You can copy open the chart link below and copy to your own trading view account and if you have access to the HIVE and TTPTSL pine scripts you should be able to modify their parameters (let me know if not, never tried that before!).
I was wondering what would happen if I used TTPTSL in short mode entering a trade every time HIVE fires a sell on the 1 hour timeframe.
In this setup I’m using the HIVE 1H with the default settings in the 1 hour timeframe chart.
First of all we are going to set it to short mode.
We are going to use 2 and 1.5 as multipliers of the ATR and daily timeframe to make sure we allow BTC to dump as much as possible before closing the deal.
Notice that we are selecting the ext indicator DSC so that the Hive can tell TTPTSL when to open a new deal. Because of this all RSI and EMA settings will get ignored.
We are also ONLY going to backtest the bear market period which we can say it officially starts mid November 2021. We trade WITH the trend.
Results and P&L
I think this is a pretty interesting alternative from the perspective of how to handle the risk management. It could have been any signal, the point is when to exit. Where to place the stop loss, take profits, and the rules of your trailing.
There are plenty of times when the market it is just too obvious it’s struggling to hold and I would love to even have a bot that I could just manually start, it will enter a deal ASAP and then use TTPTSL to send it a signal when it needs to close that deal. In the chart you can see that this is done only once a month and it still offers a 60% profits. And that’s 60% of value you would have missed by only holding that BTC.
If you want to learn more about Hive or TTPTSL you can watch these video playlists: