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 v4 · On the chart
Extrema
Extrema is an overlay strategy that evaluates lowest low price points across exponentially scaled lookback periods.
GitHub stars13on the repository
Pine versionv4older, still runs
Lines of code249
Settings5inputs
LicenceNone stated
Last update4 years ago13 Apr 2022
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
Extrema calculates period lengths using exponential math controlled by base, factor, and crop settings, then tracks falling price extremes across multiple window tiers. Strategy execution is strictly constrained within user-defined start and end dates. Notably, the strategy permits heavy position pyramiding with up to 73 concurrent entries and includes no hard stop loss.
- Exponential lookback period calculation
- Multi-period lowest low breakdown tracking
- Date range filter for strategy testing
- High level pyramiding position entries
Details
Published by
CMYKSCRIPTS on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Support & resistance, Breakout, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
- 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 |
|---|---|---|---|
| Start Time | time | timestamp("21 May 2021 12:00 +0000") | TIME_DATE_START |
| End Time | time | timestamp("16 Aug 2021 00:00 +0000") | TIME_DATE_END |
| B Base Number | int | 2 | BASE |
| F Factor Multiplier | int | 1 | FACTOR |
| C Crop Low | int | 3 | CROP |
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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