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 v6 · On the chart
Feature Matrix - strategy
Feature Matrix - strategy is a minimal Pine Script v6 strategy designed to verify basic strategy execution functionality.
GitHub stars26on the repository
Pine versionv6current
Lines of code8
Settings0inputs
LicenceAGPL-3.0
Last update2 months ago21 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
8 lines of Pine Script v6 from test/pinescripts/corpus/fm-strategy-basic.pine, published under AGPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=6
strategy("Feature Matrix - strategy", overlay=true)
shouldLong = close > open
if shouldLong
strategy.entry("L", strategy.long)
plot(close, "Close")
Overview
Feature Matrix - strategy evaluates whether the closing price is higher than the opening price on the current bar. When a bullish candle forms, the script triggers a long position entry. It overlays the closing price line directly on the price chart. This basic script lacks exit conditions, stop loss mechanisms, and risk management parameters.
- Bullish bar long entry logic
- Chart overlay close price plot
- Pine Script v6 strategy implementation
Details
Published by
heyphat on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
backtestingindicatorspine-scriptpinescripttechnical-analysistradingtradingviewtypescript
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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