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
BarUpDn Strategy
The BarUpDn Strategy triggers trades based on candle price direction relative to a past bar.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code17
Settings6inputs
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
17 lines of Pine Script v4 from BarUpDn Strategy.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy("BarUpDn Strategy", overlay=true, initial_capital = 10000, default_qty_value = 10000, default_qty_type = strategy.cash)
BarsUp = input(1)
BarsDown = input(1)
// Strategy Backesting
startDate = input(timestamp("2021-01-01T00:00:00"), type = input.time)
finishDate = input(timestamp("2021-12-31T00:00:00"), type = input.time)
time_cond = time >= startDate and time <= finishDate
// Messages for buy and sell
message_buy = input("{{strategy.order.alert_message}}", title="Buy message")
message_sell = input("{{strategy.order.alert_message}}", title="Sell message")
if (close > open and open > close[BarsUp]) and time_cond
strategy.entry("BarUp", strategy.long, stop = high + syminfo.mintick, alert_message = message_buy)
if (close < open and open < close[BarsDown]) and time_cond
strategy.entry("BarDn", strategy.short, stop = low + syminfo.mintick, alert_message = message_sell)
//plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Expand (21 lines)
Overview
BarUpDn Strategy enters a long position with a stop order above the high when the current candle closes above its open and its open is higher than the close of a specified lookback bar. Conversely, it enters short when the candle closes below its open and its open is below the lookback close. Drawn directly on the main chart, key settings include the lookback periods and backtesting date range filters. The strategy lacks built-in stop loss or take profit orders.
- Bar direction breakout entry logic
- Configurable lookback bar periods
- Date range filter for backtesting
- Custom alert message parameters
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Candlestick patterns, Breakout, Trend
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 |
|---|---|---|---|
| BarsUp | int | 1 | BarsUp |
| BarsDown | int | 1 | BarsDown |
| startDate | time | timestamp("2021-01-01T00:00:00") | startDate |
| finishDate | time | timestamp("2021-12-31T00:00:00") | finishDate |
| Buy message | string | {{strategy.order.alert_message}} | message_buy |
| Sell message | string | {{strategy.order.alert_message}} | message_sell |
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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