This strategy combines Smart Money Concepts (BOS and CHoCH) with moving average trend filtering and volume spikes to generate trade signals. It checks for 20 EMA and 50 EMA alignment, along with volume 20% above its 20-period SMA. Long entries require a bullis
Strategy · Pine Script v4 · On the chart
BTCUSDT Binance 5m
A Pine v4 strategy that plots VWAP with one percent outer bands and tighter 0.8 percent inner bands.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code116
Settings10inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
A long begins on a green non-doji candle whose high reaches the inner upper band, and a short on a red one reaching the inner lower band. Inputs set percentage stops and take profits, double entries, a doji precision filter and an optional massive-reversal check. A days-back window limits the test. Everything draws on the price chart.
- VWAP with inner and outer percentage bands
- Percentage stop loss and take profit
- Doji precision filter
- Optional double entries
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 60 | daysBackMax |
| Min Days Back to Test | int | 0 | daysBackMin |
| Long Stop Loss % | float | 8 | longStopPerc |
| Short Stop Loss % | float | 8 | shortStopPerc |
| Long Take Profit % | float | 1 | longTakePerc |
| Short Take Profit % | float | 1 | shortTakePerc |
| Allow double longs? | bool | true | allowDoubleLongs |
| Allow double shorts? | bool | true | allowDoubleShorts |
| Check for massive reversals? | bool | false | useMassive |
| Precision | float | 0.01 | Precision |
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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