Strategy · Pine Script v5 · On the chart

[CBB] LWMA OCx 8/10 Strategy

by codybbrown· code credited to bright_infinite

This trend-following strategy plots an 8-period WMA on close prices, a 10-period WMA on open prices, a 100-period Hull Moving Average, and a VWAP EMA overlay on the price chart.

View on GitHub

GitHub stars2on the repository
Pine versionv5runs as is
Lines of code60
Settings5inputs
LicenceNone statedfile: MPL-2.0
Last update3 years ago11 Apr 2023

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

60 lines of Pine Script v5 from cbb-strategy-trend-averages-LWmaOCx8-10.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

cbb-strategy-trend-averages-LWmaOCx8-10.pine
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © bright_infinite

//@version=5
strategy("[CBB] LWMA OCx 8/10 - strat ", 
     shorttitle = "LWMAx 8/10 strat", 
     overlay=true,
     pyramiding=0,
     calc_on_every_tick=false,
     initial_capital=1000000,
     default_qty_type=strategy.percent_of_equity,
     default_qty_value=70,
     currency=currency.USD)

// ------------------------ Input
in_len_fastMa       = input.int(8, 'Fast ma Length')
in_len_slowMa       = input.int(10, 'Slow ma Length')
in_len_hma          = input.int(100, 'HMA Length')
in_src_fast         = input.source(close, 'Fast ma Source')
in_src_slow         = input.source(open, 'Slow ma Source')

// ------------------------ Functions
oc(thresh) =>
    result = (open > thresh) and (close > thresh) ? 1 : (open < thresh) and (close < thresh) ? -1 : na 
    result

// ------------------------ Vars
wma_8       = ta.wma(in_src_fast, in_len_fastMa)   // Gray Line
wma_10      = ta.wma(in_src_slow, in_len_slowMa) // black line
hma         = ta.hma(close, in_len_hma) 
_vwap       = ta.ema(ta.vwap, 20)

// ------------------------ PLOTS
plot(hma, 'HMA 50')
plot(wma_8, color=color.rgb(0, 0, 0, 60), title = 'WMA 8')
plot(wma_10, color=color.rgb(0, 0, 0), title = 'WMA 10')
plot(_vwap, color=color.red, title = 'VWAP 20')

// ------------------------ Signals
// L0          = ta.crossover(wma_8, wma_10) and wma_10 < hma
// CL0         = wma_8 < hma and open < hma
// S0          = ta.crossunder(wma_8, wma_10) and wma_10 > hma
// CS0         = wma_8 > hma and open > hma
L0          = ta.crossover(wma_8, wma_10) and wma_10 > hma
CL0         = wma_8 < hma and open < hma
S0          = ta.crossunder(wma_8, wma_10) and wma_10 < hma
CS0         = wma_8 > hma and open > hma



if (L0)
    // strategy.close("S0", comment = "CS0")
    strategy.entry("L0", strategy.long)
if (CL0)
    strategy.close("L0", comment = "CL0")
if (S0)
    // strategy.close("L0", comment = "CL0")
    strategy.entry("S0", strategy.short)
if (CS0)
    strategy.close("S0", comment = "CS0")

Overview

[CBB] LWMA OCx 8/10 Strategy enters long when the fast WMA crosses above the slow WMA while above the HMA filter, and enters short when crossing below while under the HMA. Long positions exit when prices and WMA fall below the HMA, and short positions exit on the inverse condition. It operates without a defined stop loss.

Details

Published by

codybbrown on GitHub

Code credit

bright_infinite, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Category

Trend, Moving averages

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • The strategy enters trades without a stop loss

Topics

momentum-trading-strategypinescripttrading-strategiestradingviewvolatility-tradingtrading-indcators

Settings

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

SettingTypeDefaultVariable
Fast ma Lengthint8in_len_fastMa
Slow ma Lengthint10in_len_slowMa
HMA Lengthint100in_len_hma
Fast ma Sourcesourceclosein_src_fast
Slow ma Sourcesourceopenin_src_slow
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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