PRP – Pivot Reversal + PSAR Alerts

PRP Strategy

Content


Strategy on TradingView: https://www.tradingview.com/script/qvkltejs-PRP-Pivot-Reversal-PSAR-Strategy-QuantNomad/

Alerts on TradingView: https://www.tradingview.com/script/vxLbco20-PRP-Pivot-Reversal-PSAR-Alerts-QuantNomad/


Cost / Purchase

Subscription to alerts script costs 9.99$/month, 24.99$/quarter, 79.99$/year. You can choose to subscribe or to buy a one-time access without an automatic subscription (You will be responsible to purchase it again when access will expire). Strategy is free to use so you can check if the strategy is right for you.

You can also request a 7 days free trial access to these indicators.

For subscription, you can pay only with a credit card, for a one-time access credit card or a Paypal. Free trial won’t require any payment details from you.

Get Free 7 Days Trial

Subscribe Now

Purchase 1M Access – 9.99$   Purchase 3M Access – 24.99$   Purchase 1Y Access – 79.99$

How does this strategy work?

This strategy based on a standard pine script indicator called “Pivot Reversal Strategy.” You can find code for it in Pine Editor -> New section. 

The idea of the Pivot Reversal Strategy is straightforward. First, you have to find Pivot Highs/Pivot Lows points. Pivot High, for example, is a candle which has around it few candles on the left and on the right with lower highs level (for pivot lows higher lows). Levels of these points can be pretty good support/resistance levels. So when price crosses, these levels can be pretty good signals for a strategy. Here is my video on Pivot Points. 

In this strategy, I implemented two types of more advanced pivot points:

    • Significant Pivot Points. With the parameter “Sign. Pivot Points ATR Mult.” you can require that pivot point should have highs/lows higher/lower by a certain amount of ATRs. If you keep this parameter, 0 pivot points will be calculated in a usual way. 
    • Pivot of Pivots. When standard pivot high is surrounded with lower pivot highs, I consider it as a pivot of pivot high (opposite for pivot of pivot low). 

So long entry for this strategy is when price crosses over pivot high, short entry – price cross down pivot low. You can also enable additional filter for the entry. With parameter “Entry Bar TR (in ATRs)”

As exit for a strategy, you can choose 1 of 4 different trailing stop loss types: 

    • PSAR – Parabolic SAR indicator adapted as trailing stop loss. 
    • % – Trailing Stop Loss in % value
    • ATR – Trailing Stop Loss in ATR value
    • Absolute – Trailing Stop Loss in absolute value

What is this strategy good for?

Pivot Reversal + PSAR Strategy was developed for crypto for 15m to 2h timeframe. But it is very flexible so with different parameters it can work pretty good for different products and timeframes.

Here is an example of the performance of ETHUSD, 2h chart:

ETHUSD, 2H, Pivot Reversal + PSAR strategy

More examples you can find here.


Parameters

  • ATR Length – ATR length will be used in the strategy.
  • Type of Pivot Points – Standard or Pivots of Pivots
  • Pivot Left Bars – How many bars on the left from pivot point should have lower highs/ higher lows.
  • Pivot Right Bars – How many bars on the left from pivot point should have lower highs/ higher lows.
  • Sign. Pivot Points ATR Mult – Minimal difference from pivot point high/low and neighbors highs/lows
  • Entry Bar TR (in ATRs) – Require entry bars TR to be at least this amount of ATRs.
  • TSL Type: PSAR / % / ATR / Absolute
  • PSAR Start / Increment / Maximum – Standard PSAR Params
  • TSL % – value for % TSL
  • TSL ATR Mult – value for ATR TSL 
  • TSL Absolute value – value for Absolute TSL 
  • TSL Offset (In ATRs) – With what offset PSAR as TSL should start.
  • Strategy Side – You can select to see only Long/Short Side of Strategy
  • From/To Day/Month/Year – Backtesting Range for the strategy

Alerts

You will find 4 custom alerts in the study:

  • PRP Long Entry
  • PRP Short Entry
  • PRP Long Exit
  • PRP Short Exit

When creating alerts use the “Once Per Bar Close” option for all alerts


Frequently Asked Questions

Does this strategy repaint?

No, I don’t use any of the bugs in PineScript that cause strategy repainting.

Are these scripts free to use?

No, it’s my PRO indicators, you can purchase access to them using these links. You can still find quite a lot of free and open-source indicators on my TradingView profile.

Can I have a free trial for these scripts?

Yep, sure. Follow this link and I will give you 7 days free access to indicators so you can check if the strategy works for you personally.

Will I get access to the code of this script?

No, these are invite-only scripts on TradingView. You will be able to use them, but the code will be closed for you.

Is this strategy good for everything?

Unfortunately, no. This strategy is created for crypto and might work pretty well for other volatile products. But, unfortunately, it won’t work great for everything. So before purchasing it’s a good idea to get a free trial to make sure it works for you.

Can I modify your strategy?

As you don’t have access to code you can not modify it yourself. But if you think you know how to make it better – let me know. If I will decide that your modification is good enough I will add it to my scripts.

When will I get access to indicators?

After your purchase, I will grant you access in 24h max, usually it’s just a few hours.


Parameters Examples

The performance presented here is calculated at 2020-07-10. On the date you check it might be different.

BTCUSDT, 10m


ETHUSDT, 15m


ETHUSD, 30m


XRPUSDT, 1h


BNBUSDT, 2h

TSLA, 10m

Disclaimer

Please remember that past performance may not be indicative of future results.

Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.

This post and scripts don’t provide any financial advice.