PMax - Asymmetric Multipliers — Strategy by algotrader06
By algotrader06
Performance Metrics
- Author: algotrader06
- Symbol: BIST:ASELS
- Timeframe: 1 hour
- Net P&L: +10,456.41 TRY (+96.88%)
- Win Rate: 35.4%
- Profit Factor: 1.501
- Max Drawdown: 4,797.28 TRY (41.66%)
- Total Trades: 65
Description
Description: This script is an enhanced version of the popular PMax (Profit Maximizer) indicator, originally developed by KivancOzbilgic. It has been converted into a full strategy with advanced customization options for backtesting and trend following.Key Features & Modifications:Asymmetric ATR Multipliers: Unlike the standard version, this script allows you to set different ATR multipliers for Upper (Short/Resistance) and Lower (Long/Support) bands.Default Upper: 1.5 (Tighter trailing for Short positions)Default Lower: 3.0 (Wider trailing for Long positions to avoid whipsaws)Expanded MA Types: Added HULL (HMA) and VAR (Variable Index Dynamic Average) options.VAR is highly recommended for filtering out noise in ranging markets.HULL is ideal for scalping and faster reactions.Built-in Risk Management: A fixed 5% Stop Loss mechanism is integrated into the strategy. It protects your capital by closing positions if the price moves 5% against you, even if the trend hasn't reversed yet.Visibility Fix: Solved the issue where the PMax line would disappear or start at zero in the initial bars.How to Use:Use the VAR MA type for trend following in volatile markets.Adjust the "Stop Loss Percent" input to fit your risk appetite.The strategy employs an "Always In" logic (Long/Short) but respects the hard Stop Loss.Credits: Original PMax logic by KivancOzbilgic.