This strategy trades price action pin bar patterns aligned with moving average trend alignment on the main price chart. It defines uptrends or downtrends using a fan arrangement of three moving averages (6 EMA, 18 EMA, and 50 SMA). Entry conditions require a b
Strategy · Pine Script v5 · On the chart
Grail Only Longs
A long-only strategy based on a trailing stop approach, using a slow SMA, medium and fast EMAs, a pin bar test, and optional stochastic and money flow index filters that can read other timeframes.
Repaints
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code186
Settings28inputs
LicenceNone stated
Last update2 years ago6 Apr 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
Exits use a trailing stop plus a hard stop expressed in pips. Inputs include stop distances, indicator periods, filter levels and Pineconnector alert fields for MT4 or MT5. It runs on every tick, so signals and fills can change on the live bar.
- Long entries with SMA, EMA and pin bar rules
- Optional stochastic and MFI filters
- Trailing stop and hard stop in pips
- Pineconnector alert settings
- Calculated on every tick
Details
Published by
Wendigooor on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Candlestick patterns
Markets
Forex
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Stop Loss Trail Points (Pips) | int | 150 | slPoints |
| Stop Loss Trail Offset (Pips) | int | 1 | slOffset |
| Hard Stop Loss (Pips) | int | 100 | slHardPoints |
| Slow SMA (Period) | int | 120 | sma_slow |
| Medm EMA (Period) | int | 72 | ema_medm |
| Fast EMA (Period) | int | 8 | ema_fast |
| Draw smth on chart? | bool | false | plot_everything |
| Pinbar confirmation value | float | 0.3 | pinbarConfirmationValue |
| Use Stochastic as Filter (OB/OS)? | bool | false | useStochasticAsFilter |
| Length for Main Stochastic | int | 14 | len |
| SmoothK for Main Stochastic | int | 3 | smoothK |
| SmoothD for Main Stochastic | int | 3 | smoothD |
Show all 28 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Upper Line Value? (shorts - above line) | int | 30 | upLine |
| Lower Line Value? (longs - below line) | int | 50 | lowLine |
| Use Current Chart Resolution? | bool | true | useCurrentRes |
| Use Different Timeframe? Uncheck Box Above | timeframe | 15 | resCustom |
| Use Different Timeframe MFI? Uncheck Box Above | timeframe | 35 | resCustomMFI |
| Use MFI as 2nd Filter? (current timeframe) | bool | true | useMFI |
| Length | int | 8 | mfiLength |
| OverSold (longs - below line) | int | 40 | mfiOversold |
| OverBought (shorts - above line) | int | 80 | mfiOverbought |
| Pineconnector License ID | string | 12345 | pineconnectorLicenseID |
| Symbol for close alert (MT4/MT5) | string | EURUSD.i | pineconnectorInputSymbol |
| Volume (lots size) | float | 0.4 | pineconnectorVolume |
| Percent K Length | int | 30 | smi_k |
| Percent D Length | int | 11 | smi_d |
| Overbought | int | 20 | smi_ob |
| Oversold | int | -40 | smi_os |
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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