What is Five Power TradingView Indicator and Strategy Backtester ?
Five power tradingview indicator has 5 different types buy-sell indicator. These indicators can be used for solo or multiple signal detection. When using the multiple function it uses all indicator signals. Also you can choose different types indicators for buy and sell signals.
Tradingview Indicator >>>MOST
Most uses different moving average types (SMA, EMA, DEMA, SMMA, WVMA, WMA, ALMA, HMA, LSMA) for buy and sell signals. When MOST upwards the MA it means sell and opposite positions mean buy signal. MOST follows the MA with % (changeable) stop-loss level.This is a basic explanation of MOST working principle.
MOST has 2 types algorithm which you can choose Type 1 (classical version) and Type 2 (sensitive version). Type 2 is more sensitive that’s why when using this version you may put % lower numbers for best settings.
In MOST menu MA Type –> “LSMA” has changeable settings “ALMA offset, ALMA sigma and LSMA offset”. You can use these settings when LSMA selected.
Tradingview Indicator >>>Marvelous Method
This indicator works in specific interval periods (5m,15m, 1h, 4h). Important thing is here you have to choose the right time frame on → “CHOOSE TİME FRAME” setting. When you are using 4h time frame you should write 4h (lower case) on setting bar. This indicator works well minimum 3m time frame and maximum 2day time frame.
Scale Range: Using fibonacci numbers on this setting recommended. (2, 3, 5, 8, 13, 21, 34, 55, 89, ….) → for example 0.0055.
For best settings you can put anything as you want. Because using multiple indicator form changes buy- sels success rate, this is valid for all indicators)
Tradingview Indicator >>> Coinsspor Tetra Ma
Coinsspor Tetra has 4 different types of moving average which you can set whatever you want. And you can choose your favourite MA Type “ZEROLAG, WİLDERS, EMA, DEMA etc.”
Buy Condition → While MA-3 cuts off MA-4 upwards Ma1 have to > Ma2
Sell Condition → While MA-4 cuts off MA-3 downwards Ma2 have to > Ma1
In MOST menu MA Type –> “LSMA” has changeable settings “ALMA offset, ALMA sigma and LSMA offset”. You can use this settings when LSMA selected.
Tradingview Indicator >>> Tillson T3
The Triple Exponential Moving Average (T3) by Tim Tillson attempts to offers a moving average with better smoothing then traditional exponential moving average.
Indicator >>> Inverse Fisher Transform Algo Types
The inverse fisher transform was authored by John Ehlers. The IFISH applies some math functions and constants to a weighted moving average (WMA) of the relative strength index (RSI) of the closing price to calculate its oscillator position. You can change the input and period lenghs for best settings.
IFT ALGO TYPE -1
In Five Power there are 2 types of IFT settings and you can choose 5 different indicator version in “IFT SOURCE”
setting. INV (CCI, RSI, STOCH, MFI and AVERAGE ) → INV AVEVARAGE = INV(CCI+RSI+STOCH+MFI) / 4
For example in ALGO Type 1 setting you can see standart version. We will add our chart RSI and IFTSTOCH, RSI
source selected IFSTOCH. As you can see there is a horizontal buy-sell lines. When IFTSTOCH upwards the main RSI it gives us buy a signal and downwards the main RSI this gives us sell signal. This is basic logic of Type 1. You can change buy-sell lines as you wish in five power settings.
IFT ALGO TYPE -2
In Algo Type 2 horizontal buy-sell lines are not functional. This is works basicly sensitiveness of “IFT source length” and “Smoothing length”. You can see on the chart.
Lastly IFT Algo Types has an extra setting. You may change buy and sell condition as you want. For example when main RSI bigger than 77, five power never gives us LONG signal. Also you may use short condition with same logic.
Five Power Trend Module
This setting is most powerfull side of Five Power. This module catch up & down trends with a tag and gives us bigger LONG-SHORT signals. Also in up-down trends, the indicator gives us little short-long signals too for taking profits.
Stop Loss-Take Profit
Stop Loss % → you can manage. ( %0 means stop loss close)
Take Profit → you can manage ( %0 means take profit close)
Margin On → If this setting activated you will see Long and Short tags also “take profit” and “stop loss” activated for SHORT settings.
Margin Off → Tags will see Buy-Sell only also “take profit” and “stop loss” activated for BUY settings. This is for spot markets