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
NR7 Range Breakout plots an exponential moving average trend filter alongside visual highlights for range compression and breakout signals directly on the main price chart. Long and short entries require volume confirmation above a moving average threshold and alignment with the EMA filter. Positions are exited using an ATR-based stop loss and a set risk-to-reward ratio, while pending breakouts auto-expire after three bars.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
NR Lookback Period
int
7
nrPeriod
Trend EMA Length
int
50
emaLen
Use Trend Filter
bool
true
useTrend
Volume Confirmation on Breakout
bool
true
volFilter
Volume Multiplier
float
1.3
volMult
Breakout Buffer %
float
0.1
buffer
ATR Length
int
14
atrLen
ATR Multiplier (SL)
float
1.5
atrMult
Risk:Reward
float
2.5
rrRatio
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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