This strategy trades price action pin bar patterns aligned with moving average trend alignment on the main price chart. It defines uptrends or downtrends using a fan arrangement of three moving averages (6 EMA, 18 EMA, and 50 SMA). Entry conditions require a b
Strategy · Pine Script v4 · On the chart
ETHUSDT Binance 5m
The script calculates multiple offset VWAP lines alongside Doji candle filters to generate trading signals on a five-minute cryptocurrency chart.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code110
Settings6inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
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
ETHUSDT Binance 5m identifies bullish entry conditions when non-Doji green candles break above upper VWAP thresholds, and bearish entries when non-Doji red candles fall below lower VWAP thresholds. Long and short stop losses are set using user-defined percentage parameters. All indicators, VWAP lines, Doji highlights, and entry signal labels are drawn directly on the main price chart.
- Custom offset VWAP calculations
- Doji candle filter with configurable precision
- Percentage-based stop loss controls
- Optional massive candle filter
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 30 | daysBackMax |
| Min Days Back to Test | int | 0 | daysBackMin |
| Long Stop Loss % | float | 0.69 | longLossPerc |
| Short Stop Loss % | float | 0.85 | shortLossPerc |
| Check for massive reversals? | bool | false | useMassive |
| Precision | float | 0.3 | Precision |
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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