Calculates standard Bollinger Bands and identifies band expansion breakouts where upper and lower bands move in opposite directions. It enters long positions when price breaks above the upper band with a high candle body percentage, and enters short positions
Strategy · Pine Script v4 · On the chart
BTC Breakout Short Selling with Hedge
BTC Breakout Short Selling with Hedge is a strategy designed to trade downside breakouts.
GitHub stars4on the repository
Pine versionv4older, still runs
Lines of code30
Settings5inputs
LicenceGPL-3.0
Last update8 days ago20 Oct 2026
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
30 lines of Pine Script v4 from BTCBreakoutShortHedge.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy("BTC Breakout Short Selling with Hedge", shorttitle="BTC_BSSH", overlay=true)
// Input parameters
atr_length = input(14, title="ATR Length", minval=1)
breakout_length = input(50, title="Breakout Lookback Length", minval=1)
hedge_ratio = input(0.5, title="Hedge Ratio", type=input.float)
stop_loss_atr = input(2, title="Stop Loss Multiplier (ATR)", type=input.float)
take_profit_atr = input(3, title="Take Profit Multiplier (ATR)", type=input.float)
// Calculate Average True Range (ATR)
atr = atr(atr_length)
// Identify breakout
lowest_low = lowest(low, breakout_length)
breakout = close < lowest_low
// Entry conditions
enter_short = breakout
// Stop Loss and Take Profit levels
stop_loss_level = close + atr * stop_loss_atr
take_profit_level = close - atr * take_profit_atr
// Execute strategy
strategy.entry("Short", strategy.short, when=enter_short)
strategy.exit("SL/TP", "Short", stop=stop_loss_level, limit=take_profit_level)
// Hedge position
strategy.entry("Hedge", strategy.long, qty_percent=hedge_ratio * 100, when=enter_short)
Overview
BTC Breakout Short Selling with Hedge identifies market lows over a specified lookback period to trigger short entries. Upon entry, it calculates dynamic stop loss and take profit levels based on Average True Range multipliers. Simultaneously, the strategy opens a long hedge position scaled by a percentage hedge ratio. The strategy overlays directly on the main price chart. Note that while the short entry includes defined risk exits, the secondary hedge position does not feature built-in stop loss or take profit rules.
- ATR-based dynamic stop loss and take profit
- Lookback lowest low breakout calculation
- Dual short entry and long hedge execution
- Adjustable hedge ratio multiplier
Details
Published by
RPNATION1 on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Breakout, Volatility & bands
Markets
Crypto
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.
Repository
Topics
forex-tradingpinescripttrading-bottrading-strategiesmetatrader-4quantitative-finance
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Length | int | 14 | atr_length |
| Breakout Lookback Length | int | 50 | breakout_length |
| Hedge Ratio | float | 0.5 | hedge_ratio |
| Stop Loss Multiplier (ATR) | float | 2 | stop_loss_atr |
| Take Profit Multiplier (ATR) | float | 3 | take_profit_atr |
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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