This strategy plots running pivot highs as red R circles and pivot lows as blue S circles directly on the price chart. It computes an EMA 3 and a Cto trend line from close prices, then generates long signals on upward EMA-Cto crossovers combined with price pos
Strategy · Pine Script v6 · On the chart
PF probe 52 - stop entry cancel
This strategy compares an 8-period EMA with a 21-period EMA on the price chart.
Repaints
GitHub stars1on the repository
Pine versionv6current
Lines of code35
Settings0inputs
LicenceApache-2.0
Last update5 days ago23 Oct 2026
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
35 lines of Pine Script v6 from validation/order-stop-entry-cancel-opposite-01/strategy.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is licensed under Apache-2.0
// SPDX-License-Identifier: Apache-2.0
// © PineForge contributors 2026
//
// PF probe 52 - stop entry plus opposite cancel
//
// Purpose: isolate the Parabolic SAR pattern of placing one stop entry and
// cancelling the opposite pending id on confirmed bars.
// TV setup: 15m chart, same symbol/window as data/ohlcv_ETH-USDT-USDT_15m.csv.
// Export TradingView "List of trades" to trades.csv in this folder.
//@version=6
strategy("PF probe 52 - stop entry cancel", shorttitle="PF_P52_CANCEL", overlay=true,
initial_capital=1000000,
commission_type=strategy.commission.percent, commission_value=0, slippage=0,
default_qty_type=strategy.fixed, default_qty_value=1, pyramiding=1,
process_orders_on_close=false)
fast = ta.ema(close, 8)
slow = ta.ema(close, 21)
longStop = high[1]
shortStop = low[1]
if fast > slow
strategy.entry("LE", strategy.long, stop=longStop, comment="live long stop")
strategy.cancel("SE")
else
strategy.entry("SE", strategy.short, stop=shortStop, comment="live short stop")
strategy.cancel("LE")
if strategy.position_size > 0 and fast < slow
strategy.close("LE", comment="flip flat long")
if strategy.position_size < 0 and fast > slow
strategy.close("SE", comment="flip flat short")
Overview
When the fast average is above the slow average it places a long stop at the prior bar high and cancels the pending short; otherwise it places a short stop at the prior bar low and cancels the pending long. An open long is closed when the fast average falls below the slow average, and an open short is closed on the opposite cross. Quantity is fixed at one unit. There is no stop loss. Entries can change on the live bar because the comparison uses the forming close.
- EMA 8 versus EMA 21 filter
- Stop entry at prior high or low
- Cancel of the opposite pending order
- Close on EMA cross against the position
- Fixed quantity of one unit
Details
Published by
pineforge-4pass on GitHub
Code credit
PineForge contributors 2026, as written in the script's header
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Moving averages, Breakout
Markets
Crypto
Timeframes
M15-H1
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingparitypine-scriptpinescriptquantitative-financetest-corpustradingview
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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