Strategy · Pine Script v5 · On the chart

Best TradingView Strategy

by hasnocool· code credited to The_Bigger_Bull

This overlay strategy plots a short Bollinger Band and enters long when the close crosses above the lower band while a 14-period SMA is above a 42-period SMA.

View on GitHub

GitHub stars106on the repository
Pine versionv5runs as is
Lines of code87
Settings9inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 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

87 lines of Pine Script v5 from Best TradingView Strategy - For NASDAQ and DOW30 and other Index.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

Best TradingView Strategy - For NASDAQ and DOW30 and other Index.pine
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © The_Bigger_Bull
//@version=5
strategy("Best TradingView Strategy", overlay=true, margin_long=0, margin_short=0)
//Bollinger Bands
source1 = close
length1 = input.int(9, minval=1)
mult1 = input.float(2.0, minval=0.001, maxval=50)
basis1 = ta.sma(source1, length1)
dev1 = mult1 * ta.stdev(source1, length1)
upper1 = basis1 + dev1
lower1 = basis1 - dev1
//buyEntry = ta.crossover(source1, lower1)
//sellEntry = ta.crossunder(source1, upper1)
//RSI
ma(source, length, type) =>
    switch type
        "SMA" => ta.sma(source, length)
        "Bollinger Bands" => ta.sma(source, length)
        "EMA" => ta.ema(source, length)
        "SMMA (RMA)" => ta.rma(source, length)
        "WMA" => ta.wma(source, length)
        "VWMA" => ta.vwma(source, length)
rsiLengthInput = input.int(14, minval=1, title="RSI Length", group="RSI Settings")
rsiSourceInput = input.source(close, "Source", group="RSI Settings")
maTypeInput = input.string("SMA", title="MA Type", options=["SMA", "Bollinger Bands", "EMA", "SMMA (RMA)", "WMA", "VWMA"], group="MA Settings")
maLengthInput = input.int(14, title="MA Length", group="MA Settings")
bbMultInput = input.float(2.0, minval=0.001, maxval=50, title="BB StdDev", group="MA Settings")
up = ta.rma(math.max(ta.change(rsiSourceInput), 0), rsiLengthInput)
down = ta.rma(-math.min(ta.change(rsiSourceInput), 0), rsiLengthInput)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
rsiMA = ma(rsi, maLengthInput, maTypeInput)
isBB = maTypeInput == "Bollinger Bands"
//plot(rsi, "RSI", color=#7E57C2)
//plot(rsiMA, "RSI-based MA", color=color.yellow)
rsiUpperBand = hline(70, "RSI Upper Band", color=#787B86)
hline(50, "RSI Middle Band", color=color.new(#787B86, 50))
rsiLowerBand = hline(30, "RSI Lower Band", color=#787B86)
fill(rsiUpperBand, rsiLowerBand, color=color.rgb(126, 87, 194, 90), title="RSI Background Fill")
bbUpperBand = plot(isBB ? rsiMA + ta.stdev(rsi, maLengthInput) * bbMultInput : na, title = "Upper Bollinger Band", color=color.green)
bbLowerBand = plot(isBB ? rsiMA - ta.stdev(rsi, maLengthInput) * bbMultInput : na, title = "Lower Bollinger Band", color=color.green)
fill(bbUpperBand, bbLowerBand, color= isBB ? color.new(color.green, 90) : na, title="Bollinger Bands Background Fill")
//ADX
adxlen = input(14, title="ADX Smoothing")
dilen = input(14, title="DI Length")
dirmov(len) =>
    up1 = ta.change(high)
    down1 = -ta.change(low)
    plusDM = na(up1) ? na : (up1 > down1 and up1 > 0 ? up1 : 0)
    minusDM = na(down1) ? na : (down1 > up1 and down1 > 0 ? down1 : 0)
    truerange = ta.rma(ta.tr, len)
    plus = fixnan(100 * ta.rma(plusDM, len) / truerange)
    minus = fixnan(100 * ta.rma(minusDM, len) / truerange)
    [plus, minus]
adx(dilen, adxlen) =>
    [plus, minus] = dirmov(dilen)
    sum = plus + minus
    adx = 100 * ta.rma(math.abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)
sig = adx(dilen, adxlen)
out = ta.sma(close,14)
sma1=ta.sma(close,42)
ema200=ta.ema(close,200)
longCondition = (out>sma1) and ta.crossover(source1, lower1) 
if (longCondition )
    strategy.entry("long", strategy.long)
    
