Need some feedback in order to improve this strategy further

[thecryptogandalf]

Hello guys, I have been working on this set up lately. This setup profits in uptrending market conditions, and It seems like it fails to filter out the ranging markets. I am thinking of adding ADX indicator to filter out the ranging markets may be?

I briefly checked it in TradingView and it seems to have merit. Examples of results on several assets and several timeframes. I looked at the ETHUSDT and BTCUSDT on 1 hour, 4 hour, and 1-day timeframes.

It opens a long position when the price is above EMA(21), Parabolic SAR, and when the MACD line is above the Signal line. Parabolic SAR and MACD indicators both have default settings.

I would like to improve this further. Here is the settings:

[Sterbens]

Market analysis methods are very diverse, maybe you even understand much better than I in setting trading indicators. So in my opinion when you find the right method, it may not necessarily be effective for other people. Because this is based on the level of accuracy of time, and in terms of understanding that is very diverse. All have their own appropriate method based on the needs of the traders themselves. To be honest I'm not a spot trader. For now, most of what I do is buy and hold. Not paying too much attention to market movements every time.

[thecryptogandalf]

Market analysis methods are very diverse, maybe you even understand much better than I in setting trading indicators. So in my opinion when you find the right method, it may not necessarily be effective for other people. Because this is based on the level of accuracy of time, and in terms of understanding that is very diverse. All have their own appropriate method based on the needs of the traders themselves. To be honest I'm not a spot trader. For now, most of what I do is buy and hold. Not paying too much attention to market movements every time.

I get your point and yes you are right about it. I forgot to mention I have the charts right below of that page in the picture and It is actually automated. So I enter the conditions, stop losses and take profits, and position size and it opens and closes automatically when the market conditions are fulfilled.

[Ararbermas]

What platform is that ? It's not familiar tho, and tbh i never seen such setup in trading views and you can setup a settings and etc. For me it seems like a bot that will automatically buy and sell depends on the settings or programs.  
Anyways, better to learn more about what indicators your using because sometimes they are not good in a current trends of the market even you are convinced that in different time frames they're showing a good sign.
And IMO as well much better to provide bots than using that kind of technique because surely you can make profits than that way, wherein, you are the one who customized the settings that despite you don't even know if it will work good .

[kapalmabur]

Market analysis methods are very diverse, maybe you even understand much better than I in setting trading indicators. So in my opinion when you find the right method, it may not necessarily be effective for other people. Because this is based on the level of accuracy of time, and in terms of understanding that is very diverse. All have their own appropriate method based on the needs of the traders themselves. To be honest I'm not a spot trader. For now, most of what I do is buy and hold. Not paying too much attention to market movements every time.

True though with the same method other people can't just use it and hope it will work,
because basically everyone has their own method and to find the right one I think it's not an easy thing and takes a lot of time,
I think everyone needs to understand something like that

[thecryptogandalf]

What platform is that ? It's not familiar tho, and tbh i never seen such setup in trading views and you can setup a settings and etc. For me it seems like a bot that will automatically buy and sell depends on the settings or programs.  

It is a trading platform called cleo.finance. It has manual trade and smart trade. The one I am using is the one in the picture is smart trading. So basically you can create pretty much any conditions you want for your entry and exit conditions via typing and change the parameters of the conditions like time frame, period, inherited asset, etc. You define your position size, leverage, and set your stop losses, and take profits and you can also manage your trading set up on the chart. Once you place, it enters and exits automatically when your conditions are fulfilled.

Anyways, better to learn more about what indicators your using because sometimes they are not good in a current trends of the market even you are convinced that in different time frames they're showing a good sign.
And IMO as well much better to provide bots than using that kind of technique because surely you can make profits than that way, wherein, you are the one who customized the settings that despite you don't even know if it will work good.

Yea I agree with you. Currently, I am backtesting and trying different combinations, checking the results on which indicator combination will be better for filtering out the ranging market for which pairs.

[sklopan]

I think that now there are more than enough strategies for work. Therefore, it is important to understand how to use it correctly.

[Rufsilf]

I guess you are too close to its finish line, almost was done.
Though haven't tried but as per to see with the setup, it s beyond the ordinary setups that many had develop. Well, it could be more interesting if it was just simple and friendly user. Because for me, it wasn't really necessary to have extra features as the most important is we can make use the platform in an easy way and of course, it is effective and profitable strategy.

Anyway, you are doing it well OP.

[tbct_mt2]

What is your investment plan?
Long term, medium term or you are simply trader or speculator

Because if you are investor, 1-day chart is not enough for you. You need to have a wider view with chart, with 1-week, 1-month chart.
If you are trader or speculator, 1-day or smaller windows are enough for you.

[LUCKMCFLY]

Well, sometimes it is difficult to be able to determine the direction of the market, if we start to review the things that can happen there are many, and seeing what you do can be fulfilled on certain occasions, my advice for what you are doing is, try to introduce what What does it say in the feelings indicator, the one that appears that fear, extreme fear, is there a way that you can introduce that indicator and that it be taken into account when making decisions? I consider this as an additional help for the analysis you do, it is a sentiment analyzer and if you manage to do it I think you will be able to have something more complete.