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High profit – low Drawdown: Riding Trends with AutoTrendTrader

With my new Strategy, the AutoTrendTrader, you’ll receive a powerful Tool to identify strong Trends.

If you take some time to optimize the Settings, you have the Opportunity to find a Setup that is really mindblowing.

I found such a highly profitable Setup for ZRXBTC on the 4H Timeframe. You’ll get only a few Signals per Month, but according to the Backtests, more than 90% of the Trades are profitable.

Sounds almost too good to be true? But it’s getting better: Depending on your Account-size and the Position-sizes you are using, you’ll achieve almost 80% Net Profit with less than 5% Drawdown!

I’ve been using the AutoTrendTrader on the 5 Minute Chart with Autoview to automate my Trades – and this works pretty good. I wanted those instant Gratifications and the Kick you’ll get when you’re Trading on shorter Timeframes.  But Riding strong Trends can be more profitable and less risky – but it takes Time and Patience.

Maybe you’ll give it a Try?

See below the Settings I’ve been using for this profitable Setup.

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Five Steps to build a Crypto Trading Bot

Due to their high volatility, Cryptocurrencies are a perfect fit for algorithmic, automated – or as some might call it – robotic trading.There are different types of Crypto Trading Bots available, free and commercial ones. Using TradingView as a platform to develop, backtest and execute strategies that generate buy-/ sell signals has some major benefits – and this article should get you an Overview on the Architecture:

  • TradingView can be used free, although paid plans do have some useful benefits/ features
  • TradingView is web-based – Strategies can be developed and backtested in a Browser
  • You can use lot’s of free strategies or buy/ subscribe to commercial ones
  • You can implement your own strategies by using PineScript – there are lots of Documentations and Examples out there

There’s one thing that’s still not possible with TradingView and that’s executing trades based on your own scripts. But there is a workaround – it is a Chrome-Extension called Autoview. Autoview is an interface to some Crypto-Exchanges and a Forex-Broker. This is the List of Exchanges/ Brokers that are currently supported: 1Broker, Binance, BitMEX, Bittrex, OKCoin and Poloniex.Trade-Execution will be triggered by TradingView alerts.It would be a good Idea to install Google-Chrome on a VPS (Virtual Private Server), install the Autoview Extension and login into your TradingView account, but of course you can start playing around with Autoview on your Laptop.To get your feet wet with algorithmic/ automated Trading, go ahead and do the following Steps:

  1. Subscribe to TradingView by following this link. There is one pitfall with the free plan: you can only create one Alert while the most Strategies need at least two Alerts – one for Entry-Signals and one for the Exits. In a later Blog-Post I will describe a fully automated approach that needs only one Alert but for now you should use an advanced TradingView plan with a free Trial.
  2. Create a free Account at the Bitmex-Testnet – as far as I know Bitmex is the only Exchange that is supported by Autoview that supports Paper-Trading. Go to the Account-Settings, Submenu “API Keys”, create an API Key and save the Key somewhere so you can copy-paste it to your Autoview-Settings later. The most popular Symbol traded on Bitmex is XBTUSD which is a perpetual contract based on Bitcoin/ BTC. You can trade long or short and trade on Margin/ use Leverage. Other Symbols like Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC) and Ripple (XRP) are available too. If you intend to create a Live-Trading Account at Bitmex, you would do me a favor when you use this affiliate link.
  3. Assuming that you are already using Google Chrome (if not, get the Browser here), install the Autoview Extension, configure the Extension to use your Bitmex-Testnet Account by pasting the API Key, and make yourself familiar with the Alert-Syntax. You will use the Alert-Syntax to create Commands that will be executed each time an Alert is triggered.
  4. Do the hard Work: Pick a Strategy that has a Study-counterpart that both were made to be used with Autoview. You can go to the TradingView search-bar, chose to search for scripts and search for the keyword “autoview”. Or you can read the Autoview Documentation – there are a lot of tutorials and links to free Strategies/ Studies. Of course you could just subscribe to one of my Products – all of them are ready to be used with autoview, but starting with a free one by using the Bitmex-Textnet is a reasonable way to start your path to algorithmic Trading.
  5. Finally, if you picked a Study – create your Alerts as described in the Autoview Documentation to see if your configuration works and Trades go through the System. Maybe you start Trading on lower Timeframes to generate a lot of Signals. If Everything works and you understood what’s going on, it’s Time to optimize your Settings.

