This trend-following strategy executes a classic Donchian channel breakout system designed to cross-validate backtest results against external framework benchmarks. It triggers a long entry when the closing price breaks above the highest high of the prior entr
Strategy · Pine Script v5 · On the chart
Buy/Sell Signal Template/Boilerplate Strategy [ExoMaven]
This boilerplate strategy script acts as a customizable template for generating buy and sell signals based on price or source crossovers relative to defined fixed values.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code20
Settings5inputs
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
20 lines of Pine Script v5 from Buy-Sell Signal Template-Boilerplate Strategy [JacobMagleby].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/
// © ExoMaven
//@version=5
strategy(title = "Buy/Sell Signal Template/Boilerplate Strategy[ExoMaven]", shorttitle = "Buy/Sell Signal Template Strategy[V1]", overlay = true)
source = input.source(title = "Source", defval = ohlc4, group = "Source Settings")
buy_type = input.string(title = "Buy Type", defval = "Greater Than", options = ["Greater Than", "Less Than"], group = "Signal Settings")
buy_value = input.float(title = "Buy Value", defval = 50, group = "Signal Settings")
sell_type = input.string(title = "Sell Type", defval = "Less Than", options = ["Less Than", "Greater Than"], group = "Signal Settings")
sell_value = input.float(title = "Sell Value", defval = 50, group = "Signal Settings")
buy_above_or_below = buy_type == "Greater Than" ? source > buy_value and source[1] < buy_value : source < buy_value and source[1] > buy_value
sell_above_or_below = sell_type == "Less Than" ? source < sell_value and source[1] > sell_value : source > sell_value and source[1] < sell_value
buy = buy_above_or_below and barstate.isconfirmed
sell = sell_above_or_below and barstate.isconfirmed
if buy
strategy.close_all()
strategy.entry(id = "Buy", direction = strategy.long)
if sell
strategy.close_all()
strategy.entry(id = "Sell", direction = strategy.short)
Expand (27 lines)
Overview
Users can select an input source, set threshold values, and specify whether to trigger entries when the source moves greater than or less than those values. When a buy or sell condition is met on a confirmed bar, the strategy closes existing positions and opens new long or short entries directly on the chart. Note that this basic template does not include stop-loss or take-profit rules.
- Configurable source threshold crossover rules
- Directional buy and sell logic choices
- Confirmed bar execution filtering
- Reversing long and short entry conditions
Details
Published by
hasnocool on GitHub
Code credit
ExoMaven, as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | ohlc4 | source |
| Buy Type | string | Greater Than | buy_type |
| Buy Value | float | 50 | buy_value |
| Sell Type | string | Less Than | sell_type |
| Sell Value | float | 50 | sell_value |
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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