Pinbar Strategy

// Strategy trades from Steven Hart (youtube) around an investopedia article
// Uses hammer and star candle
// expands on some of the things we've learned so far by creating a profitable hammer & shooting star strategy!
// Investopedia Video: https://www.youtube.com/watch?v=R7cXkvztdKY

// More for forex markets

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/

// Last Updated: 2nd February 2022
// @version=5
strategy("Pinbar Strategy", shorttitle="PBS", overlay=true)

// Import Zen library
import ZenAndTheArtOfTrading/ZenLibrary/3 as zen

// Strategy Settings
var g_strategy      = "Strategy Settings"
stopMultiplier      = input.float(title="Stop Loss ATR", defval=1.0, group=g_strategy, tooltip="Stop loss multiplier (x ATR)")
rr                  = input.float(title="R:R", defval=1.0, group=g_strategy, tooltip="Risk:Reward profile")
fibLevel            = input.float(title="Fib Level", defval=0.333, group=g_strategy, tooltip="Used to calculate upper/lower third of candle. (For example, setting it to 0.5 will mean hammers must close >= 50% mark of the total candle size)")
// Filter Settings
var g_filter        = "Filter Settings"
atrMinFilterSize    = input.float(title=">= ATR Filter", defval=0.0, minval=0.0, group=g_filter, tooltip="Minimum size of entry candle compared to ATR")
atrMaxFilterSize    = input.float(title="<= ATR Filter", defval=3.0, minval=0.0, group=g_filter, tooltip="Maximum size of entry candle compared to ATR")
emaFilter           = input.int(title="EMA Filter", defval=0, group=g_filter, tooltip="EMA length to filter trades - set to zero to disable")
i_startTime         = input.time(title="Start Date Filter", defval=timestamp("01 Jan 2000 13:30 +0000"), group=g_filter, tooltip="Date & time to begin trading from")
i_endTime           = input.time(title="End Date Filter", defval=timestamp("1 Jan 2099 19:30 +0000"), group=g_filter, tooltip="Date & time to stop trading")

// See if this bar's time happened within date filter
dateFilter = time >= i_startTime and time <= i_endTime

// Get indicator values
atr = ta.atr(14)
ema = ta.ema(close, emaFilter == 0 ? 1 : emaFilter)

// Check EMA Filter
emaFilterLong = emaFilter == 0 or close > ema
emaFilterShort = emaFilter == 0 or close < ema

// Check ATR filter
atrMinFilter = high - low >= (atrMinFilterSize * atr) or atrMinFilterSize == 0.0
atrMaxFilter = high - low <= (atrMaxFilterSize * atr) or atrMaxFilterSize == 0.0
atrFilter = atrMinFilter and atrMaxFilter and not na(atr)

// Determine if we have a valid setup
validHammer = zen.isHammer(fibLevel) and atrFilter and emaFilterLong and dateFilter and close != open
validStar   = zen.isStar(fibLevel) and atrFilter and emaFilterShort and dateFilter and close != open

// Check if we have confirmation of our setup
validLong = validHammer and strategy.position_size == 0 and barstate.isconfirmed
validShort = validStar and strategy.position_size == 0 and barstate.isconfirmed

// Calculate our stops & targets for the current bar
stopSize = atr * stopMultiplier
longStopPrice = low < low[1] ? low - stopSize : low[1] - stopSize
longStopDistance = close - longStopPrice
longTargetPrice = close + (longStopDistance * rr)
shortStopPrice = high > high[1] ? high + stopSize : high[1] + stopSize
shortStopDistance = shortStopPrice - close
shortTargetPrice = close - (shortStopDistance * rr)

// Save trade stop & target if a valid setup is detected
var t_entry = 0.0
var t_stop = 0.0
var t_target = 0.0

// Detect valid long setups & trigger alert
if validLong
    t_entry := close
    t_stop := longStopPrice
    t_target := longTargetPrice
    strategy.entry(id="Long", direction=strategy.long, comment="(SL=" + str.tostring(zen.truncate(zen.toWhole(longStopDistance))) + " pips)")

// Detect valid short setups & trigger alert
if validShort
    t_entry := close
    t_stop := shortStopPrice
    t_target := shortTargetPrice
    strategy.entry(id="Short", direction=strategy.short, comment="(SL=" + str.tostring(zen.truncate(zen.toWhole(shortStopDistance))) + " pips)")

// Exit trades whenever our stop or target is hit
strategy.exit(id="Long Exit", from_entry="Long", limit=t_target, stop=t_stop, when=strategy.position_size > 0)
strategy.exit(id="Short Exit", from_entry="Short", limit=t_target, stop=t_stop, when=strategy.position_size < 0)

// Draw trade data
plot(strategy.position_size != 0 or validLong or validShort ? t_stop : na, title="Trade Stop Price", color=color.red, style=plot.style_linebr)
plot(strategy.position_size != 0 or validLong or validShort ? t_target : na, title="Trade Target Price", color=color.green, style=plot.style_linebr)

// Draw EMA if it's enabled
plot(emaFilter == 0 ? na : ema, color=emaFilterLong ? color.green : color.red, linewidth=2, title="EMA")

// Draw price action setup arrows
plotshape(validLong ? 1 : na, style=shape.triangleup, location=location.belowbar, color=color.green, title="Bullish Setup")
plotshape(validShort ? 1 : na, style=shape.triangledown, location=location.abovebar, color=color.red, title="Bearish Setup")