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
Breakeven Line Demo
The Breakeven Line Demo strategy is a Pine Script demonstration tool designed to visualize the average position price of stacked trades.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code28
Settings0inputs
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
28 lines of Pine Script v5 from Breakeven Line Demo.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/
// © Eliza123123
//@version=5
strategy("Breakeven Line Demo", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value = 0.27,
pyramiding=999, initial_capital=10000, commission_type=strategy.commission.percent, commission_value=0.00)
// Generic signal (not a viable strategy don't use, just some code I wrote quick for demo purposes only)
red = open > close, green = open < close
sevenReds = red and red[1] and red[2] and red[3] and red[4] and red[5] and red[6]
sevenGreens = green and green[1] and green[2] and green[3] and green[4] and green[5] and green[6]
if sevenReds
strategy.entry('Buy', direction=strategy.long)
if sevenGreens
strategy.entry('Sell', direction=strategy.short)
if (hour == 5 and minute == 0 ) or (hour == 11 and minute == 0) or (hour == 17 and minute == 0 ) or (hour == 23 and minute == 0)
strategy.close_all("Close")
// Breakeven line for visualising breakeven price on stacked orders.
var breakEvenLine = 0.0
if strategy.opentrades > 0
breakEvenLine := strategy.position_avg_price
else
breakEvenLine := 0.0
color breakEvenLineColor = na
if strategy.position_size > 0
breakEvenLineColor := #15FF00
if strategy.position_size < 0
breakEvenLineColor := #FF000D
plot(breakEvenLine, color = breakEvenLine and breakEvenLine[1] > 0 ? breakEvenLineColor : na, linewidth = 2, style = plot.style_circles)
Expand (32 lines)
Overview
Breakeven Line Demo enters long positions after seven consecutive bearish candles and short positions after seven consecutive bullish candles. All positions are closed automatically at designated scheduled hours throughout the day. The strategy plots a colored circle line on the main price chart representing the breakeven level in green for long trades and red for short trades. It allows order stacking via high pyramiding and lacks explicit stop-loss rules.
- Breakeven price line visualization
- Consecutive candle entry logic
- Scheduled time-based trade exit
- Average entry tracking for stacked orders
Details
Published by
hasnocool on GitHub
Code credit
Eliza123123, as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Mean reversion, Support & resistance, Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
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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