Improvising [Alorse] is a price-chart strategy that looks for a one-bar candle reversal filtered by a 10-period EMA, a 14-period RSI, and a rising or falling MACD. Longs require a bearish bar followed by a bullish close above the EMA, RSI below 65, and a risin
Strategy · Pine Script v4 · On the chart
Advanced OutSide Forex strategy
This strategy enters long on an outside bar when the candle is bullish, the Klinger Volume Oscillator is positive, and price is above a Hull moving average.
Repaints
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code23
Settings6inputs
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
23 lines of Pine Script v4 from Advanced OutSide with HMA and Klinger Forex Swing 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/
// © exlux99
//@version=4
strategy("Advanced OutSide Forex strategy", overlay = true, default_qty_type = strategy.percent_of_equity, default_qty_value = 100, calc_on_every_tick = true, commission_type = strategy.commission.percent, commission_value = 0.0)
sv = change(hlc3) >= 0 ? volume : -volume
kvo = ema(sv, 34) - ema(sv, 55)
sig = ema(kvo, 13)
length = input(title="Length", type=input.integer, defval=27)
src = input(close, title="Source")
lsma = hma(src, length)
if (high > high[1] and low < low[1])
if (close > open and kvo>0 and lsma<close)
strategy.entry("long", strategy.long, comment="long")
if (high < high[1] and low > low[1])
if (close < open and kvo<0 and lsma>close)
strategy.entry("short", strategy.short, comment="short")
tplong=input(0.006, step=0.001, title="Take profit % for long")
sllong=input(0.012, step=0.001, title="Stop loss % for long")
tpshort=input(0.0075, step=0.001, title="Take profit % for short")
slshort=input(0.015, step=0.001, title="Stop loss % for short")
strategy.exit("short_tp/sl", "long", profit=close * tplong / syminfo.mintick, loss=close * sllong / syminfo.mintick, comment='LONG EXIT', alert_message = 'closeshort')
strategy.exit("short_tp/sl", "short", profit=close * tpshort / syminfo.mintick, loss=close * slshort / syminfo.mintick, comment='SHORT EXIT', alert_message = 'closeshort')
Expand (30 lines)
Overview
Advanced OutSide Forex strategy enters short on an inside bar when the candle is bearish, the oscillator is negative, and price is below that average. Exits use separate percentage take-profit and stop-loss levels for long and short trades, with position size set to full equity. Length, source, and those exit percentages are adjustable. It draws on the price chart and can change signals on the live bar because it calculates on every tick.
- Klinger Volume Oscillator filter
- Hull moving average filter
- Outside and inside bar entries
- Separate long and short take-profit and stop-loss percentages
- Full equity position sizing
Details
Published by
hasnocool on GitHub
Code credit
exlux99, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Moving averages, Volume, Candlestick patterns
Markets
Forex
Timeframes
H4 and above
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 27 | length |
| Source | source | close | src |
| Take profit % for long | float | 0.006 | tplong |
| Stop loss % for long | float | 0.012 | sllong |
| Take profit % for short | float | 0.0075 | tpshort |
| Stop loss % for short | float | 0.015 | slshort |
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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