It seems like all tradingviews strategies are useless (they repaint), i have talked with other users and they fell the same. Is there anyone that has another view/feedback? I would apreciate to hear
I think some strategies on Tradingview repaints because they take the latest bar to generate trading signals. If you change it to the bar prior to the latest bar, the repainting issue should be solved.
Tradex, this strategy for example. Looks amazing the backtest. When i try to trade, the last signal changes and dissapear out of nowhere.
Trader H.C., do you know any good strategy that doesn´t repaint on tradingview? I have tested a lot and found nothing
Yes, but I only use strategies created by myself, so I know exactly what it is doing. My advice is it's much better to understand the logic behind a strategy before trading it. So far, I've not seen a shared trading strategy on TradingView platform that is working properly (although I only tried a few from curiosity). The strategy you shared above repaints because they used multiple timeframes for generating trading signals. The contributor purposely turned on the look_ahead feature in TradingView, which uses future data to guide current bar trade decision that leads to repainting and unrealistic results. You can check out my youtube channel under the same name - "Trader H.C.". It's a new channel and I'm constantly updating my reviews on different trading strategies.
I looked at those prepackaged strategies and didn't see a real purpose for them. I would rather nack my own thing. And even with my own strats I don't necessarily follow them. I think my trading is more a set of tactical than strategic rules, TBH. Lately I haven't been trading the classic patterns, mostly following the trend and buying the dip, setting a stop and walking it up to lock in profit. My TradingView charts always have bollinger bands running at 9EMA with 2 std dev. I also have another indicator I made up, consisting of VWMA3 and VWMA6 with all space below VWMA3 tinted green, all space below VWMA6 tinted red. Where they overlap I get an olive color. Where red is showing and growing, time to sell. Where green is showing and growing, time to buy. At or just before the crossover, to maximize profits at a very slight risk increase. I look at the chart on at least two timeframes, usually 5min and 1min and I also consult the appropriate index because if the market is going to reverse, the stock's favorable trend is suspect. I also look at the stock with daily candles for the bigger picture. I like to see the one day chart showing a dip in a long term up trend. That tells me there is probably room for a significant price increase. If the day chart shows reversal potential, I don't trust the 5 minute chart even if the buy signal is strong there. And I will often then watch the 1min or 15sec chart to pick my entry at a green candle after bottoming out in a dip. A penny saved is a dollar earned, when you buy a hundred shares, right? Optimizing my entry has helped my P/L a lot. Now back to those prefab strategies, I like TradingView. I LOVE TradingView. But those strats to me are useless fluff unless maybe there is a shortcut to automating them, in which case meh, maybe they might be useful for churning out lots and lots of small profit trades. No good for me, because my account is under PDT minimum. I think they may sometimes be valuable EXAMPLES for a new trader wanting to build his own strats. What most prepackaged strategies have in common is they bring you late to the table. You don't want to follow. You want to lead. For instance, let's say you are using Bollinger Bands as your main indicator and you always buy when the candle close breaks above the mid-line while the line is trending up. Well, experience will show you that there is a very high probability that when it hits the bottom line, it will bounce up. Not a certainty, no, far from it. But a significant probability. So to improve profit at a slight risk increase, you might instead buy when it touches the bottom line while the indicated trend is up. This is anticipating favorable price move instead of reacting to it. Repaint or no repaint, the example strategy doesn't do that for you. It is reactive more than proactive. Just like a simple MA crossover or in my case a VWMA crossover strategy. If I always wait for the actual crossover for a signal, I am giving up a lot of profit making late entries and exits. If I look at the point where the unfavorable move is just reversing, i.e. when the red bulge is starting to shrink, I am increasing risk a bit but definitely optimizing potential profit by making an entry while the stock is still deep in the dip but beginning to rise out of it. One other point in favor of canned strategies, though... when you follow a set of rules rigidly and exactly instead of freestyling it, you are taking the human element out of the equation which for many traders is their downfall. So maybe better that, than nothing? Or better than roll-yer-own strategies? Not cut and dried. But IMHO and for me, those strategies suck even if they are well implemented on the charts. Bear in mind that this is only my second year of trading and I still haven't made my first $Billion yet. These opinions and advisements are gauranteed to be worth what you paid me for them, or your money back.
A lot of times, when folks say this, it's because the signal isn't 'set' until the current bar closes. A lot of times, you have to wait until the bar that generated the signal closes, before entering the trade. Or, you can enter once the signal first shows, then exit the trade if it disappears by the time the bar closes.
The problem with these smaller time frames is that they produce a LOT of false signals when you try to use them to time the entry.