PaperHands Strategy: 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

PaperHands Strategy executes long and short entries, re-entries, and signal-based exits with risk management rules. Position exits support fixed-tick or ATR-based stop-loss and take-profit targets, trailing stops, break-even offsets, and session-based position flattening. Key settings configure order execution, session time windows, blackout periods, and daily loss/profit thresholds.

Fixed-tick and ATR-based take-profit and stop-loss targets
Optional trailing stop and break-even triggers
Session time window and blackout period position flattening
Configurable signal filtering and session profit/loss thresholds

Details

Published by

lunarticktrading on GitHub

Type

Strategy, Pine Script v6

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

M1-M5, M15-H1

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

PaperHands Strategy.txt

Repository

github.com/lunarticktrading/TradingView. 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
Take-Profit Type	`enum`	`TakeProfitType.None`	`tpType`
Take-Profit Fixed Ticks	`int`	`20`	`tpFixedTicks`
Take-Profit ATR Multiple	`float`	`3`	`tpATRMultiple`
Stop-Loss Type	`enum`	`StopLossType.Fixed`	`slType`
Stop-Loss Fixed Ticks	`int`	`10`	`slFixedTicks`
Stop-Loss ATR Multiple	`float`	`1.5`	`slATRMultiple`
Enable Trailing Stop-Loss	`bool`	`false`	`slEnableTrailing`
Trailing Stop-Loss Trigger	`int`	`20`	`slTrailingTriggerTicks`
Trailing Stop-Loss Offset	`int`	`20`	`slTrailingOffsetTicks`
Enable Break-Even Stop-Loss	`bool`	`false`	`slEnableBreakEven`
Break-Even Stop-Loss Trigger	`int`	`10`	`slBreakEvenTriggerTicks`
Break-Even Stop-Loss Offset	`int`	`1`	`slBreakEvenOffsetTicks`

Show all 40 settings

Setting	Type	Default	Variable
Flatten position at end of Trading Time Window	`bool`	`false`	`enableTradingTimeWindowFlatten`
Flatten position at start of Blackout Time Windows	`bool`	`false`	`enableBlackoutTimeWindowFlatten`
ATR Length	`int`	`14`	`atrLen`
Session Profit Threshold	`int`	`0`	`sessionProfitThreshold`
Session Loss Threshold	`int`	`0`	`sessionLossThreshold`
Enter LONG	`bool`	`true`	`showEnterLongSignals`
Re-enter LONG	`bool`	`true`	`showReenterLongSignals`
Exit LONG	`bool`	`true`	`showExitLongSignals`
Enter SHORT	`bool`	`true`	`showEnterShortSignals`
Re-enter SHORT	`bool`	`true`	`showReenterShortSignals`
Exit SHORT	`bool`	`true`	`showExitShortSignals`
Restrict signals to the specified Trading Time Window	`bool`	`false`	`useSignalsTradingTimeWindow`
Trading Time Window	`session`	`0945-1530:23456`	`signalsTradingTimeWindow`
Prevent signals during the specified Blackout Time Window 1	`bool`	`false`	`useSignalsBlackoutTimeWindow1`
Blackout Time Window 1	`session`	`0915-0945:23456`	`signalsBlackoutTimeWindow1`
Prevent signals during the specified Blackout Time Window 2	`bool`	`false`	`useSignalsBlackoutTimeWindow2`
Blackout Time Window 2	`session`	`1200-1300:23456`	`signalsBlackoutTimeWindow2`
Allow Repainting	`bool`	`false`	`allowSignalRepainting`
Entry Signal Offset	`int`	`12`	`entrySignalOffset`
Exit Signal Offset	`int`	`4`	`exitSignalOffset`
Real candle correct color	`bool`	`false`	`useEntryConfluence1`
Heikin-Ashi candle correct color	`bool`	`false`	`useEntryConfluence2`
Heikin-Ashi dot correct color	`bool`	`false`	`useEntryConfluence3`
Heikin-Ashi candle has flat bottom/top	`bool`	`false`	`useEntryConfluence4`
Heikin-Ashi candle is not touching EMA Cloud	`bool`	`false`	`useEntryConfluence5`
Matching EMA Cloud trend	`bool`	`false`	`useEntryConfluence6`
Widening EMA Cloud	`bool`	`false`	`useEntryConfluence7`
Price correct side of MA1	`bool`	`false`	`useEntryConfluence8`

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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