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 71
This strategy plots prior high and low breakout levels on the price chart and trades a long breakout.
Repaints
GitHub stars6on the repository
Pine versionv5runs as is
Lines of code69
Settings2inputs
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 71 goes long when the bar high exceeds the previous bar's highest high over a user-set lookback, and it closes that long when the bar low breaks the previous bar's lowest low over a separate lookback. Short entries are present only as a signal and are not submitted. Order size is the whole account equity divided by price, floored to a whole number. There is no stop loss or take profit.
- Prior highest-high long breakout
- Prior lowest-low short signal
- Separate long and short lookbacks
- Equity-based order size
- Breakout level plots and arrows
Details
Published by
subos2008 on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Breakout, Support & resistance
Markets
Crypto
Timeframes
H4 and above
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- 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 for Long (Close Breakout) | int | 250 | num_high_days |
| Number of Days for Short (Close Breakout) | int | 60 | num_low_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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