This strategy captures strong bullish momentum by combining a 200-period SMA baseline, a custom Bollinger Band, the True Strength Index (TSI) smoothed with WMAs, and the ADX trend strength indicator. It initiates long positions when price is above the 200 SMA,
Strategy · Pine Script v4 · Own pane
AwesomeADX
AwesomeADX is a Pine Script v4 strategy that combines an Awesome Oscillator, ADX directional movement, and Bollinger percent B with an optional four-length moving-average trend filter.
GitHub stars12on the repository
Pine versionv4older, still runs
Lines of code229
Settings19inputs
LicenceMIT
Last update5 years ago30 Jul 2021
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
229 lines of Pine Script v4 from [STRAT]AwesomeADX.pine, published under MIT. 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/
// © kaushal
// Strategy By TradePro
// https://www.youtube.com/watch?v=cKuTSFwUpPE&ab_channel=TradePro
//@version=4
SystemName = "AwesomeADX"
is_overlay = true
InitCapital = 1000
InitPosition = 100
InitCommission = 0
CalcOnorderFills = false
strategy(title=SystemName, shorttitle=SystemName,
initial_capital=InitCapital, default_qty_type=strategy.percent_of_equity,
default_qty_value=InitPosition,commission_type=strategy.commission.percent, commission_value=InitCommission, calc_on_order_fills=CalcOnorderFills,
precision=6, max_lines_count=500, max_labels_count=500, overlay=is_overlay, max_bars_back=20)
DateFilter = input(false, "═════════════ Backtest Date Range Filtering", group="Date")
i_startTime = input(defval = timestamp("01 Jun 2021 00:00 +0000"), title = "Start Time", type = input.time, group="Date")
i_endTime = input(defval = timestamp("30 Dec 2021 23:30 +0000"), title = "End Time", type = input.time, group="Date")
TradeDateIsAllowed() => DateFilter ? time >= i_startTime and time <= i_endTime : true
//Filter Parameter
section1 = input(false, "═════════ Filter Parameter ════════")
use_mafilt = input(true, title="Use MA Filter")
mafilt_type = input("EMA", title="MA Filter Type", options = ["EMA","SMA","WMA","RMA","VWMA"])
mafilt_len_1 = input(5, title="EMA 01")
mafilt_len_2 = input(21, title="EMA 02")
mafilt_len_3 = input(50, title="EMA 03")
mafilt_len_4 = input(100, title="EMA 04")
//Indicator Parameter
section2 = input(false, "═════════ Signal Parameter ════════")
src = input(close, title="Source", type=input.source)
//************************************************//
// Main Indicator Function
//************************************************//
//Filter Indicator Calculation --> MA
get_MA(typ, len) =>
float maVal = na
if (typ == "EMA")
maVal := ema(src, len)
if (typ == "SMA")
maVal := sma(src, len)
if (typ == "WMA")
maVal := wma(src, len)
if (typ == "RMA")
maVal := rma(src, len)
if (typ == "VWMA")
maVal := vwma(src, len)
maVal
MAfilt_01 = get_MA(mafilt_type, mafilt_len_1)
MAfilt_02 = get_MA(mafilt_type, mafilt_len_2)
MAfilt_03 = get_MA(mafilt_type, mafilt_len_3)
MAfilt_04 = get_MA(mafilt_type, mafilt_len_4)
// ADX
adxlen = input(14, title="ADX Smoothing", group="ADX")
dilen = input(14, title="DI Length", group="ADX")
dirmov(len) =>
up = change(high)
down = -change(low)
plusDM = na(up) ? na : (up > down and up > 0 ? up : 0)
minusDM = na(down) ? na : (down > up and down > 0 ? down : 0)
truerange = rma(tr, len)
plus = fixnan(100 * rma(plusDM, len) / truerange)
minus = fixnan(100 * rma(minusDM, len) / truerange)
[plus, minus]
adx(dilen, adxlen) =>
[plus, minus] = dirmov(dilen)
sum = plus + minus
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)
sig = adx(dilen, adxlen)
// BB %
length = input(20, minval=1, group="BB%")
mult = input(2.0, minval=0.001, maxval=50, title="StdDev", group="BB%")
basis = sma(src, length)
dev = mult * stdev(src, length)
upper = basis + dev
lower = basis - dev
bbr = (src - lower)/(upper - lower)
// Awesome oscillator
ao = sma(hl2,5) - sma(hl2,34)
Uptrend = false
Dntrend = false
if(((use_mafilt==true and MAfilt_01 > MAfilt_02 and MAfilt_03 > MAfilt_04) or use_mafilt==false))
Uptrend := true
if(((use_mafilt==true and MAfilt_01 < MAfilt_02 and MAfilt_03 < MAfilt_04) or use_mafilt==false))
Dntrend := true
BuySignal = (sig > 15 and bbr > 0.75 and ao > 2)
SellSignal = (sig > 15 and bbr < 0.25 and ao < -2)
//****************************************************************************************************************************************************************************************//
// Backtest Section
//****************************************************************************************************************************************************************************************//
