This Pine Script strategy identifies major and minor Leledec exhaustion bars by tracking consecutive price bar comparisons against past closes and checking local extremes over set lookback lengths.
A Strategy for Leledec overlays visual markers directly on the price chart for detected exhaustion points. Within a user-defined backtesting date range, the strategy enters long trades on major bullish exhaustion signals and short trades on minor bearish exhaustion signals. Inputs allow adjusting bar count qualifiers and lookback periods. The strategy does not include protective stop loss or take profit orders.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Major Leledec Exhausion Bar :: Show
bool
true
maj
Minor Leledec Exhausion Bar :: Show
bool
false
min
Major Leledec Exhausion Bar :: Source
source
close
leledcSrc
Major Leledec Exhausion Bar :: Bar count no
int
6
maj_qual
Major Leledec Exhausion Bar :: Highest / Lowest
int
30
maj_len
Minor Leledec Exhausion Bar :: Bar count no
int
5
min_qual
Minor Leledec Exhausion Bar :: Bar count no
int
5
min_len
bindexSindex
int
1
bindexSindex
Close
int
4
closeVal
From Month
int
1
fromMonth
From Day
int
1
fromDay
From Year
int
2018
fromYear
Show all 16 settings
Setting
Type
Default
Variable
Thru Month
int
12
thruMonth
Thru Day
int
1
thruDay
Thru Year
int
2030
thruYear
Show Date Range
bool
true
showDate
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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