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 v6 · On the chart
Channel Breakout Strategy
A Pine v6 strategy that trades a rolling channel breakout on the price chart.
GitHub stars1on the repository
Pine versionv6current
Lines of code18
Settings1inputs
LicenceNone stated
Last update1 year ago27 May 2025
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
Channel Breakout Strategy tracks the highest high and lowest low over a length setting, then places a stop order to go long one tick above the upper bound and a stop order to go short one tick below the lower bound. There is no separate stop loss or take profit, so positions reverse on the opposite breakout. Sizing uses all equity with commission and slippage set in the code.
- Highest-high and lowest-low channel over a set length
- Long and short stop-order entries one tick beyond the channel
- Always-in-market reversal with no stop loss
- Commission and slippage built into the strategy settings
Details
Published by
Studentcodee on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 10 | length |
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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