Sell-Only Strategy

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © karmakarakash659
//
// Sell-only strategy derived from the "Buy/Sell" indicator.
// The buy side is intentionally dropped — only the (reliable) SELL signal is traded, as a short.

//@version=5
strategy("Sell-Only Strategy",
     overlay              = true,
     initial_capital      = 10000,
     default_qty_type     = strategy.percent_of_equity,
     default_qty_value    = 100,
     pyramiding           = 0,
     commission_type      = strategy.commission.percent,
     commission_value     = 0.04,      // adjust to your instrument, or override in Properties tab
     slippage             = 1,
     calc_on_every_tick   = false)

// ============================================================
//  Inputs
// ============================================================
useFastExit = input.bool(true,  "Fast midpoint exit (original logic)", group = "Exits")
useTPSL     = input.bool(true,  "Use fixed Take Profit / Stop Loss",   group = "Exits")
tpPerc      = input.float(1.0,  "Take Profit %", minval = 0, step = 0.1, group = "Exits") / 100.0
slPerc      = input.float(1.0,  "Stop Loss %",   minval = 0, step = 0.1, group = "Exits") / 100.0
graceFrom   = input.int(3, "Fast-exit armed from bar", minval = 0, group = "Exits")
graceTo     = input.int(7, "Fast-exit armed until bar", minval = 1, group = "Exits")

// ============================================================
//  Signal logic (unchanged from the indicator, sell side only)
// ============================================================
bearishEC = close < open[1] and close[1] > open[1]

rsio  = ta.rsi(open,     3)
rsic  = ta.rsi(close,    3)
rsipo = ta.rsi(open[1],  3)
rsipc = ta.rsi(close[1], 3)

rsioverbought = rsio > 70
sellcond      = rsioverbought and rsio > rsipo and rsic < rsipc and bearishEC

// ============================================================
//  Entry — short only
// ============================================================
if sellcond and strategy.position_size == 0
    strategy.entry("Short", strategy.short)

// ============================================================
//  Exit 1 — fixed TP / SL (backtestable, handles intrabar)
//  Short: profit target sits BELOW entry, stop sits ABOVE entry.
// ============================================================
if useTPSL and strategy.position_size < 0
    tpPrice = strategy.position_avg_price * (1.0 - tpPerc)
    slPrice = strategy.position_avg_price * (1.0 + slPerc)
    strategy.exit("TP/SL", from_entry = "Short", limit = tpPrice, stop = slPrice)

// ============================================================
//  Exit 2 — original "fast midpoint" exit.
//  In the indicator this armed 3–7 bars after the signal and
//  fired when the bar midpoint crossed back above the signal price.
//  Here it is expressed against the actual short entry price.
// ============================================================
var float entryRef      = na
var int   entryBarIndex = na

// detect the bar we flipped into a short
if strategy.position_size < 0 and (na(strategy.position_size[1]) or strategy.position_size[1] >= 0)
    entryRef      := strategy.position_avg_price
    entryBarIndex := bar_index

barsSinceEntry = na(entryBarIndex) ? na : bar_index - entryBarIndex
midpoint       = (open + close) / 2.0

fastExit = useFastExit and strategy.position_size < 0 and not na(entryRef)
     and barsSinceEntry >= graceFrom and barsSinceEntry <= graceTo
     and midpoint > entryRef

if fastExit
    strategy.close("Short", comment = "Fast Exit")

// ============================================================
//  Visuals
// ============================================================
plotshape(sellcond, style = shape.labeldown, color = color.red, size = size.tiny,
     title = "Sell Signal", location = location.abovebar, text = "SELL")
plot(strategy.position_size < 0 ? entryRef : na, "Short entry ref", color = color.orange, style = plot.style_linebr)