This overlay strategy looks for gold scalps from break of structure and change of character. It enters long when a bullish break, a bullish character change, and an optional volume filter align, and short on the opposite set. Optional RSI levels can block trad
Strategy · Pine Script v4 · On the chart
ATR+EOM+Vortex Strat
This strategy combines ATR, Ease of Movement, and the Vortex indicator on the price chart.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code31
Settings4inputs
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
31 lines of Pine Script v4 from ATR with EOM and VORTEX.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/
// © SoftKill21
//@version=4
strategy("atr+eom+vortex strat", overlay=true,initial_capital = 1000, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent , commission_value=0.01 )
//atr and ema
atr_lenght=input(10)
atrvalue = atr(atr_lenght)
//plot(atrvalue)
ema_atr_length=input(5)
ema_atr = ema(atrvalue,ema_atr_length)
//plot(ema_atr,color=color.white)
//EOM and ema
lengthEOM = input(10, minval=1)
div = 10//input(10000, title="Divisor", minval=1)
eom = sma(div * change(hl2) * (high - low) / volume, lengthEOM)
// + - 0 long/short
//VORTEX
period_ = input(10, title="Length", minval=2)
VMP = sum( abs( high - low[1]), period_ )
VMM = sum( abs( low - high[1]), period_ )
STR = sum( atr(1), period_ )
VIP = VMP / STR
VIM = VMM / STR
avg_vortex=(VIP+VIM)/2
//plot(avg_vortex)
long= atrvalue > ema_atr and eom > 0 and avg_vortex>1
short=atrvalue < ema_atr and eom < 0 and avg_vortex<1
strategy.entry("long",1,when=long)
//strategy.entry("short",0,when=short)
strategy.close("long",when=short)
Expand (40 lines)
Overview
ATR+EOM+Vortex Strat enters long when ATR is above its EMA, Ease of Movement is positive, and the average of the Vortex lines is above one. It closes that long when ATR is below its EMA, Ease of Movement is negative, and the Vortex average is below one. Short entries are commented out. Length inputs change the ATR, EMA, Ease of Movement, and Vortex calculations. Orders use a percentage of equity, and there is no stop loss.
- ATR compared with its EMA
- Ease of Movement sign filter
- Average Vortex line filter
- Long entries with condition-based exits
- Percent-of-equity position sizing
Details
Published by
hasnocool on GitHub
Code credit
SoftKill21, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Oscillators & momentum, Volume
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 |
|---|---|---|---|
| atr_lenght | int | 10 | atr_lenght |
| ema_atr_length | int | 5 | ema_atr_length |
| lengthEOM | int | 10 | lengthEOM |
| Length | int | 10 | period_ |
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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