PerpKit

Trend:

• Self-Tuning: Tunes to the timeframe you are currently on. No need to fiddle with numbers
• Absolute: If you want a clear interpretation of the trend without any fakeouts, absolute is your choice
• Model Optimal: Optimal trend settings for the best backtest performance
• Manual: Choose a manual length

Reversals:

• R1: Lowest risk and the safest play. With R1, you are trading with the trend
• R2: Medium risk but still trading with trend. R2 usually signifies reversals that are pullbacks deeper than R1 but still a viable option for traders wanting a higher risk play
• R3: Highest risk with the highest reward. Best to use in confluence with other signals. Counter-trend. No 'CR' with these reversals. A 'CR' can only follow 'R1' or 'R2' reversals

Strategy:

• Entry: Given by 'CR' (confirmed reversal). Once a reversal sign is in the clear, a 'CR' will be printed
• Exit: Given by 'X' (exit trade). Both the 'CR' and the 'X' are the trades that are backtested
• Stop Loss: You can also have the option to add a fixed stop loss, that depends on volatility
• CR Take Profit Speed: 'Slow' lets profits run longer but lags. 'Fast' exits quicker but often misses larger moves
• Backtester: Includes a live backtester with 14 metrics to assess performance
• Active Trade Panel: Provides the position size and open ROI of each open trade
• Position Size Mode: Choose between 'Volatility-adjusted' position sizes that depend on volatility and 'Full Position' sizes of 80% equity per trade
• Compounding: Decide what percentage of profits to reinvest
• Custom Backtest Range: Select if you want to only display trades between 2 custom dates

Additional Tools:

• Openings: You can display the Daily/Weekly/Monthly/Yearly Openings
• Sessions: Be able to display the London/NY/Asia Sessions. More suitable for LTF (30m or below)

Strategy:

1. Locate the trend. Usually given by a 'Longs' label for longs and 'Shorts' label for shorts. This system trades with the trend so this is important. You can also plot the trend in the settings 'Display Trend Oracle Plots'
2. Reversals with trend are given by R1/R2. Bullish R1/R2s are green/blue; bearish R1/R2s are purple/pink. R3 is a counter-trend reversal, which are not backtested
3. Wait for a confirmed reversal, 'CR' to print. This is where you enter the trade. Long entry is given by a green 'CR', short entry is given by a purple 'CR'. Wait for candle with 'CR' to close before entering
4. You can select the risk parameters in the settings for the stop loss, take profit speed, position size, compounding
5. You exit the trade at the 'X'. Wait for candle with 'X' to close before closing your position

To set up alerts:

1. Once you add the indicator to your chart, click on the 'Alert' symbol on the top TradingView Toolbar (looks like an alarm clock)
2. On the condition dropdown, select 'Eclipse PerpKit' and also select the actual signal in the dropdown beneath it
3. For the trigger, select 'Once per bar close'

The script contains 10 alerts:

• Long Reversal w/ Trend: The R1/R2 signals in the bullish direction
• Short Reversal w/ Trend: The R1/R2 signals in the bearish direction
• Long Reversal Against Trend: A bullish R3 reversal signal
• Short Reversal Against Trend: A bearish R3 reversal signal
• Confirmed Reversal Long: A bullish 'CR' reversal. Here, you enter the long
• Confirmed Reversal Short: A bearish 'CR' reversal. Here, you enter the short
• Confirmed Reversal Long Exit: Exit the long trade, given by the 'X'
• Confirmed Reversal Short Exit: Exit the short trade, given by the 'X'
• Trend Bullish: Trend is now bullish
• Trend Bearish: Trend is now bearish