This strategy plots a comparative relative strength line against a benchmark symbol in a separate pane. It calculates price and volume simple moving averages alongside a multi-period highest high. Long trades enter using full equity when price exceeds its movi
Strategy · Pine Script v5 · Own pane
My Custom Strategy 2
This strategy calculates a 20-period volume-weighted moving average of the low, a 200-period Hull moving average of the high, and 25-period highest close values.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code24
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update3 years ago2 Aug 2023
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
24 lines of Pine Script v5 from Custom_Strategies/My_Strategy_2.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
//Run the following Script on PINE EDITOR or any platform supporting Pine Script
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © might-tree
//@version=5
strategy("My Custom Strategy 2", overlay=false, margin_long=100, margin_short=100)
my_vwma=ta.vwma(low,20)
my_hma=ta.hma(high,200)
highestHigh = ta.highest(close, 25)[1]
lowestLow = ta.lowest(close, 25)[1]
randomPoint = (highestHigh + lowestLow)/5
if high > highestHigh and close>my_vwma and close>my_hma
strategy.entry("Enter Long", strategy.long)
if ta.crossunder(low, close)
strategy.close("Enter Long", comment="Exit Long")
plot(my_vwma, color=color.green)
plot(my_hma, color=color.red)
plot(close, color=color.blue)
Overview
My Custom Strategy 2 enters a long position when the high breaks above the previous highest close while the close remains above both moving averages. It exits positions when the low crosses under the close. The script draws the two moving averages and the close price in a separate pane below the chart. It contains no adjustable inputs, lacks predefined stop loss or take profit orders, and does not overlay directly on price bars.
- Volume-weighted moving average filter
- Hull moving average trend baseline
- Rolling highest close breakout trigger
- Separate pane line plots
Details
Published by
might-tree on GitHub
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
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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