Macro Score - TSI-Based

To deploy the "Macro Score - TSI-Based" strategy on TradingView, first open your desired chart. On the top toolbar, click 'Indicators & Strategies', type 'Macro Score - TSI-Based' and add it to your chart.

• Explore the 'Input' tab to familiarize yourself with the parameters, such as TSI signals and thresholds for DPO, Jurik Volatility Bands, and Stoch RSI.
• Adjust 'TT and TTP' and 'Stop Loss' settings under the same tab to align with your preferred take profit, stop loss, and trailing percentages.
• Optimize parameters by backtesting on different symbols/markets to gauge performance across asset classes. Change one variable at a time to understand its impact.

For real trading, you can automate the strategy using Profitview or set alerts for manual execution:

• In 'Profitview Settings', input appropriate titles like 'SOL LONG' to match your trading script with the Profitview automation system.
• For manual trading, use the 'Alerts' tab to create an alert with the strategy conditions and your asset/timeframe.
• Ensure alerts are set with {{strategy.order.alert_message}} for accuracy and that the expiration of alerts aligns with your trading schedule.

Remember to diligently backtest the "Macro Score - TSI-Based" strategy, observing its behavior in different market conditions and timeframes. Scrutinize the risk/reward ratio to attain an optimal balance tailored to your trading style and risk tolerance.

Improving the "Macro Score - TSI-Based" strategy for manual trading involves refining its parameters, aligning it with broader market analysis, and incorporating additional risk management techniques. Here are suggested steps to enhance the effectiveness of the strategy:

• Parameter Optimization: Adjust the weights assigned to various signals within the strategy's macro score calculation. Through trial and error, identify the optimal configuration that resonates with historical price movements. Consider using a lower timeframe for more granular signals or a higher timeframe for broader trends.
• Market Context: Before applying the strategy, assess the overall market sentiment and macroeconomic events. Incorporate fundamental analysis to ensure that the trade direction is consistent with the prevailing economic conditions.
• Confluence with Other Indicators: Use additional indicators for confluence, such as Moving Averages or Fibonacci retracements, to confirm entry and exit signals generated by the macro score. This multilayered approach helps in filtering false positives.
• Volume Analysis: Incorporate volume analysis to validate the strength behind the signals. A crossover or threshold breach accompanied by high volume can indicate stronger conviction in the price move.
• Trade Journaling: Maintain a journal of all trades taken using the strategy. Take note of the macro score at the point of entry and exit, market conditions, and eventual outcome. Reviewing trade history regularly can highlight patterns for refinement.
• Risk Management: Fine-tune the risk per trade by assessing the volatility of the instrument being traded. Employ a variable stop loss strategy that accounts for the average true range (ATR) or volatility index (VIX) readings to adaptively manage risk.
• Advanced Order Types: Utilize advanced order types such as OCO (One Cancels Other) for entries and exits to auto-manage positions once initiated. Setting automatic take profit and stop loss orders at predefined ratios based on the macro score thresholds can enhance discipline.

Through these improvements, a manual trader can elevate the "Macro Score - TSI-Based" strategy beyond its preset conditions to tailor trades according to personal trading style, risk appetite, and an in-depth understanding of price action and market dynamics.

This strategy is tailored for traders who prefer a systematic, quantitative approach to the markets. It's particularly suitable for:

• Technical Traders: Those who rely on technical analysis and prefer using indicators like TSI, DPO, and Stoch RSI to guide their trading decisions.
• Swing Traders: Given the indicators involved and the potential for a range of signals, this strategy aligns well with traders looking for mid-term holding periods, to capitalize on trends.
• Day Traders: Although primarily designed for swing trading, day traders may customize the strategy's parameters for shorter time frames, adapting to the pace of intraday movements.
• Statistical Traders: The quantitative nature of creating a macro score appeals to traders who favor statistical methods and backtesting to validate their strategies.

It is best matched with a trading style that values a blend of pre-defined technical signals and probabilistic scoring over discretionary decision-making.

• Strategy Essence: It synthesizes multiple indicators into a unified macro score to generate trading signals.
• Indicator Weights: Predominantly uses TSI signals, with supplementary input from DPO, Volatility Bands, and Stoch RSI.
• Signal Visualization: Macro score visualized as a white line and trade signals from macro score and momentum line crossovers.
• Usage Methodology: Can be used with automation tools like Profitview, set up with alerts, or through manual execution.
• Parameter Adjustment: Optimize by adjusting the weight of signals, incorporate other technical confluences, and evaluate against market context.
• Risk Control: Customize take profit, stop loss, and trailing stops, accounting for volatility and personal risk tolerance.
• Strategy Suitability: Ideal for technical, swing, and statistical traders, adaptable by day traders through parameter refinement.
• Trading Style Compatibility: Complements a trading style prioritizing systematic signals and probabilistic scoring.
• Enhancement Tactics: Improve manually with volume analysis, trade journaling, and advanced order types to manage positions.