Big Bar Strategy identifies unusually large candles relative to a moving average of recent bar body sizes. It executes contrarian trades by opening long positions following a large bearish bar and short positions after a large bullish bar, with an optional con
Strategy · Pine Script v4 · On the chart
Exceeded candle [Alorse]
Exceeded Candle [Alorse] is a mean-reversion strategy that identifies candlestick engulfing patterns combined with Bollinger Bands filters.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code42
Settings4inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
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
Exceeded candle [Alorse] enters a long position when a green candle surpasses the body of the previous red candle while price is below the middle Bollinger Band basis, provided recent candles meet specific conditions. Long trades are closed when price touches or crosses above the upper Bollinger Band. The strategy plots signal arrows and bands on the main chart pane and lacks a stop-loss exit rule.
- Candlestick engulfing pattern detection
- Bollinger Bands volatility filter
- On-chart signal shape arrows
- Upper band exit trigger
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Mean reversion, Candlestick patterns, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Version | string | txtVer | version |
| Source | source | close | src |
| Length | int | 20 | length |
| StdDev | float | 2.0 | mult |
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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