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 v4 · On the chart
Alex Days HiLo Rajib
Alex Days HiLo Rajib tracks the highest high and lowest low over a customizable lookback period and overlays them directly on the price chart.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code16
Settings1inputs
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
16 lines of Pine Script v4 from Alex Days HiLo Rajib.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/
// © 14rajib
//@version=4
strategy(title="Alex Days HiLo Rajib", overlay = true)
length = input(20)
hh = highest(high, length)
ll = lowest(low, length)
plot(hh[1], color=color.green, title="HH")
plot(ll[1], color=color.red, title="LL")
//bgColour = (high > hh) ? color.blue :
// (low < ll) ? color.yellow :
// na
//bgcolor(color=bgColour, transp=90)
plotshape(high>hh[1] ? hh + 5:na, color=#FF0000,location=location.absolute, style=shape.arrowdown)
plotshape(low< ll[1] ? ll-5: na, color=#00FF00, location=location.absolute, style=shape.arrowup)
Expand (21 lines)
Overview
When the current high exceeds the previous highest level, the script displays a signal arrow, and another arrow appears when price breaks below the previous lowest level. The lookback length is adjustable to suit different market speeds. The script is configured as a strategy without predefined stop-loss or take-profit rules.
- Highest high and lowest low channel plotting
- Configurable lookback length setting
- Breakout marker shapes for high and low breaches
- Overlay visualization directly on price
Details
Published by
hasnocool on GitHub
Code credit
14rajib, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Breakout, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
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 | 20 | length |
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.
Similar Pine Scripts
This strategy plots running pivot highs as red R circles and pivot lows as blue S circles directly on the price chart. It computes an EMA 3 and a Cto trend line from close prices, then generates long signals on upward EMA-Cto crossovers combined with price pos
STRG-HOLP is a trading strategy that identifies High of Low Period (HOLP) and Low of High Period (LOHP) breakout setups. It tracks the lowest low or highest high over a user-defined lookback window. A long trade opens when the close breaks above the high of th
The Chained Linear Regression Reversal Strategy plots linear regression channels with upper and lower standard deviation bands directly on the price chart across a user-defined time window. When price breaks out of the static channel for a confirmed number of
This trend breakout strategy plots Donchian Channels consisting of upper, lower, and middle bands directly on the main price chart. Long positions enter when price touches the upper channel and pulls back to or below the middle band, placing a stop loss at the
This strategy trades SOL perpetual candles on the price chart. It tracks confirmed pivot highs and lows as support and resistance circles, then compares close with a smoothed filter and a three-period EMA to mark long and short conditions after the bar closes.
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers