PROTECTED SOURCE SCRIPT
Somali Free Pips buy and sell
Title: Somali Free Pips Algo
Description: The Somali Free Pips Algo is a versatile trend-following strategy that combines EMAs, SMAs, and HMAs to generate buy and sell signals. This script is designed to help traders identify strong trend reversals and market momentum shifts. It uses a combination of moving averages to smooth price data and provide clear entry and exit signals, allowing traders to capitalize on strong market trends.
Key Features:
EMA Crossovers (Exponential Moving Average): The strategy calculates both short-term (50-period) and long-term (200-period) EMAs to identify market trends. A bullish crossover indicates a potential upward trend, while a bearish crossover suggests a downward trend.
SMA (Simple Moving Average): It also incorporates short-term (50-period) and long-term (200-period) SMAs to provide an additional layer of trend confirmation. These SMAs can be toggled on or off depending on the user's preference.
HMA Crossovers (Hull Moving Average): The script adds Hull Moving Average crossovers for more sensitive trend changes, with both a 15-period and a 10-period HMA to capture shorter-term price movements.
Candlestick Pattern Detection: The script includes detection for bullish and bearish engulfing patterns to provide strong buy or sell signals. When combined with EMA crossovers, these patterns help confirm trend reversals.
Customizable Alerts: The script allows users to configure alerts for important signals, such as strong buy/sell signals and HMA trend changes.
Backtesting Considerations:
The script uses realistic backtesting settings. While slippage and commissions are not included by default, traders should consider these factors in live trading scenarios.
Risk management is crucial, and traders are encouraged to adjust the strategy based on their own risk tolerance and trading style.
Past performance is not indicative of future results, and the script should be used as a tool to assist decision-making, not as a standalone solution.
Default Settings:
Short EMA Length: 50
Long EMA Length: 200
Short SMA Length: 50
Long SMA Length: 200
HMA Lengths: 15 and 10
Maximum Strong Buy/Sell Signals: 5 per chart
How to Use:
Look for strong buy labels when a bullish engulfing pattern coincides with a bullish EMA crossover.
Look for strong sell labels when a bearish engulfing pattern coincides with a bearish EMA crossover.
Use HMA crossovers to fine-tune your entries and exits based on shorter-term price action.
Chart Display:
The script provides a clean, easy-to-read chart with labeled buy/sell signals and color-coded candles.
Users can toggle the display of SMAs, HMA signals, and candlestick patterns to customize the chart to their preferences.
Notes:
Make sure to test the strategy using different settings in the strategy tester to find optimal parameters for your trading style.
You can modify the risk percentage and ATR multiplier to align with your risk tolerance.https://www.tradingview.com/x/W1MbLfqX/
Description: The Somali Free Pips Algo is a versatile trend-following strategy that combines EMAs, SMAs, and HMAs to generate buy and sell signals. This script is designed to help traders identify strong trend reversals and market momentum shifts. It uses a combination of moving averages to smooth price data and provide clear entry and exit signals, allowing traders to capitalize on strong market trends.
Key Features:
EMA Crossovers (Exponential Moving Average): The strategy calculates both short-term (50-period) and long-term (200-period) EMAs to identify market trends. A bullish crossover indicates a potential upward trend, while a bearish crossover suggests a downward trend.
SMA (Simple Moving Average): It also incorporates short-term (50-period) and long-term (200-period) SMAs to provide an additional layer of trend confirmation. These SMAs can be toggled on or off depending on the user's preference.
HMA Crossovers (Hull Moving Average): The script adds Hull Moving Average crossovers for more sensitive trend changes, with both a 15-period and a 10-period HMA to capture shorter-term price movements.
Candlestick Pattern Detection: The script includes detection for bullish and bearish engulfing patterns to provide strong buy or sell signals. When combined with EMA crossovers, these patterns help confirm trend reversals.
Customizable Alerts: The script allows users to configure alerts for important signals, such as strong buy/sell signals and HMA trend changes.
Backtesting Considerations:
The script uses realistic backtesting settings. While slippage and commissions are not included by default, traders should consider these factors in live trading scenarios.
Risk management is crucial, and traders are encouraged to adjust the strategy based on their own risk tolerance and trading style.
Past performance is not indicative of future results, and the script should be used as a tool to assist decision-making, not as a standalone solution.
Default Settings:
Short EMA Length: 50
Long EMA Length: 200
Short SMA Length: 50
Long SMA Length: 200
HMA Lengths: 15 and 10
Maximum Strong Buy/Sell Signals: 5 per chart
How to Use:
Look for strong buy labels when a bullish engulfing pattern coincides with a bullish EMA crossover.
Look for strong sell labels when a bearish engulfing pattern coincides with a bearish EMA crossover.
Use HMA crossovers to fine-tune your entries and exits based on shorter-term price action.
Chart Display:
The script provides a clean, easy-to-read chart with labeled buy/sell signals and color-coded candles.
Users can toggle the display of SMAs, HMA signals, and candlestick patterns to customize the chart to their preferences.
Notes:
Make sure to test the strategy using different settings in the strategy tester to find optimal parameters for your trading style.
You can modify the risk percentage and ATR multiplier to align with your risk tolerance.https://www.tradingview.com/x/W1MbLfqX/
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