Exceeded Candle [Alorse] is a mean-reversion strategy that identifies candlestick engulfing patterns combined with Bollinger Bands filters. It enters a long position when a green candle surpasses the body of the previous red candle while price is below the mid
Strategy · Pine Script v5 · On the chart
Double Star Strategy
A strategy for the price chart that combines Bollinger Bands, the MACD line and a small-candle-body test.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code135
Settings12inputs
LicenceNone stated
Last update1 year ago26 Feb 2025
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
Shorts follow a close above the upper band with a small body and MACD above zero, then a lower close; longs follow a close below the lower band with a small body and MACD below zero. Trade direction can be limited, position size is derived from a maximum loss percentage and an ATR-based stop, and an optional session filter is included.
- Bollinger Band and MACD confirmation
- Small candle body filter
- Long, short or both directions
- ATR-based stop with risk-based sizing
- Optional trading session filter
Details
Published by
mkdir700 on GitHub
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
M15-H1
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 |
|---|---|---|---|
| 交易方向 | string | both | tradeDirection |
| 最大损失比例 | float | 2.0 | maxLossPercent |
| ATR周期 | int | 14 | atrPeriod |
| ATR倍数 | float | 1.0 | atrMultiplier |
| 启用交易时间限制 | bool | false | useTimeFilter |
| 交易时段 | session | 0930-1600 | sessionTime |
| 布林带周期 | int | 20 | length |
| 布林带标准差倍数 | float | 2.0 | mult |
| MACD快线 | int | 12 | fast_length |
| MACD慢线 | int | 26 | slow_length |
| MACD信号线 | int | 9 | signal_length |
| K线实体占比阈值 | float | 2 | bodyPercentageThreshold |
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.
Similar Pine Scripts
Mean Reversion Strategy is an overlay strategy that identifies pullbacks using a long-term EMA, RSI, and candlestick patterns. It generates long signals when a bullish engulfing candle forms below the EMA while RSI is oversold, and short signals when a bearish
The STRG One Bar Pursuit strategy identifies single-bar momentum reversals by monitoring shifts between bullish and bearish candlesticks starting from the year 2024. It enters a long position when a bullish candle follows a bearish candle and enters a short po
This Pine Script strategy identifies major and minor Leledec exhaustion bars by tracking consecutive price bar comparisons against past closes and checking local extremes over set lookback lengths. It overlays visual markers directly on the price chart for det
BodyOutlier A003 is a mean-reversion trading strategy designed for automated execution via Zignaly alerts. It identifies candlestick body outliers to place limit orders, buying at the low of unusually large bullish candles or selling at the high of large beari
Markov Strategy is a mean-reversion quantitative strategy inspired by streak-based Markov chain analysis. Applied directly to the price chart, it monitors price action for consecutive downward closes. The strategy enters a long position after detecting six con
Related on ForexR
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers