I was watching this video about how to improve performance using volume and decided to code it to give it a try.
The new indicator is called “TTP PSAR MA VOL” and basically uses:
- Parabolic SAR as deal open condition
- MA for trend following
- 3 different volume indicators: volume fight, VSA volume spread, Volume heatmap.
The signal allows you to decide how many volume indicators must be in confluence to trigger the deal open. It also allows to toggle each individual volume indicator.
By default its setup for longs but it offers a setting to reverse to shorts.
It prints 1 for deal open and also prints 2 for deal close. THe deal close comes from PSAR.
It can be used with multiple backtesters like Risk Savage, Gavins backtester, etc.
Manual trading
You can use it with manual trading.
I stole the idea from trend meter indicator of showing each individual signal state with one dot.
First enable labels for indicators in your chart. Click on the side of the chart, go to labels and enable them.
Now you’ be able to what is each dot about. You can see the deal open and deal close separately. PSAR, MA, VSA, vol heatmap and vol fight have each one a separated state.
Remember that deal close comes from PSAR changing trend.
You can now decide how to trade manually with this but since you can backtest it I’d recommend to do that first!
Initial results
I haven’t had the chance to test it extensively but I gave it an initial try with Risk Savage using longs and shorts. Placing stop loss in swing low/high and with risk reward ratio of 1.5 and 2.
I’m not as impressed but I think I haven’t really spent enough time with it yet so I thought in the meantime you guys can have a look on Saturday once you receive permissions and let me know what you think.
You can try it with Gavins, Aster, TTPTSL, Risk Savage, etc.
NEW: Example setup
A setup using ETH. Long and short. Spot PNL in 70 days: 100%
Requirements: Latest version of Risk Savage v0.35 It uses the new field swing set to “close” in the short instead of “lowhigh”.
Availability
All TTP tiers from Picnic.
You should receive access to the indicator on Saturday 25th of February 2023.