SPXL - Buy The Panic V9 strategy: backtest on crypto, and how the rule works

SPXL - Buy The Panic V9 at a glance

Kind of rule	A gauge with a line (momentum oscillator)
Buys or sells	It can buy, and it can bet on falling prices.
Built on	EMA, RSI
Where it was published	TradingView, by its author, as a Pine Script strategy
Tested on	43 cells: 13 coins, October 2021 to June 2026, no fee
Cells that placed a trade	6 of 43
Middle result before fees	+22.0%
Cells above zero	3 of 6
Middle drawdown before fees	59.7%
Page updated	2026-11-08

SPXL - Buy The Panic V9 backtest results, every cell

Every cell is in the picture, not only the strongest. To the right of the black line is above zero. The orange line, when you see one, is the middle.

Each bar is one cell. The black line is zero. Bars to the right finished above zero.

Each dot is one cell, lined up by chart speed. Dots to the right of the black line finished above zero. The orange line is the middle.

How SPXL - Buy The Panic V9 works

Rules in this group usually work like this. It reads a gauge such as RSI, a number that swings between low and high, and it acts when that gauge crosses a line the author chose. Those lines are the rule. Move the lines and the result can change. The next paragraph is this particular rule, which can be narrower than the group.

It can buy, and it can bet on falling prices. It acts only when several checks agree at once. It leans on EMA, RSI; those names are explained on their own pages, further down. The exact line is in the list below, in the author's names, and you can skip that list.

Each trade uses a fixed size of 1. It holds one trade at a time.

The exact condition, from the code

Same rule, translated from the code, in the author's names. You can skip this list if the paragraph above was enough.

Enters long when state equals 0 and (vix was panic or vix was extreme) and vix dropped and (bars since buy + 1) is at or above Cooldown Bars (20).
Enters long when state equals 1 and (vix was panic or vix was extreme) and vix dropped and (bars since buy + 1) is at or above Cooldown Bars (20) and not (current dd is below −Max DD Before Pause % (25)).
Enters long when state equals 2 and vix was extreme and vix dropped and (bars since buy + 1) is at or above Cooldown Bars (20) and not (current dd is below −Max DD Before Pause % (25)).
Enters long when state equals 4 and (vix was panic or vix was extreme) and vix dropped and (bars since buy + 1) is at or above Cooldown Bars (20) and (equity − (the position size × the close)) is above (the close × 5).

Buys or sells	It can buy, and it can bet on falling prices.
Tools it calculates	EMA, RSI
A second chart speed	Yes. It also looks at a second chart speed.
Only at certain hours	No.
Adding to a trade	It holds one trade at a time.
How much it trades	Each trade uses a fixed size of 1.
Cost the author assumed	The author assumed a trading cost of 0.05 percent per side.

Default settings

The test used the defaults in the middle column. Nothing was turned to help a coin.

Setting	Default	Group
VIX Symbol	VIX	VIX
VIX Panic Buy Level	25	VIX
VIX Extreme Buy Level	32	VIX
VIX Euphoria Sell Level	16	VIX
VIX Peak Lookback	5	VIX
VIX Drop From Peak %	8	VIX
RSI Overbought Sell	65	Sell
Price Above EMA200 %	1.08	Sell
Cooldown Bars	20	Settings
Max DD Before Pause %	25	Risk
Euphoria Confirm Bars	3	Sell

How the backtest was run

Every strategy was tried the same way, on the settings the author published.

The years are October 2021 to June 2026. The prices are from Bybit, for 13 widely traded coins, mostly on hourly, 4-hour and daily charts, with some faster charts. That was 47,242 tries. The window stored in the files is 2021-09..2026-06.

599 rules produced a finished try. A rule that finished above zero on at least 12 cells, before any fee, was tried again with a fee of 0.12 percent per side. Only buys are counted in that second try. 273 rules got it.

The method, the aggregate results and a downloadable table are on the study page. What the desk does with the results beyond these pages is its own.

Before any fee, it was tried on 43 cells. It placed a trade on 6 of them. 3 of the cells that traded finished above zero (50.0%).

It was not run a second time with a fee. That second pass happens only when at least 12 cells finished above zero before fees. 273 rules got that pass.

Before fees, it sat 9th on a list sorted by average Sharpe. That list charges no fee.

Cells tried	43
Cells that placed a trade	6
Finished above zero	3 (50.0% of the cells that traded)
Middle result, before fees	+22.0%
Strongest cell, the top of the range	TRX daily: +188.2%
Weakest cell, the bottom of the range	LTC daily: −34.8%
Middle drawdown, before fees	59.7%

Label: backtest · old prices, zero commission · Oct 2021 – Jun 2026. Hypothetical results; see the risk disclosure.

How to read the result

How to read the number

The median of every cell that traded is the result. No fee has been taken off, so the number is a ceiling. A fee comes off each trade, and this page does not guess that cost, because this rule did not get the second pass where the fee is applied. The weakest and the strongest cells are not a result on their own.

The middle drawdown, on the cells that traded, was 59.7%.

What this does not show

The useful question is what happens if the author's lines are moved a little. If the result changes a lot, the result is the lines.

Nothing on this page was fit to the cell that finished highest. One coin, one chart speed, or one strong stretch is a single row. It is not the rule. Other years, another exchange, or another fee would be a different measurement.

Questions about SPXL - Buy The Panic V9

What is SPXL - Buy The Panic V9?

SPXL - Buy The Panic V9 is a momentum oscillator trading strategy published on TradingView as a Pine Script. In plain terms it is a rule of the kind this site calls a gauge with a line. It can buy, and it can bet on falling prices. It is built on EMA, RSI. This page reads the rules from the code and reports what they did on old crypto prices.

How does SPXL - Buy The Panic V9 work?

Is SPXL - Buy The Panic V9 profitable in a backtest?

Before any fee, 3 of 6 cells that traded finished above zero, and the median of those cells was +22.0%. No fee has been taken off, so that number is a ceiling. The rule did not reach the second pass where a fee is charged on every trade.

Where can I find the SPXL - Buy The Panic V9 script?

It is published on TradingView by its author. Search TradingView for the title to find the original script. This page is an independent reading and is not affiliated with the author.

What does backtest mean on this page?

Backtest means the rule was replayed on old prices from Bybit. No real money moved. Every number on this page carries that label, and old prices do not promise anything about new ones.

Words used on this page

Backtest: The rule was tried on old prices. No real money moved.
Cell: One coin on one chart speed. Bitcoin every 4 hours is one cell. Bitcoin once a day is another.
Chart speed: How often a new price bar is drawn. 15m means every 15 minutes, 1h means hourly, 4h means every 4 hours, 1D means once a day.
Fee, per side: A cost taken each time the rule trades. Per side means once on the way in and once on the way out.
Median: Line the cells up from the biggest loss to the biggest gain. The median is the middle one. Half the cells did better and half did worse.
Drawdown: The deepest fall from a high point along the way, as a percent of the account at that high.
Above zero: The account finished with more than it started.

The indicators SPXL - Buy The Panic V9 uses

Each has its own page: what it measures, how it is read, where it misleads.

"SPXL - Buy The Panic V9" was published on TradingView by its author, under the author's own license. This page is an independent reading of those rules and of what they did on these old prices. It is not written with the author, and it is not a recommendation. Not every detail survives the translation onto this page, so read the original before you rely on it.

SPXL - Buy The Panic V9