by 
This strategy trades price action pin bar patterns aligned with moving average trend alignment on the main price chart. It defines uptrends or downtrends using a fan arrangement of three moving averages (6 EMA, 18 EMA, and 50 SMA). Entry conditions require a b
Strategy · Pine Script v5 · On the chart
Consecutive Up/Down Strategy
This strategy tracks consecutive bullish and bearish candlestick closes relative to the preceding bar.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code14
Settings2inputs
LicenceMIT
Last update3 years ago10 Feb 2023
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
14 lines of Pine Script v5 from Strategies/All Strategies are Here 🤩/Consecutive-UP-DOWN-Strategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Consecutive Up/Down Strategy", overlay=true)
consecutiveBarsUp = input(3)
consecutiveBarsDown = input(3)
price = close
ups = 0.0
ups := price > price[1] ? nz(ups[1]) + 1 : 0
dns = 0.0
dns := price < price[1] ? nz(dns[1]) + 1 : 0
if (ups >= consecutiveBarsUp)
strategy.entry("ConsUpLE", strategy.long, comment="ConsUpLE")
if (dns >= consecutiveBarsDown)
strategy.entry("ConsDnSE", strategy.short, comment="ConsUpLE")
//plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Overview
Consecutive Up/Down Strategy enters a long position when price closes higher for a specified number of consecutive bars, and enters a short position when price closes lower for a designated consecutive count. Inputs allow traders to customize the required threshold for consecutive up and down bars. The script plots signals directly on the price chart and reverses existing trades upon opposite conditions, but it lacks defined stop loss and take profit rules.
- Consecutive up and down bar tracking
- Configurable threshold settings
- Automatic position reversal signals
Details
Published by
TWODS-CAPITAL on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Candlestick patterns, Trend
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 |
|---|---|---|---|
| consecutiveBarsUp | int | 3 | consecutiveBarsUp |
| consecutiveBarsDown | int | 3 | consecutiveBarsDown |
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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