProfitPct = input.float(2.7, title="Take Profit Percentage (%)", step=0.1) / 100
initialCapital = input.float(5.2, title="Initial Buy(adjust in initialCapital accordingly)", step=0.1)
stopLossPct = input.float(99, title="Stop Loss Percentage (%)", step=0.1) / 100
show_time = input(true, title="---Start Stop (Optional)---")
start_year = input(2024, title="Start Year")
start_month = input(12, title="Start Month (1-12)")
start_day = input(14, title="Start Day (1-31)")
stop_year = input(2025,title="Stop Year")
stop_month = input(12, title="Stop Month (1-12)")
stop_day = input(31, title="Stop Day (1-31)")
// Create timestamps from the input dates
start_trading_date = timestamp(start_year, start_month, start_day, 0, 0)
stop_trading_date = timestamp(stop_year, stop_month, stop_day, 23, 59)
// Variables
var float averageEntry = na
var float totalPositionSize = 0
var float totalCost = 0
var int positionCount = 0
var float lastPositionSize = na // Track the last added position size
// Price Levels
dropLevel = na(averageEntry) ? na : averageEntry * (1 - percentageDrop)
takeProfitLevel = na(averageEntry) ? na : averageEntry * (1 + takeProfitPct)
stopLossLevel = na(averageEntry) ? na : averageEntry * (1 - stopLossPct)
// Entry Condition [ADJUST DECIMALS ACCORDINGLY]
if na(averageEntry) and positionCount == 0 and (time >= start_trading_date) and (time <= stop_trading_date)
initialQty = math.round((initialCapital / close) * 10) / 10
strategy.entry("Initial Buy", strategy.long, qty=initialQty)
averageEntry := close
totalPositionSize := initialQty
totalCost := initialQty * close
positionCount := 1
lastPositionSize := initialQty // Initialize the last position size
if not na(averageEntry) and close <= dropLevel and positionCount < maxPositions
newPositionSize = lastPositionSize * multiplier // Calculate based on the last position size
roundedQty = math.round(newPositionSize * 10) / 10
strategy.entry("Add Position", strategy.long, qty=roundedQty)
totalCost := totalCost + roundedQty * close
totalPositionSize := totalPositionSize + roundedQty
averageEntry := totalCost / totalPositionSize
positionCount := positionCount + 1
lastPositionSize := roundedQty // Update the last position size
// Take Profit Condition
if not na(averageEntry) and close >= takeProfitLevel
strategy.close("Initial Buy")
strategy.close("Add Position")
averageEntry := na
totalPositionSize := 0
totalCost := 0
positionCount := 0
lastPositionSize := na // Reset the last position size
// Stop-Loss Condition
if not na(averageEntry) and close <= stopLossLevel
strategy.close("Initial Buy")
strategy.close("Add Position")
averageEntry := na
totalPositionSize := 0
totalCost := 0
positionCount := 0
lastPositionSize := na // Reset the last position size
// Plotting
plot(averageEntry, color=color.blue, title="Average Entry")
plot(takeProfitLevel, color=color.green, title="Take Profit Level")
plot(dropLevel, color=color.red, title="Drop Level")
plot(stopLossLevel, color=color.orange, title="Stop Loss Level")
Don't know how to set up your own bot? Read here, its easy!
ref:code 213
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