Calculates a historical dip level based on the lowest low over a specified lookback period. It enters a long strategy position when the current bar close falls below the previous dip level. Positions are managed with take profit and stop loss exits placed at f
Strategy · Pine Script v6 · Own pane
Contra v6
This Pine Script strategy fades exhaustion moves into the Pivot Point SuperTrend band.
GitHub stars1on the repository
Pine versionv6current
Lines of code278
Settings27inputs
LicenceCustom licence
Last update2 months ago7 Aug 2026
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
Contra v6 buys when price stretches down into the band and sells when price stretches up, using touch, reversal or both triggers. Entries support pyramiding with configurable steps in points, percent or ATR and a max pyramid count. Targets, stop losses and trailing stops can be set in points or percent. Filters include opening range breakout, ADX strength and optional ATR or EMA conditions. It plots the Pivot SuperTrend, entry markers and other diagnostics in a separate pane below the price chart. Notable limits are that it uses fixed position sizing without automatic stop loss and can pyramid multiple times in the same direction.
- Contra Mean Reversion
- SuperTrend Fade
- Pyramiding Entries
- Trailing Stop Management
- ADX ORB Filters
Details
Published by
jayadevrana on GitHub
Type
Draws
Separate pane below the chart
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
Topics
mean-reversionpine-script-v6pinescriptpivot-pointssupertrendtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Enable BUY (long fade) | bool | true | enLong |
| Enable SELL (short fade) | bool | true | enShort |
| Fire signal on | string | Both | trigMode |
| Qty per entry (first + each pyramid) | float | 1.0 | baseQty |
| Pivot point period | int | 2 | ppPrd |
| ATR factor | float | 3. | ppFactor |
| ATR period | int | 10 | ppAtrLen |
| Use ORB filter | bool | true | useOrb |
| ORB length (first N candles of session) | int | 3 | orbBars |
| DI length | int | 14 | diLen |
| ADX smoothing | int | 14 | adxSm |
| Min ADX to enter | float | 20 | minAdx |
Show all 27 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use ATR filter | bool | false | useAtr |
| ATR length | int | 14 | atrLen |
| ATR must be greater than | float | 10 | atrThr |
| Use EMA filter | bool | true | useEma |
| EMA length | int | 50 | emaLen |
| Number of pyramids after first entry | int | 2 | numPyr |
| Pyramid step type | string | Points | pyrType |
| Pyramid step (in unit above) | float | 20 | pyrVal |
| Target type | string | Points | tgtMode |
| Target value | float | 60 | tgtVal |
| SL type | string | Points | slMode |
| SL value | float | 40 | slVal |
| Trailing type | string | Off | trlMode |
| Trailing distance | float | 30 | trlVal |
| Plot ATR (own scale) | bool | false | showAtrP |
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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