Strategy · Pine Script v4 · On the chart

Flawless Victory Strategy

by zhuzp98· code credited to Bunghole

A mean-reversion strategy that buys when price closes below a Bollinger Band while RSI stays above a floor level, and exits on upper-band breaks combined with RSI or MFI conditions.

View on GitHub

GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code134
Settings7inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago17 Jan 2025

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 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

134 lines of Pine Script v4 from PineScript/Stg_ex_Flawless.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

Stg_ex_Flawless.pine
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Bunghole

//@version=4
strategy(overlay=true, shorttitle="Flawless Victory Strategy", default_qty_type = strategy.percent_of_equity, initial_capital = 100000, default_qty_value = 100, pyramiding = 0, title="Flawless Victory Strategy", currency = 'USD')

////////// ** Inputs ** //////////

// Stoploss and Profits Inputs

v1 = input(true, title="Version 1 - Doesn't Use SL/TP")
v2 = input(false, title="Version 2 - Uses SL/TP")
v3 = input(false, title="Version 3 - Uses SL/TP")
v2stoploss_input = input(6.604, title='Stop Loss %', type=input.float, minval=0.01)/100
v2takeprofit_input = input(2.328, title='Take Profit %', type=input.float, minval=0.01)/100
v2stoploss_level = strategy.position_avg_price * (1 - v2stoploss_input)
v2takeprofit_level = strategy.position_avg_price * (1 + v2takeprofit_input)

v3stoploss_input = input(8.882, title='Stop Loss %', type=input.float, minval=0.01)/100
v3takeprofit_input = input(2.317, title='Take Profit %', type=input.float, minval=0.01)/100
v3stoploss_level = strategy.position_avg_price * (1 - v3stoploss_input)
v3takeprofit_level = strategy.position_avg_price * (1 + v3takeprofit_input)

plot(v2 and v2stoploss_input and v2stoploss_level ? v2stoploss_level: na, color=color.red, style=plot.style_linebr, linewidth=2, title="v2 Stoploss")
plot(v2 and v2takeprofit_input ? v2takeprofit_level: na, color=color.green, style=plot.style_linebr, linewidth=2, title="v2 Profit")

plot(v3 and v3stoploss_input and v3stoploss_level ? v3stoploss_level: na, color=color.red, style=plot.style_linebr, linewidth=2, title="v3 Stoploss")
plot(v3 and v3takeprofit_input ? v3takeprofit_level: na, color=color.green, style=plot.style_linebr, linewidth=2, title="v3 Profit")

////////// ** Indicators ** //////////

// RSI

len = 14
src = close
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - 100 / (1 + up / down)

// MFI

MFIlength = 14
MFIsrc = hlc3
MFIupper = sum(volume * (change(MFIsrc) <= 0 ? 0 : MFIsrc), MFIlength)
MFIlower = sum(volume * (change(MFIsrc) >= 0 ? 0 : MFIsrc), MFIlength)
_rsi(MFIupper, MFIlower) =>
    if MFIlower == 0
        100
    if MFIupper == 0
        0
    100.0 - (100.0 / (1.0 + MFIupper / MFIlower))
mfi = _rsi(MFIupper, MFIlower)

// v1 Bollinger Bands

length1 = 20
src1 = close
mult1 = 1.0
basis1 = sma(src1, length1)
dev1 = mult1 * stdev(src1, length1)
upper1 = basis1 + dev1
lower1 = basis1 - dev1

// v2 Bollinger Bands

length2 = 17
src2 = close
mult2 = 1.0
basis2 = sma(src2, length2)
dev2 = mult2 * stdev(src2, length2)
upper2 = basis2 + dev2
lower2 = basis2 - dev2

////////// ** Triggers and Guards ** //////////

// v1 Strategy Parameters

RSILowerLevel1 = 42
RSIUpperLevel1 = 70
BBBuyTrigger1 = src1 < lower1
BBSellTrigger1 = src1 > upper1
rsiBuyGuard1 = rsi > RSILowerLevel1
rsiSellGuard1 = rsi > RSIUpperLevel1

// v2 Strategy Parameters

RSILowerLevel2 = 42
RSIUpperLevel2 = 76
BBBuyTrigger2 = src2 < lower2
BBSellTrigger2 = src2 > upper2
rsiBuyGuard2 = rsi > RSILowerLevel2
rsiSellGuard2 = rsi > RSIUpperLevel2

// v3 Strategy Parameters

MFILowerLevel3 = 60
RSIUpperLevel3 = 65
MFIUpperLevel3 = 64
BBBuyTrigger3 = src1 < lower1
BBSellTrigger3 = src1 > upper1
mfiBuyGuard3 = mfi < MFILowerLevel3
rsiSellGuard3 = rsi > RSIUpperLevel3
mfiSellGuard3 = mfi > MFIUpperLevel3 

//////////** Strategy Signals ** //////////

// v1 Signals

Buy_1 = BBBuyTrigger1 and rsiBuyGuard1
Sell_1 = BBSellTrigger1 and rsiSellGuard1

if v1 == true
    strategy.entry("Long", strategy.long, when = Buy_1, alert_message = "v1 - Buy Signal!")
    strategy.close("Long", when = Sell_1, alert_message = "v1 - Sell Signal!")

// v2 Signals

Buy_2 = BBBuyTrigger2 and rsiBuyGuard2
Sell_2 = BBSellTrigger2 and rsiSellGuard2

if v2 == true
    strategy.entry("Long", strategy.long, when = Buy_2, alert_message = "v2 - Buy Signal!")
    strategy.close("Long", when = Sell_2, alert_message = "v2 - Sell Signal!")
    strategy.exit("Stoploss/TP", "Long", stop = v2stoploss_level, limit = v2takeprofit_level)

// v3 Signals

Buy_3 = BBBuyTrigger3 and mfiBuyGuard3
Sell_3 = BBSellTrigger3 and rsiSellGuard3 and mfiSellGuard3

if v3 == true
    strategy.entry("Long", strategy.long, when = Buy_3, alert_message = "v2 - Buy Signal!")
    strategy.close("Long", when = Sell_3, alert_message = "v2 - Sell Signal!")
    strategy.exit("Stoploss/TP", "Long", stop = v3stoploss_level, limit = v3takeprofit_level)

Overview

Three selectable versions exist: the first has no stop loss or take profit, while the second and third add percentage stop and target levels, drawn as lines on the price chart. Full-equity position sizing is the default, so the first version carries open-ended downside.

Details

Published by

zhuzp98 on GitHub

Code credit

Bunghole, as written in the script's header

Type

Strategy, Pine Script v4

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

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.

SettingTypeDefaultVariable
Version 1 - Doesn't Use SL/TPbooltruev1
Version 2 - Uses SL/TPboolfalsev2
Version 3 - Uses SL/TPboolfalsev3
Stop Loss %float6.604v2stoploss_input
Take Profit %float2.328v2takeprofit_input
Stop Loss %float8.882v3stoploss_input
Take Profit %float2.317v3takeprofit_input
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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