This overlay strategy marks short-term turning points on the price chart and enters SPY option-style trades from them. It plots simple moving averages of highs and lows, draws up and down reversal arrows, and colors bars when a short-term extreme coincides wit
Strategy · Pine Script v5 · On the chart
NinjaView Example 2 / ES 3m Short Only (Triple RED)
This strategy shorts the ES three-minute chart when three consecutive down candles form a triple-red pattern and price is above a Tillson-style T3 average.
Repaints
GitHub stars8on the repository
Pine versionv5runs as is
Lines of code48
Settings4inputs
LicenceNone stated
Last update2 years ago27 Jun 2024
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
The average is six nested EMAs of close, combined with fixed coefficients and a user length defaulting to 100. It enters one short and exits with a four-tick take profit and a sixteen-tick stop, using a 0.25 tick size. Account, ticker, and quantity feed alert text for an external order router. The pattern uses the forming bar, so the signal can change before that bar closes. No long entries are coded.
- Triple red three-candle short pattern
- Tillson-style T3 from nested EMAs
- Short entries only above the T3
- Four-tick profit and sixteen-tick stop
- Account, ticker, and quantity alert text
Details
Published by
NinjaView on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Candlestick patterns, Moving averages, Trend, Scalping
Markets
Indices
Timeframes
M1-M5
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Account Name | string | Sim101 | acct |
| Symbol Ticker | string | ES JUN24 | ticker |
| Quantity | int | 1 | qty |
| T3 | int | 100 | T3 |
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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