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 v4 · On the chart
Rapid Fire
This strategy draws on the price chart and enters long when the open crosses above the Parabolic SAR and is above a 50-period simple moving average of close.
Repaints
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code15
Settings0inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
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
15 lines of Pine Script v4 from BTC Rapid fire strategy 1M Scalping.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © atakhadivi
//@version=4
strategy("rapid fire", overlay=true)
longCondition = open > sar(0.02,0.02,0.2) and open[1] < sar(0.02,0.02,0.2)[1] and open > sma(close,50)
takeprofit = strategy.position_avg_price * (1 + 0.005)
stopLoss = strategy.position_avg_price * (1 - 0.015)
if (longCondition)
strategy.entry("longEntry", strategy.long, limit = takeprofit, stop = stopLoss)
shortCondition = open < sar(0.02,0.02,0.2) and open[1] > sar(0.02,0.02,0.2)[1] and open < sma(close,50)
take_profit = strategy.position_avg_price * (1 - 0.005)
stop_Loss = strategy.position_avg_price * (1 + 0.015)
if (shortCondition)
strategy.entry("shortEntry", strategy.short, limit = take_profit, stop = stop_Loss)
Expand (18 lines)
Overview
Rapid Fire enters short on the opposite cross below that average. Offset prices of 0.5 percent and 1.5 percent from the average entry are passed as the entry order limit and stop, not as separate exit orders, so no dedicated stop-loss exit is defined. There are no user inputs. The SAR can change on the live bar.
- Parabolic SAR cross entries
- 50-period SMA trend filter
- Long and short market directions
- 0.5 percent and 1.5 percent price offsets
- Price-chart overlay
Details
Published by
hasnocool on GitHub
Code credit
atakhadivi, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, Scalping
Markets
Crypto
Timeframes
M1-M5
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
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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