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Exceeded Candle [Alorse] is a mean-reversion strategy that identifies candlestick engulfing patterns combined with Bollinger Bands filters. It enters a long position when a green candle surpasses the body of the previous red candle while price is below the mid
Strategy · Pine Script v5 · On the chart
BarUpDn Strategy
This strategy trades on the price chart from the current bar versus the prior close.
Repaints
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code9
Settings1inputs
LicenceMIT
Last update3 years ago10 Feb 2023
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
9 lines of Pine Script v5 from Strategies/All Strategies are Here 🤩/Bar-Up-Down-Strategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("BarUpDn Strategy", overlay=true, default_qty_type = strategy.percent_of_equity, default_qty_value = 10)
maxIdLossPcnt = input.float(1, "Max Intraday Loss(%)")
strategy.risk.max_intraday_loss(maxIdLossPcnt, strategy.percent_of_equity)
if (close > open and open > close[1])
strategy.entry("BarUp", strategy.long)
if (close < open and open < close[1])
strategy.entry("BarDn", strategy.short)
//plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Overview
BarUpDn Strategy enters long when the bar closes above its open and that open is above the previous close, and enters short when the bar closes below its open and that open is below the previous close. Each order uses ten percent of equity. A setting caps maximum intraday loss as a percent of equity. There are no take-profit or per-trade stop-loss exits, and the entry condition can change while the live bar is still forming.
- Long entry on a rising bar above the prior close
- Short entry on a falling bar below the prior close
- Position size of ten percent of equity
- Configurable maximum intraday loss limit
- Signals drawn on the price chart
Details
Published by
TWODS-CAPITAL on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- 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 |
|---|---|---|---|
| Max Intraday Loss(%) | float | 1 | maxIdLossPcnt |
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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