This trend-following strategy executes a classic Donchian channel breakout system designed to cross-validate backtest results against external framework benchmarks. It triggers a long entry when the closing price breaks above the highest high of the prior entr
Strategy · Pine Script v5 · On the chart
Edge 60
This strategy executes a classic Donchian-style breakout system on the price chart.
GitHub stars6on the repository
Pine versionv5runs as is
Lines of code68
Settings1inputs
LicenceCustom licence
Last update2 years ago10 Apr 2024
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
Edge 60 calculates the highest high and lowest low over a user-defined lookback period offset by one bar. A long position is opened when the price breaks above the previous period high, and a short position is opened when the price breaks below the previous period low. Positions are sized using available account equity divided by close price and are reversed or closed upon opposing signals, operating without a predefined stop loss or take profit.
- Donchian breakout calculation over adjustable lookback bars
- Dynamic equity-based position sizing
- Plots breakout boundary levels directly on the chart
- Directional signal arrows on breakouts
- Opposite signal position closing and reversal
Details
Published by
subos2008 on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Breakout, Trend
Markets
Crypto
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
binancebinance-trading-botstrading-bot
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Number of Days (Close Breakout) | int | 22 | num_breakout_days |
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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