Dr. Wotan
Hello Wizards out there!
Do you want to take your trading to the next level and benefit from the advantages of automated strategies? Then you are in the right place! In this article, I will show you how to develop a fully automated trading strategy using two indicators, an oscillator, and the unique L5 Risk Management from DJ MAD. And the best part: with our Wizard TradingTool, implementation becomes a breeze. So, let's get started!
Before we delve into the indicators and the oscillator, let's first look at the foundation of our strategy:
MAD MBS L4 Processor x16: This processor is the heart of our strategy. It processes the input signals from the indicators and outputs the final trading signals. More info can be found here.
MAD MBS L5 RiskManagement: This component is essential for solid risk management. Alternatively, you can also use the Multibit Alert. Here are the links to both:
Now to the tools that drive our strategy:
MAD CurveBuilder: This indicator is particularly useful for determining market direction. You can subscribe to it and register on the whitelist in the Mad Lab on our website. Here is the info and registration. With the CurveBuilder, you can replicate all indicators based on moving averages – even paid or closed-source indicators, as shown in the video where we replicate the Easy MTF.
William Trailing Stop: A free indicator on TradingView that needs some adjustments for our purposes. The script and adjustments can be found here.
ADX DI: Also a free indicator that needs some adjustments to process the output signals in the processor. More info can be found here.
To adjust the indicators for our strategy, you need to insert a script piece, which we provide here.
//*********** Simplesignal Implementation
signalout = 0
signalout := a_L3_long ? 1 : a_L3_short ? -1 : 0
BM_color_signal = a_L3_long ? #4C9900 : a_L3_short ? #CC0000 : color.black
L_digital_signal = plot(signalout, title='Digitalsignal', color=BM_color_signal, style=plot.style_columns, display=display.none)
//*********** MULTIBIT Implementation
import djmad/Signal_transcoder_library/7 as transcode
bool [] Multibit = array.new<bool>(16,false)
if inputtype == 'MultiBit' or inputtype == 'MultiBit_pass'
Multibit := transcode._16bit_decode(inputModule)
if inputtype != 'MultiBit_pass'
transcode.f_infuse_signal(Signal_Channel_Line1, a_L1_long, Signal_Channel_Line2, a_L1_short, Signal_Channel_Line3, a_L2_long, Signal_Channel_Line4, a_L2_short, Signal_Channel_Line5, a_L3_long, Signal_Channel_Line6, a_L3_short, Multibit)
float plot_output = transcode._16bit_encode(Multibit)
plot(plot_output,title='MultiBit Signal',display=display.none)
//}
The MAD MBS processors are the heart of our automated trading strategy. They allow you to process signals from various indicators and combine them in a logical sequence. This way, you can create complex trading strategies that consider multiple conditions before a trading signal is issued.
The MAD MBS L4 Processor x16 is a powerful component that can process up to 16 input signals simultaneously. It operates on the principle of logical linkage of conditions, allowing you to create detailed and precise trading strategies.
Key Features:
Example of Use:
Assume you want to implement a strategy that triggers a buy when:
The MAD MBS L5 RiskManagement is an additional module aimed at supporting your trading strategy with effective risk management. It ensures that your trading decisions are made not only based on signals but also by considering your risk profile.
Key Features:
Example of Use:
Now comes the exciting part: Implementing the strategy with our Wizard TradingTool. This server-based tool is specifically developed to ease your workload and efficiently implement the strategy. The Wizard TradingTool can be controlled via the Webhook alert function on TradingView, making the automation of your trading even simpler.
Setting up the Wizard TradingTool:
Subscription or NFT Lifetime Access: To use the Wizard TradingTool, you need to subscribe monthly (€149) or gain lifetime access via an NFT. Visit our website for more information and registration.
Webhook Integration: Use the Webhook alert function on TradingView to send signals directly to the Wizard TradingTool. This allows real-time execution of your automated trading strategies.
The MAD MBS processors and the L5 RiskManagement provide a flexible and powerful foundation for your automated trading strategy. By linking various indicator signals and implementing robust risk management, you can make precise and effective trading decisions.
With the Wizard TradingTool, implementing this strategy becomes even easier. This server-based tool allows you to seamlessly integrate the described processors and indicators and automate your strategy with just a few clicks.
Steps to Implementation:
By combining the MAD MBS processors with effective indicators and robust risk management, you can create a powerful and automated trading strategy. With the Wizard TradingTool, implementing and managing this strategy becomes a breeze.
Try it out and see how you can elevate your trading to a new level. Don’t forget to secure your subscription to the Wizard TradingTool and take full advantage of this powerful solution!
Happy Trading!
