Sandwich: Free TradingView Strategy (Pine Script)

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

46 lines of Pine Script v4 from scripts/sandwich.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

sandwich.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © kat3samsin

//@version=4
strategy("Sandwich", overlay=false, process_orders_on_close=true)

//rsi
rsiPeriod = input(14, title="RSI", minval=1)
_rsi = rsi(close, rsiPeriod)

//ALMA
source = close
windowsize = input(title="Window Size", type=input.integer, defval=15)
ALMAoffset = input(title="ALMA Offset", type=input.float, defval=0.85)
sigma = input(title="Sigma", type=input.float, defval=6)
ALMA15 = alma(source, windowsize, ALMAoffset, sigma)

// chop28
chopPeriod = input(28, title="CHOP", minval=1)
ci = 100 * log10(sum(atr(1), chopPeriod) / (highest(chopPeriod) - lowest(chopPeriod))) / log10(chopPeriod)

//stochastics
periodK = input(14, title="K", minval=1)
periodD = input(3, title="D", minval=1)
smoothK = input(3, title="Smooth", minval=1)
k = sma(stoch(close, high, low, periodK), smoothK)
d = sma(k, periodD)

//condition
stochKSandwich = k <= _rsi and k >= ci
stochDSandwich = d <= _rsi and d >= ci
stochIsUp = k > d
sandwichEntry = _rsi > ci and (stochKSandwich and stochDSandwich) and stochIsUp
sandwichExit = close < ALMA15

//entry/exit
strategy.entry(id="SandwichEntry", long = true, qty = strategy.equity/close, when = sandwichEntry)
strategy.close(id="SandwichEntry", when = sandwichExit)

//plots
plotchar(sandwichEntry, "SANDWICH", "🔼", location.top)

plot(_rsi, color=color.green, linewidth=2)
plot(ci, color=color.red, linewidth=2)
plot(k, color=color.blue)
plot(d, color=color.orange)

Overview

Sandwich plots RSI, Choppiness Index (CI), Stochastic K, and D in a separate pane. Long entries trigger when RSI is above CI, both Stochastic lines fall between CI and RSI, and K exceeds D. Position size uses equity divided by close price. Exits occur when close crosses below ALMA15. Settings control periods for RSI, ALMA, CHOP, and Stochastic. It provides entry signals only with no stop loss or take profit.

RSI momentum filter
ALMA exit signal
Stochastic confirmation
Chop volatility measure
Equity-based position sizing

Details

Published by

kat3samsin on GitHub

Type

Strategy, Pine Script v4

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

The strategy enters trades without a stop loss

File

scripts/sandwich.pine

Repository

github.com/kat3samsin/TradingStrategies. 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
RSI	`int`	`14`	`rsiPeriod`
Window Size	`int`	`15`	`windowsize`
ALMA Offset	`float`	`0.85`	`ALMAoffset`
Sigma	`float`	`6`	`sigma`
CHOP	`int`	`28`	`chopPeriod`
K	`int`	`14`	`periodK`
D	`int`	`3`	`periodD`
Smooth	`int`	`3`	`smoothK`

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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