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 Trailing Stop Strategy
A two-sided strategy that looks for a fan of fast EMA, medium EMA and slow SMA in order, a pin bar candle and a bar piercing one of the averages.
Repaints
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code88
Settings10inputs
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
Grail Trailing Stop Strategy then places a stop order beyond the previous bar high or low. Exits combine a hard stop in pips with a trailing stop, and an equity risk percent and ATR stop multiplier are provided. It calculates on every tick with the bar magnifier on, so intrabar behaviour can differ from bar close.
- EMA and SMA fan trend condition
- Pin bar and average piercing entry
- Stop order entries beyond previous bar
- Hard stop and trailing stop exits
- Equity risk percent and ATR multiplier inputs
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 |
|---|---|---|---|
| Equity Risk (%) | int | 3 | usr_risk |
| Stop Loss (x*ATR, Float) | float | 0.5 | atr_mult |
| Stop Loss Trail Points (Pips) | int | 1 | slPoints |
| Stop Loss Trail Offset (Pips) | int | 1 | slOffset |
| Hard Stop Loss (Pips) | int | 1 | slHardPoints |
| Slow SMA (Period) | int | 50 | sma_slow |
| Medm EMA (Period) | int | 18 | ema_medm |
| Fast EMA (Period) | int | 6 | ema_fast |
| ATR (Period) | int | 14 | atr_valu |
| Draw smth on chart? | bool | false | plot_everything |
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.
Similar Pine Scripts
Mean Reversion Strategy is an overlay strategy that identifies pullbacks using a long-term EMA, RSI, and candlestick patterns. It generates long signals when a bullish engulfing candle forms below the EMA while RSI is oversold, and short signals when a bearish
ESU2023-10M - V1 is an intraday trend-reversal strategy designed for index futures contracts on the price chart. It calculates a 3-period moving average of candle highs and lows alongside specific three-bar price action patterns to detect short-term swing high
This strategy trades the three-candle strike pattern filtered by trend direction and time sessions. It calculates market regime using linear regression and exponential or smoothed moving averages to distinguish between ranging and trending conditions. Risk man
This strategy tracks consecutive bullish and bearish candlestick closes relative to the preceding bar. It enters a long position when price closes higher for a specified number of consecutive bars, and enters a short position when price closes lower for a desi
This strategy executes trades based on candlestick engulfing patterns aligned with a 200-period exponential moving average trend filter. It enters long positions when a bullish engulfing candle follows three consecutive bearish candles while price trades above
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers