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
DCA Long Nonstop opens a base order at market entry then adds safety orders when price drops soStep percent below the base price, with each subsequent safety order sized larger by 5 percent. When price rises tpPct percent above the average entry price it closes the entire position and immediately restarts the ladder. The strategy uses fixed risk per trade, commissions, and a maximum of five safety orders. It draws base order price, safety order levels, average entry line, and colored bars on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Start Date
time
timestamp("2021-01-01")
startDate
Take Profit %
float
30.0
tpPct
Safety Order Step %
float
18.0
soStep
Max Safety Orders
int
5
maxSo
Show SO / TP Levels
bool
true
showLevels
Show Avg Entry Line
bool
true
showAvgLine
Color Bars
bool
true
colorBars
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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