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
113 lines of Pine Script v5 from strategies/momentum/momentum_combo.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
Momentum Combo Strategy opens a long or a short only when the position is flat and the matching count reaches the minimum confirmation setting, then closes that side when the opposite confluence appears. Oscillator lengths, the confirmation threshold, alert position size, and leverage are adjustable. It is designed for a separate pane. There is no stop loss or take profit; exits depend only on the opposite signal.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
RSI Length
int
14
rsiLength
MACD Fast
int
12
macdFast
MACD Slow
int
26
macdSlow
MACD Signal
int
9
macdSignal
Stochastic Length
int
14
stochLength
Stoch K
int
3
stochK
Stoch D
int
3
stochD
Min Confirmations
int
2
minConfirmations
Leverage
float
5.0
leverageSize
Position Size
float
0.01
positionSize
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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