This overlay strategy tracks the high and low of a user-defined London session and plots the previous session levels as support and resistance. It flags a break beyond a level when price closes past an ATR buffer, then waits a set number of bars for a retest w
Strategy · Pine Script v5 · On the chart
Archens Shares
Archens Shares is an intraday breakout strategy designed for session-based trading.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code21
Settings2inputs
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
21 lines of Pine Script v5 from ARCHENS SHARES.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// Copyright (c) 2019-present
//@version=5
strategy("ARCHENS SHARES", overlay=true)
timeframe = input.timeframe(defval = "30", title = "timeframe")
session = input.session(defval="0945-1015", title = "session")
tradein = time(timeframe, session)
half_high = request.security(syminfo.tickerid, "30", high)
half_low = request.security(syminfo.tickerid, "30", low)
HH = ta.valuewhen(tradein, half_high, 0 )
HL = ta.valuewhen(tradein, half_low, 0 )
buy = ta.crossover(close,HH)
sell = ta.crossunder(close,HL)
// Reset strategy at the start of each day
if dayofweek != dayofweek[1]
buy := false
sell := false
plot(HH, style=plot.style_circles, color = color.orange, linewidth = 2)
plot(HL, style=plot.style_circles, color = color.orange, linewidth = 2)
strategy.entry("long", direction = strategy.long, when = buy, comment = "ARCHENS BUY")
strategy.entry("short", direction = strategy.short, when = sell, comment = "ARCHENS SELL")
Expand (29 lines)
Overview
Archens Shares tracks the highest high and lowest low from a 30-minute timeframe during a specified session window, defaulting to 09:45 to 10:15. A long position is entered when the closing price crosses above the recorded session high, and a short position is entered when price crosses below the session low. The levels plot as orange circles on the chart. There are no stop-loss or take-profit rules, leaving position exits solely to reverse breakout signals.
- Session-based high and low level tracking
- Higher timeframe price request
- Breakout entry execution on price crosses
- Daily strategy reset logic
- Visual price level plots with circle styling
Details
Published by
hasnocool on GitHub
Code credit
//@version=5, as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Breakout, Sessions & time, Support & resistance
Markets
Stocks, Indices
Timeframes
M15-H1
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 |
|---|---|---|---|
| timeframe | timeframe | 30 | timeframe |
| session | session | 0945-1015 | session |
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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