Strategy Myth-Busting #1 - UT Bot+STC+Hull [MYN] by myncrypto
By myncrypto
Performance Metrics
- Author: myncrypto
- Symbol: NASDAQ:NVDA
- Timeframe: 5 minutes
- Net P&L: −689.16 USD (−69.83%)
- Win Rate: 46.8%
- Profit Factor: 0.559
- Max Drawdown: 722.30 USD (72.27%)
- Total Trades: 231
- Sharpe Ratio: −0.512
Description
Jul 31, 2022This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.Our first one is an automated version of the "The ULTIMATE Scalping Trading Strategy for 2022" strategy from "My Trading Journey" who claims to have achieved not only profits but a 98.3% win rate. As you can see from the backtest results below, I was unable to substantiate anything close to that that claim on the same symbol (NVDA), timeframe (5m) with identical instrument settings that "My Trading Journey" was demonstrating with. Strategy Busted. If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.This strategy uses a combination of 3 open-source public indicators:UT Bot Alerts by QuantNomadSTC Indicator - A Better MACD By shayankmBasic Hull Ma Pack tinkered by InSilicoTrading Rules:5 min candlesLongNew Buy Signal from UT Bot Alerts StrategySTC is green and below 25 and risingHull Suite is greenShortNew Sell Signal from UT Bot Alerts StrategySTC is red and above 75 and fallingHull Suite is redJan 18, 2023Release Notes*** As represented by the backtesting results DO NOT use this strategy. This was purely developed and automated for educational purposes to validate such strategy ***This is part of a new series we are calling "Strategy Myth-Busting" where we will take open public manual strategies and automate them, validating with TradingView's Backtesting engine.Our first one is an automated version of the "The ULTIMATE Scalping Trading Strategy for 2022 gets 98.3% WIN RATE" strategy from My Trading Journey's YouTube channel.If you know of or have a strategy you want to see on this new series of "Strategy Myth-Busting" or just have your own idea for one, Please feel free to message me.This strategy uses 3 different indicators:UT Bot Alerts by QuantNomadSTC Indicator - A Better MACD By shayankmBasic Hull Ma Pack tinkered by InSilicoTrading Rules:15 min candlesLongNew Buy Signal from UT Bot Alerts StrategySTC is green and below 25 and risingHull Suite is greenShortNew Sell Signal from UT Bot Alerts StrategySTC is red and above 75 and fallingHull Suite is red