04/13/2023 |
TrendSpider Software Update: Sharable Strategies
Hello, traders, and welcome to another TrendSpider software update! In this update, we’re excited to announce that you can now share full strategies directly from your Strategy Tester. Details after the jump!
If you’ve been a TrendSpider user for any time, you’re likely familiar with the functionality that allows you to share scanners and watchlists with other users. With this announcement, we’ve expanded that functionality to our Strategy Tester and you can now share your favorite strategies! Here’s how it works.
How To Share Strategies
In order to share a strategy, you must first load it into your Strategy Tester. To do this, select it from the saved strategies list on the left-hand side of the Strategy Tester pictured below.
Once selected, click on the small icon with three vertical dots next to the ‘Save’ button in the top right-hand corner of the strategy tester. There, you’ll find the ability to clone, share or remove the strategy.
When you click ‘Share this strategy’, a box will appear that will allow you to define who can access the strategy.
Once a selection has been made, click the ‘Share’ button and the Strategy Tester will run. Once completed, a new pop-up will appear that contains a shareable link that can be shared with any other TrendSpider user.
Subscribing To A Shared Strategy
When a user receives an invitation to subscribe to a shared strategy and clicks on the provided link, they will see a special preview page that tells them what’s shared and gives a preview of the content. The preview will contain pertinent information about the strategy, including data like ‘Performance Percentage’, ‘Reward-To-Risk Ratio’, ‘Drawdown Percentage’ and more.
In order to subscribe, simply click the green ‘Login & Import’ button towards the top of the preview page pictured above. In doing so, you’ll be redirected to the TrendSpider application with a confirmation request. By agreeing, you’ll become a subscriber and will then be able to see the corresponding strategy appear within the Shared Strategies list.
Sample Strategies For You To Try
This is a very simple, yet effective volume-based strategy that appears to work quite well on the 15-minute time frame on AAPL. This strategy looks for a 3x average volume candle that’s trading below the 8-EMA. The volume suggests that a potential bottom is in and a reversal is imminent. The strategy utilizes a Stop Loss, a Take Profit, and a Trailing Stop Loss as its exit criteria.
In the below image, you can see the performance of the strategy (in blue) relative to the performance of the asset over the same period of time. Try it on your favorite tickers and see if you can find any others that work well!
This strategy is a bit more advanced and looks for a series of conditions to be true before entering into a trade. Namely, that the 21-EMA has closed above the 50-SMA for the past five candles, that the low of the past 10 candles has never dropped below the 21-EMA, and that the 50-SMA is increasing. This strategy also uses a Stop Loss, Take Profit, and Trailing Stop for its exit criteria.In the below image, you can see the performance of the strategy (in blue) relative to the performance of the asset. Though it lagged behind the underlying for several years, the strategy began to outperform around October of 2022 and the asset has yet to catch up!
Things To Remember
- As a subscriber, it is not possible to edit the parameters contained within a strategy without first making your own copy.
- If the owner of the strategy updates the item, all of the subscribers will receive the update in real time.
- You can unsubscribe to a strategy at any time.
- If an owner revokes access or removes the strategy entirely, then subscribers of that strategy will immediately lose access to it.
As always, we hope you find this update helpful! If you have any questions, feel free to reach out to us via the ‘Contact Us’ button in the bottom right-hand corner of your chart view.
