This trend-following strategy executes a classic Donchian channel breakout system designed to cross-validate backtest results against external framework benchmarks. It triggers a long entry when the closing price breaks above the highest high of the prior entr
Strategy · Pine Script v6 · On the chart
Advanced Trade Metrics
Advanced Trade Metrics is an overlay breakout strategy that uses a 20-bar Donchian channel to generate trade signals.
GitHub stars1on the repository
Pine versionv6current
Lines of code37
Settings0inputs
LicenceApache-2.0
Last update7 days ago23 Oct 2026
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
37 lines of Pine Script v6 from validation/ta-closedtrades-risk-introspection-01/strategy.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is licensed under Apache-2.0
// SPDX-License-Identifier: Apache-2.0
// © PineForge contributors 2026
//
// PF probe 35 — strategy.closedtrades / strategy.risk introspection
// Purpose: parity test for `strategy.risk.max_drawdown(...)` plus
// `strategy.closedtrades` / `strategy.closedtrades.profit(N)` lookback driving
// per-trade qty sizing.
//
//@version=6
strategy("Advanced Trade Metrics", overlay=true, initial_capital=1000000, process_orders_on_close=false, pyramiding=1, commission_type=strategy.commission.percent, commission_value=0, slippage=0, default_qty_type=strategy.fixed, default_qty_value=1)
strategy.risk.max_drawdown(20, strategy.percent_of_equity)
// Basic Donchian breakout
hh = ta.highest(high, 20)
ll = ta.lowest(low, 20)
// Risk sizing based on past performance
qty = 1.0
if strategy.closedtrades > 0
last_profit = strategy.closedtrades.profit(strategy.closedtrades - 1)
if last_profit < 0
qty := 0.5
else
qty := 2.0
if close > hh[1]
strategy.entry("Long", strategy.long, qty=qty)
if close < ll[1]
strategy.entry("Short", strategy.short, qty=qty)
if strategy.opentrades > 0
open_dd = strategy.opentrades.max_drawdown(0)
if open_dd > 1000
strategy.close("Long")
strategy.close("Short")
Overview
Advanced Trade Metrics opens long positions when the closing price breaches the prior 20-bar high and short positions when it drops below the 20-bar low. Position sizing dynamically adjusts based on the outcome of the previous closed trade, scaling down after a loss and scaling up after a win. Exits trigger if open trade drawdown exceeds 1,000 units or if total equity drawdown hits the 20% risk limit. It lacks fixed stop-loss orders.
- 20-bar Donchian channel breakout system
- Dynamic performance-based position sizing
- Strategy-level maximum drawdown risk limit
- Open trade drawdown exit rule
Details
Published by
pineforge-4pass on GitHub
Code credit
PineForge contributors 2026, as written in the script's header
Type
Draws
On the price chart
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingparitypine-scriptpinescriptquantitative-financetest-corpustradingview
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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