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
Evening Star with Bollinger Bands Strategy
A short-only strategy for the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code82
Settings11inputs
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
Evening Star with Bollinger Bands Strategy enters a short when the high pokes above the upper Bollinger Band, the candle body is small relative to its range, MACD is above zero and an optional session window allows trading. The stop sits one ATR multiple above the signal high and trails lower, and position size is set so the stop distance risks a chosen percentage of equity. Bands, signals and the trailing stop are plotted.
- Short entries at the upper Bollinger Band
- Small candle body test for evening-star shape
- MACD above zero confirmation
- Trailing ATR stop and equity-risk sizing
- Optional trading session filter
Details
Published by
mkdir700 on GitHub
Type
Draws
On the price chart
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 |
|---|---|---|---|
| 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 | 30 | 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.
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