Calculates a momentum squeeze using Bollinger Bands and Keltner Channels alongside a trend-filtering moving average. It generates long and short entries based on squeeze momentum bar conditions and an optional pre-squeeze dot count filter. Exits can trigger on
Strategy · Pine Script v5 · On the chart
Donchian Breakout
This strategy enters long when the close is above an exponential moving average and RSI is above a threshold, and enters short when the close is below that average and RSI is below the threshold.
Repaints
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code24
Settings5inputs
LicenceNone stated
Last update8 days ago22 Oct 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
A bearish signal also closes an open long. Exits use the stop and take-profit inputs as tick distances even though the labels say percent. Length, RSI period, threshold, and exit distances are adjustable. It sizes orders at 10 percent of equity on the price chart and plots no channel; the named Donchian length only sets the average.
- EMA break with RSI confirmation
- Long and short strategy entries
- Stop and take-profit exits
- 10 percent of equity sizing
- Adjustable length and RSI threshold
Details
Published by
latentwill on GitHub
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Donchian Length | int | 20 | dc_len |
| RSI Length | int | 14 | rsi_len |
| RSI Momentum Threshold | int | 50 | rsi_confirm |
| Stop Loss % | float | 2.5 | stop_pct |
| Take Profit % | float | 5.0 | profit_pct |
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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