BTsection = input(false, "═════════ Backtest Parameter ════════")
SL_Fixed_Perc = input(2, title="Stop Loss Fixed Percentage", minval=0.1, step=0.1)
reward_ratio = input(0.5, title="TP Reward to Risk Ratio", minval=0.1, step=0.1)
//************************************************//
int open_pos = 0
int long_pos = 0
int short_pos = 0
float _EntryPrice = na
float _StopLoss = na
float _TakeProfit = na
float _EP = na
float _SL = na
float _TP = na
open_pos := (open_pos [1] == 1) ? 1 : 0
long_pos := (long_pos [1] == 1) ? 1 : 0
short_pos := (short_pos[1] == 1) ? 1 : 0
_EP := (open_pos[1] == 1) ? _EP[1] : na
_SL := (open_pos[1] == 1) ? _SL[1] : na
_TP := (open_pos[1] == 1) ? _TP[1] : na
//************************************************//
// Stoploss Function
//************************************************//
get_SL(_entry,_signal)=>
ret_sl = 0.0
if(_signal=="Buy")
ret_sl := _entry - (_entry * (SL_Fixed_Perc/100))
if(_signal=="Sell")
ret_sl := _entry + (_entry * (SL_Fixed_Perc/100))
ret_sl
//************************************************//
// Generate Entry/Exit Level
//************************************************//
//Buy
if(Uptrend and BuySignal)
_EntryPrice := close
_StopLoss := get_SL(_EntryPrice,"Buy")
_TakeProfit := (_EntryPrice + ((_EntryPrice - _StopLoss)*reward_ratio))
//Sell
if(Dntrend and SellSignal)
_EntryPrice := close
_StopLoss := get_SL(_EntryPrice,"Sell")
_TakeProfit := (_EntryPrice - ((_StopLoss - _EntryPrice)*reward_ratio))
//************************************************//
// Trade Entry Function
//************************************************//
//Buy
if(open_pos == 0 and Uptrend and BuySignal and TradeDateIsAllowed())
long_pos := 1
open_pos := 1
_EP := _EntryPrice
_SL := _StopLoss
_TP := _TakeProfit
strategy.entry("Long", strategy.long)
//Sell
if(open_pos == 0 and Dntrend and SellSignal and TradeDateIsAllowed())
short_pos := 1
open_pos := 1
_EP := _EntryPrice
_SL := _StopLoss
_TP := _TakeProfit
strategy.entry("Short", strategy.short)
//************************************************//
// Exit Function
//************************************************//
bool long_Profit_Label = false
bool short_Profit_Label = false
bool long_Loss_Label = false
bool short_Loss_Label = false
//Exit Long Condition
if (long_pos[0] == 1 and low <= _SL)
long_pos := 0
open_pos := 0
long_Loss_Label := true
strategy.close(id="Long", comment="sl", when=_SL)
if (long_pos[0] == 1 and high >= _TP)
long_pos := 0
open_pos := 0
long_Profit_Label := true
strategy.close(id="Long", comment="tp", when=_TP)
if (short_pos[0] == 1 and high >= _SL)
short_pos := 0
open_pos := 0
short_Loss_Label := true
strategy.close(id="Short", comment="sl", when=_SL)
if (short_pos[0] == 1 and low <= _TP)
short_pos := 0
open_pos := 0
short_Profit_Label := true
strategy.close(id="Short", comment="tp", when=_TP)
Overview
AwesomeADX sizes each position as a percentage of equity and can limit trades to a chosen backtest date range. Moving-average type and lengths, ADX smoothing, DI length, Bollinger length and deviation, and inputs for a fixed-percentage stop and reward-to-risk target are the main settings. Overlay is enabled, so it draws on the price chart. No stop loss is applied by default.
- Four-length moving average filter
- ADX and directional movement
- Bollinger percent B
- Awesome Oscillator
- Optional backtest date range
Details
Published by
koradiyakaushal on GitHub
Code credit
kaushal, as written in the script's header
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ═════════════ Backtest Date Range Filtering | bool | false | DateFilter |
| Start Time | time | timestamp("01 Jun 2021 00:00 +0000") | i_startTime |
| End Time | time | timestamp("30 Dec 2021 23:30 +0000") | i_endTime |
| ═════════ Filter Parameter ════════ | bool | false | section1 |
| Use MA Filter | bool | true | use_mafilt |
| MA Filter Type | string | EMA | mafilt_type |
| EMA 01 | int | 5 | mafilt_len_1 |
| EMA 02 | int | 21 | mafilt_len_2 |
| EMA 03 | int | 50 | mafilt_len_3 |
| EMA 04 | int | 100 | mafilt_len_4 |
| ═════════ Signal Parameter ════════ | bool | false | section2 |
| Source | source | close | src |
Show all 19 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| ADX Smoothing | int | 14 | adxlen |
| DI Length | int | 14 | dilen |
| length | int | 20 | length |
| StdDev | float | 2.0 | mult |
| ═════════ Backtest Parameter ════════ | bool | false | BTsection |
| Stop Loss Fixed Percentage | int | 2 | SL_Fixed_Perc |
| TP Reward to Risk Ratio | float | 0.5 | reward_ratio |
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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