OPEN-SOURCE SCRIPT
PMax - Asymmetric Multipliers
Description: This script is an enhanced version of the popular PMax (Profit Maximizer) indicator, originally developed by KivancOzbilgic. It has been converted into a full strategy with advanced customization options for backtesting and trend following.
Key Features & Modifications:
Asymmetric ATR Multipliers: Unlike the standard version, this script allows you to set different ATR multipliers for Upper (Short/Resistance) and Lower (Long/Support) bands.
Default Upper: 1.5 (Tighter trailing for Short positions)
Default Lower: 3.0 (Wider trailing for Long positions to avoid whipsaws)
Expanded MA Types: Added HULL (HMA) and VAR (Variable Index Dynamic Average) options.
VAR is highly recommended for filtering out noise in ranging markets.
HULL is ideal for scalping and faster reactions.
Built-in Risk Management: A fixed 5% Stop Loss mechanism is integrated into the strategy. It protects your capital by closing positions if the price moves 5% against you, even if the trend hasn't reversed yet.
Visibility Fix: Solved the issue where the PMax line would disappear or start at zero in the initial bars.
How to Use:
Use the VAR MA type for trend following in volatile markets.
Adjust the "Stop Loss Percent" input to fit your risk appetite.
The strategy employs an "Always In" logic (Long/Short) but respects the hard Stop Loss.
Credits: Original PMax logic by KivancOzbilgic.
Key Features & Modifications:
Asymmetric ATR Multipliers: Unlike the standard version, this script allows you to set different ATR multipliers for Upper (Short/Resistance) and Lower (Long/Support) bands.
Default Upper: 1.5 (Tighter trailing for Short positions)
Default Lower: 3.0 (Wider trailing for Long positions to avoid whipsaws)
Expanded MA Types: Added HULL (HMA) and VAR (Variable Index Dynamic Average) options.
VAR is highly recommended for filtering out noise in ranging markets.
HULL is ideal for scalping and faster reactions.
Built-in Risk Management: A fixed 5% Stop Loss mechanism is integrated into the strategy. It protects your capital by closing positions if the price moves 5% against you, even if the trend hasn't reversed yet.
Visibility Fix: Solved the issue where the PMax line would disappear or start at zero in the initial bars.
How to Use:
Use the VAR MA type for trend following in volatile markets.
Adjust the "Stop Loss Percent" input to fit your risk appetite.
The strategy employs an "Always In" logic (Long/Short) but respects the hard Stop Loss.
Credits: Original PMax logic by KivancOzbilgic.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.