shortCondition = (out<sma1) and ta.crossunder(source1, lower1) 
if (shortCondition )
    strategy.entry("short", strategy.short)
    
    
stopl=strategy.position_avg_price-50
tptgt=strategy.position_avg_price+100
stopshort=strategy.position_avg_price+50
tptgtshort=strategy.position_avg_price-100
strategy.exit("longclose","long",trail_offset=50,trail_points=200,when=ta.crossover(sma1,out))
strategy.exit("shortclose","short",trail_offset=50,trail_points=200,when=ta.crossover(out,sma1))
    
//if strategy.position_avg_price<0
    
    
plot(sma1 , color=color.blue)
plot(out, color=color.green)
//plot(ema200,color=color.red)
    
    
Expand (108 lines)

Overview

Best TradingView Strategy enters short when the close crosses below that lower band while the faster SMA is below the slower one. RSI, with a selectable moving-average type and optional RSI bands, plus ADX are calculated but are not used in the shown entries. The excerpt sets 50-point stop and 100-point target prices from the average entry; the exit call itself is cut off.

Details

Published by

hasnocool on GitHub

Code credit

The_Bigger_Bull, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Category

Trend, Moving averages, Volatility & bands, Oscillators & momentum

Markets

Indices

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

Topics

analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
length1int9length1
mult1float2.0mult1
RSI Lengthint14rsiLengthInput
SourcesourceclosersiSourceInput
MA TypestringSMAmaTypeInput
MA Lengthint14maLengthInput
BB StdDevfloat2.0bbMultInput
ADX Smoothingint14adxlen
DI Lengthint14dilen
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.

Similar Pine Scripts

Momentum Rider DAILY FINAL

by greenpeas007
58 stars

This strategy combines exponential moving averages (EMA 9, 21, 50), RSI, MACD, and Supertrend indicators to enter long positions. It triggers trades using six dynamic setups based on momentum breakouts, EMA crossovers, and pullbacks. Position sizing is compute

Strategy v6 TrendOscillators & momentum Repaints
Updated 4 months ago · Custom licence GitHub repository of Momentum Rider DAILY FINAL

CombinedBinHAndClucV6

by viktors1982
36 stars

CombinedBinHAndClucV6 is a trading strategy based on the popular BinHV45 and ClucMay72018 algorithms. It calculates dual Bollinger Bands, Exponential Moving Averages, Relative Strength Index, Average True Range, and volume metrics across primary and one-hour h

Strategy v4 Volatility & bandsOscillators & momentum Repaints
Updated 2 years ago · None stated GitHub repository of CombinedBinHAndClucV6

BB Swing

by benso87
24 stars

This strategy calculates Bollinger Bands, a configurable moving average slope, Stochastic RSI, ATR, and ADX directly on the price chart. It evaluates trend bias and momentum conditions to generate long and short swing entries using percent-of-equity sizing. Th

Strategy v5 Volatility & bandsOscillators & momentum
Updated 4 years ago · MPL-2.0 GitHub repository of BB Swing

This strategy trades long and short on the price chart using a multi-timeframe TradingLatino setup. It requires EMA 10 to cross or sit above or below EMA 55 on the one-hour, four-hour, and daily charts, together with a positive ADX slope, a directional monitor

Strategy v5 TrendMoving averages
Updated 1 year ago · None stated GitHub repository of Ruckard ABCBitcoin TradingLatino A010

More strategys

Trade Your Charts With a Regulated Broker

Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.

Compare brokers