BTC Candle Correlation Strategy: Free TradingView Strategy (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

91 lines of Pine Script v4 from BTC Candle Correlation Strategy.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

BTC Candle Correlation Strategy.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © exlux99
//@version=4
strategy(title="BTC Candle Correlation Strategy", overlay=true, initial_capital = 1000, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent, commission_value=0.1, pyramiding=1  )
//sources for average
src_c = close
src1_c = security("BITFINEX:BTCUSD", timeframe.period, src_c), src2_c = security("POLONIEX:BTCUSDT", timeframe.period, src_c),
src3_c = security("BITSTAMP:BTCUSD", timeframe.period, src_c), src4_c = security("COINBASE:BTCUSD", timeframe.period, src_c),
src5_c = security("BITMEX:XBTUSD", timeframe.period, src_c), src6_c = security("KRAKEN:XBTUSD", timeframe.period, src_c),
src7_c = security("BINANCE:BTCUSDT", timeframe.period, src_c)
src_h = high
src1_h = security("BITFINEX:BTCUSD", timeframe.period, src_h), src2_h = security("POLONIEX:BTCUSDT", timeframe.period, src_h),
src3_h = security("BITSTAMP:BTCUSD", timeframe.period, src_h), src4_h = security("COINBASE:BTCUSD", timeframe.period, src_h),
src5_h = security("BITMEX:XBTUSD", timeframe.period, src_h), src6_h = security("KRAKEN:XBTUSD", timeframe.period, src_h),
src7_h = security("BINANCE:BTCUSDT", timeframe.period, src_h)
src_l = low
src1_l = security("BITFINEX:BTCUSD", timeframe.period, src_l), src2_l = security("POLONIEX:BTCUSDT", timeframe.period, src_l),
src3_l = security("BITSTAMP:BTCUSD", timeframe.period, src_l), src4_l = security("COINBASE:BTCUSD", timeframe.period, src_l),
src5_l = security("BITMEX:XBTUSD", timeframe.period, src_l), src6_l = security("KRAKEN:XBTUSD", timeframe.period, src_l), 
src7_l = security("BINANCE:BTCUSDT", timeframe.period, src_l)
src_o = open
src1_o = security("BITFINEX:BTCUSD", timeframe.period, src_o), src2_o = security("POLONIEX:BTCUSDT", timeframe.period, src_o),
src3_o = security("BITSTAMP:BTCUSD", timeframe.period, src_o), src4_o = security("COINBASE:BTCUSD", timeframe.period, src_o),
src5_o = security("BITMEX:XBTUSD", timeframe.period, src_o), src6_o = security("KRAKEN:XBTUSD", timeframe.period, src_o),
src7_o = security("BINANCE:BTCUSDT", timeframe.period, src_o)
//declaring variables
candle_open = avg(src1_o, src2_o, src3_o, src4_o, src5_o, src6_o, src7_o)
candle_high = avg(src1_h, src2_h, src3_h, src4_h, src5_h, src6_h, src7_h)
candle_low = avg(src1_l, src2_l, src3_l, src4_l, src5_l, src6_l, src7_l)
candle_close = avg(src1_c, src2_c, src3_c, src4_c, src5_c, src6_c, src7_c)
//plots
//plotcandle(candle_open, candle_high, candle_low, candle_close, title = "Average BTC candles", color = open < close ? color.green : color.red, wickcolor = color.white)
 
//////////////////////////////////////////////////////////
// high^2 / 2 - low^2 -2
h=pow(candle_high,2) / 2
l=pow(candle_low,2) / 2
o=pow(candle_open,2) /2
c=pow(candle_close,2) /2
x=(h+l+o+c) / 4
y= sqrt(x)
source = y
useTrueRange = false
length = input(9, minval=1)
mult = input(0.9, step=0.1)
ma = sma(source, length)
range = useTrueRange ? tr : candle_high - candle_low
rangema = sma(range, length)
upper = ma + rangema * mult
lower = ma - rangema * mult
crossUpper = crossover(source, upper)
crossLower = crossunder(source, lower)
bprice = 0.0
bprice := crossUpper ? candle_high: nz(bprice[1])
sprice = 0.0
sprice := crossLower ? candle_low  : nz(sprice[1])
crossBcond = false
crossBcond := crossUpper ? true
     : na(crossBcond[1]) ? false : crossBcond[1]
crossScond = false
crossScond := crossLower ? true
     : na(crossScond[1]) ? false : crossScond[1]
cancelBcond = crossBcond and (source < ma or candle_high >= bprice )
cancelScond = crossScond and (source > ma or candle_low <= sprice )
longOnly = input(true)
fromDay = input(defval = 1, title = "From Day", minval = 1, maxval = 31)
fromMonth = input(defval = 1, title = "From Month", minval = 1, maxval = 12)
fromYear = input(defval = 2000, title = "From Year", minval = 1970)
 //monday and session 
// To Date Inputs
toDay = input(defval = 31, title = "To Day", minval = 1, maxval = 31)
toMonth = input(defval = 12, title = "To Month", minval = 1, maxval = 12)
toYear = input(defval = 2021, title = "To Year", minval = 1970)
startDate = timestamp(fromYear, fromMonth, fromDay, 00, 00)
finishDate = timestamp(toYear, toMonth, toDay, 00, 00)
time_cond = time >= startDate and time <= finishDate 
if(longOnly==false and time_cond)
    if (crossLower)
        strategy.cancel("long")
    if (crossUpper)
        strategy.entry("long", strategy.long)
    if (cancelScond)
        strategy.cancel("short")
    if (crossLower)
        strategy.entry("short", strategy.short)
if(longOnly and time_cond)
    if (crossLower)
        strategy.close("long")
    if (crossUpper and candle_close > candle_open)
        strategy.entry("long", strategy.long)
Expand (114 lines)

Overview

BTC Candle Correlation Strategy derives a composite price value using quadratic averaging and plots a volatility envelope around its simple moving average. Trade entries trigger when the composite price crosses the upper or lower channel bands. User settings control the smoothing length, channel multiplier, long-only toggle, and backtest date range. The strategy displays directly on the price chart and includes no stop-loss rules.

Multi-exchange aggregate Bitcoin price calculation
Volatility envelope based on average candle ranges
Quadratic mean composite price source
Backtest date range filtering
Long-only trading toggle

Details

Published by

hasnocool on GitHub

Code credit

exlux99, as written in the script's header

Type

Strategy, Pine Script v4

Draws

On the price chart

Markets

Crypto

Timeframes

Any timeframe

Risk Notes

The strategy enters trades without a stop loss

File

BTC Candle Correlation Strategy.pine

Repository

github.com/hasnocool/tradingview-pine-scripts. See its other scripts in the library

Topics

analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
length	`int`	`9`	`length`
mult	`float`	`0.9`	`mult`
longOnly	`bool`	`true`	`longOnly`
From Day	`int`	`1`	`fromDay`
From Month	`int`	`1`	`fromMonth`
From Year	`int`	`2000`	`fromYear`
To Day	`int`	`31`	`toDay`
To Month	`int`	`12`	`toMonth`
To Year	`int`	`2021`	`toYear`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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