Dead Cat Bounce: Free TradingView Strategy (Pine Script)

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

When a run breaks, the script plots measured move projection arrows, high-water mark lines, and Fibonacci levels directly on the price chart. It executes long positions on bullish reversal breaks and short positions on bearish reversal breaks. Strategy exits are managed via a risk and profit framework including stop loss and take profit rules. Configurable inputs adjust run length, candle body filtering, ATR filters, and visual elements.

Consecutive bar run detection
Symmetric projection arrow drawing
Fibonacci level grid
Candle body and ATR filtering
Integrated exit and risk framework

Details

Published by

TradersPost on GitHub

Type

Strategy, Pine Script v6

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

projects/dead-cat-bounce-strategy.pine

Repository

github.com/TradersPost/pinescript-agents. See its other scripts in the library

Settings

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

Setting	Type	Default	Variable
Run length	`int`	`5`	`length`
Directional candles only	`bool`	`false`	`require_dir`
Doji invalidates run	`bool`	`false`	`doji_breaks`
└ Max body %	`float`	`5`	`doji_max_body`
Use candle bodies	`bool`	`false`	`use_body`
Break candle must engulf	`bool`	`false`	`require_engulf`
Break near pivot	`bool`	`false`	`limit_break_dist`
└ Max bars	`int`	`0`	`break_max_bars`
Big bar invalidates run	`bool`	`false`	`atr_filter`
└ ATR	`int`	`14`	`atr_filter_len`
×	`float`	`2.0`	`atr_filter_mult`
Sequential extremes	`bool`	`false`	`require_extend`

Show all 40 settings

Setting	Type	Default	Variable
Break clears pivot extreme	`bool`	`true`	`break_clears_pivot`
Trend line	`bool`	`true`	`show_trend`
Projection	`bool`	`true`	`show_proj`
Reversal marker	`bool`	`true`	`show_rev`
Hide realized legs	`bool`	`true`	`skip_realized`
High-water mark	`bool`	`true`	`show_hwm`
Target label	`bool`	`true`	`show_target`
Price	`bool`	`true`	`lbl_price`
Points	`bool`	`true`	`lbl_points`
%	`bool`	`true`	`lbl_pct`
Text size	`int`	`12`	`lbl_size`
Bullish	`color`	`#54a0ff`	`up_proj_col`
Bearish	`color`	`#B53471`	`down_proj_col`
Line width	`int`	`2`	`line_w`
Fib level grid	`bool`	`true`	`show_fibs`
Include extensions	`bool`	`false`	`fib_show_ext`
Level labels	`bool`	`true`	`fib_lbl`
Line style	`string`	`Dotted`	`fib_style_sel`
Transparency	`int`	`55`	`fib_transp`
Stats table	`bool`	`true`	`show_stats`
Reach levels (Fib)	`string`	`0.786`	`stat1_sel`
stat1_cust	`float`	`0.786`	`stat1_cust`
stat2_sel	`string`	`0.618`	`stat2_sel`
stat2_cust	`float`	`0.618`	`stat2_cust`
stat3_sel	`string`	`0.5`	`stat3_sel`
stat3_cust	`float`	`0.5`	`stat3_cust`
Default Unit	`string`	`PnL`	`i_global_unit`
ATR Period	`int`	`14`	`i_atr_period`

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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