always enjoy your videos, think it would make more sense to have sell signal = -1 and buy signal = +1 instead of 1 & 2, ideally you shouldn't need to download 2 different time frames, there must be a way to aggregate 6 (6x4=24H) candles on the 4H timeframe to make a 1D time frame.
Outstanding done as usual.....🤩 Improvement would be instead circles a triangle up or downl..... There are also other libraries for charting... I m not so a fan of this one... what about a tradingview similar chart.... this would be amazing!
i have a strategy i like you would try, based on the two timeframe approach , On the 1H time frame we detect the trend using 3 emas(50-100-200) and also if the MACD Histogram if Decreasing we can say the trend is Bearish, and if the 3 emas are bullish and the MACD histogram is Increasing we can say the trend is bullish, then we can go to a lower timeframe, e.g 5m or 15 m and look for an entry based on the same approach, the signal based on the trend of the 3 emas, and a trigger based on the MACD
Just an idea for possible multitimeframe analysis: Use 10 and 20 EMAS, if 10 above 20 it's a bullish trend, if 20 is above 10 it's a bearish trend. If you have a bullish trend on the 4h and 1h, track the 5 minute that needs to switch from bearish into bullish -> buy signal. If you have a bearish trend, do the opposite. Would you try this idea or is it too trivial?
What about adding some extra emas on your chart? If you have a 10 ema on a 15 min chart and you add a 40 ema on the chart is like seeing what is happening on the 1H chart (1 hour = 4 15min). Same for the 4H. Add a 160 ema on your 15min chart. I know that the ema is putting more weight on the recent candles but anyway in trading everything is relative. There are indicators (in Metatrader for example) that will plot an ema from higher time frames and it will usually look like a staircase because the value of the indicator will remain the same during the 8 15m candles.
@@vassiliscapsis5828 Yes, essentially the EMAs can account for different timeframes already, but it's still a multitimeframe approach worthy of testing. It's about lower TF trend realigning with the higher TF trend and using that fact to define entries and exits.
Vassilis has a point, it's actually true moving averages can be easily translated in between timeframes, I am more curious about let's say support resistance levels on Daily then we use these as strong levels on the hourly for example. Moving average might also be interesting... there is only one way to find out :) I will spare a day for this
@@CodeTradingCafe Yes I understand that EMA can easily account for different timeframes, I just spelled it out that way because I didn't want to calulate the exact lengths that correspond to the 1 hour 20 ema on a 5 minute chart and so on. But you get the idea. It's mostly about a trend realignment setups. It could be good to impose a minimum countertrend duration on the 5 min chart. That way, when the realignment happens, it's more meaningful. Either way, I'm happy you'll try to backtest any type of such strategy! Thanks for these instructional videos and your efforts!
Hi, I really admire your work, a few months ago I started to do my own coding and I have found the best bases for operations in your courses and your videos. I would like to know if it is possible to replicate a WWA trading strategy of Alex Garcia or Waqar Asim where they try to decrease the stop loss to the minimum so that even if you do not enter the trade the number of trades where you make entries are of large proportions. It is a scalping strategy but theoretically generates profits much higher than the losses with trades where operations are made with the risk of 1% to 100% profit. Thanks again for all your content, I will continue to follow your videos.😁
Hi, in theory anything is possible using python. But I will need to check the details and see how complex the implementation would be. If it works I will make a video about it.
Another potential approach is to run leveraged vs unleveraged or rotation strategy. If close on say SPY is under 50 MA (or whatever) then buy XLU (for example). If over 50 MA sell any XLU and buy UPRO (3x levered). All the other methods apply ie TP/SL etc
bro you can talk about how to create strategy in Indian stock market because this market always (new days) show gap Up and gap Down so you tell about how to create strategy code in Indian stock market 😐
Hi, I have no experience in the Indian market I wouldn't know what's best, you can adapt any of my codes to the asset of your choice though, it might work.
You only know a date is rejection only when the day is over, therefore you cannot forward fill this rejection signal to the lower time frame, you are seeing the future!
This looks like future bias though... If the daily forms a local maximum at, say, 1PM, this method then paints all the H4 candles of that day as being part of that rejection... But the first 3 H4 candles happened before 1 PM so, the H4 signal leaks information from the future, no? So any algo using the combined data would suffer future bias. Am I missing something?
I see your point, I will agree with you that in order to "see" a rejection on the daily, the day must be closed first. We do not know what the final strategy will look like, most probably will check if the previous day was a rejection so that we can catch an early move on the current 4H chart. Today's video is showing the technique of two different time frames using the ffill method
Totally agree with you the example shown in the video has a look ahead bias, I suggest shifting the daily signal by one day so you basically detect the rejection in the previous day and use this info today on the 4H timeframe... just as an example but then the possibilities are endless.
Be very careful when doing multi timeframe stuff. I've been cooked by accidental future leak. Specifically, when I sampled the 1h bars into minute bars and used those resampled hourly candle data. Which caused future leak.
I totally agree this was flagged by many comments, for now the solution is to consider the previous candle signal on the higher timeframe instead of the current candle. Like on the daily we check signals for the previous day not the current day. Thanks for sharing this, data leak is a curse while backtesting.