MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy · Pine Script v5 · Own pane
8D Run
8D Run is a Pine Script momentum strategy inspired by Linda Bradford Raschke.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code25
Settings0inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
25 lines of Pine Script v5 from 8 Day Run - Momentum Strategy.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Marcuscor
//@version=5
// Inpsired by Linda Bradford Raschke: a strategy for trading momentum in futures markets
strategy("8D Run", initial_capital = 50000, commission_value = 0.0004)
SMA = ta.sma(close,5)
TrendUp = close >= SMA
TrendDown = close <= SMA
//logic to long
TriggerBuy = ta.barssince(close < SMA) >= 8
Buy = TriggerBuy[1] and TrendDown
strategy.entry("EL", strategy.long, when = Buy)
strategy.close(id = "EL", when = close > SMA)
// 1) color background when "run" begins and 2) change color when buy signal occurs
bgcolor(TriggerBuy? color.green : na, transp = 90)
bgcolor(Buy ? color.green : na, transp = 70)
// logic to short
TriggerSell = ta.barssince(close > SMA) >= 8
Sell = TriggerSell[1] and TrendUp
strategy.entry("ES", strategy.short, when = Sell)
strategy.close(id = "ES", when = close < SMA)
// 1) color background when "run" begins and 2) change color when sell signal occurs
bgcolor(TriggerSell ? color.red : na, transp = 90)
bgcolor(Sell ? color.red : na, transp = 70)
Expand (49 lines)
Overview
8D Run tracks consecutive price closes relative to a 5-period Simple Moving Average (SMA). When price remains above the SMA for 8 or more bars and then dips below it, the strategy enters a long position, exiting when price crosses back above the SMA. Conversely, after 8 bars below the SMA, a cross above triggers a short position. Chart background colors highlight active runs and trigger signals. It does not use fixed stop loss orders.
- Linda Bradford Raschke momentum trading concept
- 5-period SMA run detection logic
- Visual background coloring for active runs and signals
Details
Published by
hasnocool on GitHub
Code credit
Marcuscor, as written in the script's header
Type
Strategy, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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