Greeffer BB Strategy: Free TradingView Strategy (Pine Script)

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

27 lines of Pine Script v4 from greeffer-bb-strategy-0.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

greeffer-bb-strategy-0.pine

//@version=4
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Greeffer
// 04-11-2020: 5.7% profit in backtests trading BTCUSDTPERP on 1m time frame (no leverage)

strategy("Greeffer BB Strategy", "Greeffer", false, format=format.price, scale=scale.right, precision=2, pyramiding=11, default_qty_type=strategy.percent_of_equity, default_qty_value=11, initial_capital=100000, currency=currency.USD, commission_type=strategy.commission.percent, commission_value=0.075, process_orders_on_close=true)

source = close
length = input(20, minval=1)
mult = input(2.0, minval=0.001, maxval=50)

basis = sma(source, length)
dev = mult * stdev(source, length)

upper = basis + dev
lower = basis - dev

if (crossover(source, upper))
    strategy.entry("sell", strategy.short, comment="sell", when = rsi(close, 14) > 70)
    strategy.close("sell", when= rsi(close, 14) < 30, qty_percent = 100, comment = "close sell 50%")
if (crossunder(source, lower))
    strategy.entry("buy", strategy.long, oca_name="BollingerBands", comment="buy", when = rsi(close, 14) > 30)
    strategy.close("buy", when = rsi(close, 14) > 70, qty_percent = 100, comment = "close buy 50%")
//strategy.risk.max_drawdown(3, strategy.percent_of_equity) // set maximum drawdown to 50% of maximum equity
//strategy.close_all(when= , comment="close all")

plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)

Overview

Greeffer BB Strategy generates long and short signals when price crosses the upper and lower bands respectively. Entries are filtered with RSI(14) conditions and exits occur when RSI crosses opposite thresholds. The strategy supports pyramiding with equity-based position sizing and commissions. Equity curve is plotted in a separate pane. It repaints on the live bar and has no stop loss.

Bollinger Bands
RSI filter
mean reversion
pyramiding
equity curve

Details

Published by

SammyEnigma on GitHub

Code credit

Greeffer, as written in the script's header

Type

Strategy, Pine Script v4

Draws

Separate pane below the chart

Markets

Crypto

Timeframes

M1-M5

Risk Notes

Signals can change on the live bar or after it closes (repainting)
The strategy can add several entries in the same direction
The strategy enters trades without a stop loss

File

greeffer-bb-strategy-0.pine

Repository

github.com/SammyEnigma/pine-scripts. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
length	`int`	`20`	`length`
mult	`float`	`2.0`	`mult`

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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