This strategy overlays the price chart to trade DAX futures during European market hours. It calculates exponential and simple moving averages, RSI, MACD, Bollinger Bands, ATR, and realized volatility to simulate VIX levels. Trades execute when session time fi
Strategy · Pine Script v5 · On the chart
FTB Strategy
The FTB Strategy is a short-only overlay strategy targeting EURUSD during the European session from 0200-0700.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code178
Settings18inputs
LicenceNone stated
Last update2 years ago13 Sep 2024
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
FTB Strategy enters short positions when filters confirm RSI overbought, a bullish prior bar close, or a high price level within lookback bars, combined with a candle close percentage threshold. Stop loss is placed at the specified stop pips above the high, with take profit set by the risk-reward ratio. Position size is calculated from starting balance and risk per trade. The script plots signals and equity curves on the price chart. Filters and session times are main adjustable settings. It is a curve-fitted example strategy with no exit rules beyond the take profit.
- short-only EURUSD strategy
- European 0200-0700 session
- RSI overbought filter
- pips-based stop loss
- risk-reward take profit
Details
Published by
Web3Degenerate on GitHub
Code credit
ZenAndTheArtOfTrading / www.PineScriptMastery.com, as written in the script's header
Type
Draws
On the price chart
Category
Markets
Timeframes
M15-H1
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Stop Pips | float | 2.0 | pips |
| Risk:Reward | float | 1.0 | rr |
| Timezone | session | 0200-0700 | timezone |
| RSI OB/OS? | bool | true | useRsiFilter |
| Previous Bar Must Be Bullish? | bool | false | useCloseFilter |
| High Filter | bool | false | useHighFilter |
| High Lookback | int | 10 | highLookback |
| Candle Close % | float | 0.5 | fib |
| RSI Length | int | 3 | rsiLen |
| RSI OB | float | 70.0 | rsiOB |
| Monday | bool | true | d_monday |
| Tuesday | bool | true | d_tuesday |
Show all 18 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Wednesday | bool | true | d_wednesday |
| Thursday | bool | true | d_thursday |
| Friday | bool | true | d_friday |
| Starting Balance | float | 10000.0 | startBalance |
| Risk Per Trade | float | 1.0 | riskPerTrade |
| Draw Backtester | bool | true | drawTester |
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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