Minervini VCP + SmartMCDX Backtest: Free TradingView Strategy (Pine Script)

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

Minervini VCP + SmartMCDX Backtest enters long positions when price breaks above base resistance under favorable benchmark regime and relative strength conditions. Risk management incorporates an ATR-based stop loss, break-even adjustments, two tiered take-profit targets, and a 21-period exponential moving average trailing stop. User settings configure contraction thresholds, volume multipliers, and benchmark filters. The script draws directly on the price chart and depends on benchmark data feeds.

ATR-based dynamic stop loss
Volume surge breakout confirmation
Market regime and relative strength filter
Two-tier partial profit taking targets
21-EMA trailing stop for runner position

Details

Published by

kevinesk on GitHub

Type

Strategy, Pine Script v6

Draws

On the price chart

Markets

Stocks

Timeframes

H4 and above

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.

File

Minervini VCP + SmartMCDX Backtest/Minervini VCP + SmartMCDX Backtest-v7.txt

Repository

github.com/kevinesk/Master-Share-Trading-System. 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
Require Full TPR (7/7) for Entry	`bool`	`true`	`req_tpr`
Require VCP Squeeze for Entry	`bool`	`false`	`req_vcp`
Require Volume Surge on Breakout	`bool`	`true`	`req_vol_surge`
Volume Surge Multiplier	`float`	`1.5`	`vol_mult`
[v7] Breakout Buffer % Above Line	`float`	`0.3`	`bo_buffer_pct`
[v7] Use ATR-Based Stop Loss	`bool`	`true`	`use_atr_stop`
[v7] ATR Stop Multiplier	`float`	`2.0`	`atr_sl_mult`
Fallback Hard Stop Loss %	`float`	`4.5`	`sl_pct`
Take Partial Profit (Sell 50% at TP1)	`bool`	`true`	`use_partial_tp`
TP1 Target %	`float`	`5.0`	`partial_tp_pct`
[v7] Runner Limit at TP2	`bool`	`true`	`use_partial_tp2`
[v7] TP2 Target %	`float`	`10.0`	`partial_tp2_pct`

Show all 40 settings

Setting	Type	Default	Variable
Move Stop to Break-Even	`bool`	`true`	`use_breakeven`
Break-Even Trigger %	`float`	`4.0`	`be_trigger_pct`
Use 21-EMA Trailing Stop for Runner	`bool`	`true`	`use_trail`
Activate Trail After % Profit	`float`	`3.0`	`trail_activation`
[v7] Min Base Duration (Bars)	`int`	`15`	`min_base_bars`
[v7] Require Min VCP Contractions	`bool`	`true`	`req_contractions`
[v7] Min Contractions in Base	`int`	`2`	`min_contractions`
Require Banker for Entry	`bool`	`false`	`use_mcdx_entry`
Min Banker % for Entry	`float`	`0.0`	`mcdx_entry_val`
Smart Exit: Sell if Banker Drops	`bool`	`false`	`use_mcdx_exit`
Exit Danger Threshold %	`float`	`0.0`	`mcdx_exit_val`
[v7] Require Bull Market (SPY > 200 SMA)	`bool`	`true`	`use_mkt_regime`
[v7] Require Stock Outperforms SPY	`bool`	`true`	`use_rs_filter`
[v7] RS Lookback Period (Bars)	`int`	`63`	`rs_period`
Benchmark Symbol	`symbol`	`SPY`	`bm_sym`
21 EMA Length	`int`	`21`	`len_ema21`
50 SMA Length	`int`	`50`	`len_sma50`
150 SMA Length	`int`	`150`	`len_sma150`
200 SMA Length	`int`	`200`	`len_sma200`
21 EMA Color	`color`	`color.new(color.yellow, 50)`	`c_ema21`
50 SMA Color	`color`	`color.blue`	`c_sma50`
150 SMA Color	`color`	`color.orange`	`c_sma150`
200 SMA Color	`color`	`color.red`	`c_sma200`
Table Position	`string`	`Top Right`	`table_pos_input`
Table Size	`string`	`Small`	`table_size_input`
H1 Lookback (Bars)	`int`	`21`	`h1_lookback`
Sub-High Left Bars	`int`	`3`	`h_pivot_left`
Sub-High Right Bars	`int`	`3`	`h_pivot_right`

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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