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
When an active position drops below a designated percentage threshold, the strategy automatically adds to the trade using a customizable martingale multiplier to scale down the average entry price. Trades are closed when the total position hits the specified percentage take-profit target. Users can customize position sizing, step drop percentages, multiplier values, and backtesting date ranges. Note that this strategy utilizes heavy pyramiding and does not incorporate a stop loss.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
price
source
close
price
Fixed position size ( Unchecked for percent of initial capital )
bool
false
fixed_position_size_bool
Start Position Size ( Fixed or Percent )
float
10.0
start_position_size
Start Position Logic
string
MACD Line > 0
first_position_logic
Take Profit Percent
float
5.0
take_profit_percent
Start Martingale if price drop with this Percent
float
10.0
martingale_percent
Martingale Multiplier
float
2.0
martingale_mult
Trade direction
string
Long Only
trade_side
use_date_range
bool
true
use_date_range
From Year
int
2018
FromYear
From Month
int
1
FromMonth
From Day
int
1
FromDay
Show all 15 settings
Setting
Type
Default
Variable
To Year
int
9999
ToYear
To Month
int
1
ToMonth
To Day
int
1
ToDay
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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