I will go into more Details later but this is a kind-of Quickstart Guide that gave you an Overview on how things are connected.If you have Questions, feel free to contact me via Email, Skype (stefan.krecher), TradingView-private Message (Trader stefcom) or fill out the Form on my Contact Page.

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Create alerts with multiple conditions

TradingView has a nice feature to add alerts based on some conditions. You could setup an alert, whenever price reaches a certain level or when price crosses an indicator that is available on the current chart.You get an email alert or a pop-up notification each time certain market conditions are met, so you can check the chart and decide to take a trader or not.Maybe you want to get notified if price is above a moving average, so you can check the chart and see if there is potential that price will move back.But usually buy and sell signals are more complex and combine multiple conditions. If your strategy looks like this: “create a buy signal if price is below the moving average and RSI is below 30”, you could setup two alerts – one for the moving average and one for RSI. If both alerts are triggered at almost the same time, you could decide to take the trade. But you would always need to monitor your alert messages and check if there are related conditions that will make up your buy/ sell signal in combination. This can become very confusing, especially if you consider to add more conditions to your strategy. Sadly currently there is no out-of-the-box option to create one alert that combines multiple conditions. But luckily you can solve the problem with very few lines of PineScript code.Just open the Pine editor with a blank indicator script and insert the following script:

//@version=2
study(“RSI+MA”, overlay=true)
// data series for RSI with length 14
rsi = rsi(close, 14)
// data series for Moving Average with length 9
ma = sma(close, 9)
// data series for buy signals:
//price should be below the moving average and RSI should be smaller than 40
buy_signals = close < ma and rsi < 30
// data series for sell signals:
//price should be above the moving average and RSI should be above 60
sell_signals = close > ma and rsi > 70
// draw some shapes on the chart if conditions are met
plotshape(buy_signals, style=shape.triangleup, text=”up”)
plotshape(sell_signals, style=shape.triangledown, text=”down”)
// create alert conditions so that alerts can be create via the add alerts dialog
alertcondition(buy_signals, title=’Buy-Signal’, message=’price is below the MA and RSI is below 40′)
alertcondition(sell_signals, title=’Sell-Signal’, message=’price is above the MA and RSI is above 60′)

view rawRSI+MA.js hosted with ❤ by GitHub

This indicator will plot up- and downward-pointing triangles, whenever the buy-/ sell-conditions are met.

In line 5 and 7, data series are created for the indicators you would like to use. For the sake of clarity, the length of the RSI and MA are hardcoded but could also be provided by an input dialog.

The conditions that implement the strategy are implemented in line 11 and 15. The RSI treshold is hardcoded as well.

To have a visual representation of the signals, we will plot triangles, see line 18 and 19.

To not only see the signals on the chart, but to get the opportunity to create alerts, we need to introduce alertconditions in line 22 and 23.

And that’s it – click on the “Add to chart” button and see how the triangles are plotted to the chart:

As you can see on this EURUSD 1H chart, there are some promising signals based on this very basic strategy of just combining RSI and MA.

The next step is to setup the alerts, so you get notified while you are on the go.

The next step is to setup the alerts, so you get notified while you are on the go. To do this, open the “Add Alert” dialog.

The default condition for alerts is always based on the price of the current financial instrument, so be sure to select the newly created indicator “RSI+MA” instead of “EURUSD”.

The indicator script implemented two alert conditions, one for buy-signals and one for sell-signals. So we need to setup two alerts, if we want signals for both directions.

Finally you just need to configure the frequency and the alert actions and maybe you want to customize the alert message text – everything is quite self-explanatory.