200DMA Entry

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © jfgrissom

//@version=5
strategy("200DMA Entry", overlay=true, initial_capital=10000)

// Define the 200-day moving average
ma200 = ta.sma(close, 200)

// Enter a trade when the previous bar closes above the 200 MA
longCondition = ta.crossover(close[1], ma200)

// Set the take profit level at 150% ROI
takeProfitLevel = strategy.position_avg_price * 2.5

// Variables to store the bar index and price of entry and exit
var float entryPrice = na
var int entryBarIndex = na
var float orderSize = na

// Enter long position using 1% of the total account equity
if (longCondition)
    orderSize := 0.01 * strategy.equity / close
    strategy.entry("Long", strategy.long, qty=orderSize)
    entryPrice := close
    entryBarIndex := bar_index

// Exit position when price reaches the take profit level
if (strategy.position_size > 0 and close >= takeProfitLevel)
    strategy.close("Long")
    line.new(x1=entryBarIndex, y1=entryPrice, x2=bar_index, y2=close, color=color.red)

// Plot the 200 MA on the chart
plot(ma200, title="200-day MA", color=color.blue)

// Function to format equity to two decimal places
formatEquity(equity) =>
    str.tostring(equity, "#.00")

// Create a label to display equity in the top right corner in bright green
var label equityLabelTopRight = na
if (na(equityLabelTopRight))
    equityLabelTopRight := label.new(x=bar_index, y=na, text="", xloc=xloc.bar_index, yloc=yloc.abovebar, color=color.new(color.black, 0), textcolor=color.green, style=label.style_label_down)

label.set_xy(equityLabelTopRight, bar_index + 1, high * 1.05)
label.set_text(equityLabelTopRight, "Equity: $" + formatEquity(strategy.equity))

// Display order size on the chart
var label orderSizeLabel = na
if (na(orderSizeLabel))
    orderSizeLabel := label.new(x=bar_index, y=na, text="", xloc=xloc.bar_index, yloc=yloc.abovebar, color=color.new(color.black, 0), textcolor=color.white, style=label.style_label_down)

if (not na(orderSize))
    label.set_xy(orderSizeLabel, bar_index + 1, high * 0.95)
    label.set_text(orderSizeLabel, "Order Size: " + str.tostring(orderSize, "#.000"))