This strategy overlays the price chart and looks for VWAP pullbacks. It goes long when a short SMA crosses above VWAP after RSI has been oversold within ten bars, and short on the opposite cross after RSI has been overbought. Optional Minervini-style moving-av
Strategy · Pine Script v4 · On the chart
SlimTrades 2h
SlimTrades 2h is an intraday strategy overlaying short-term high and low price channels alongside momentum measurements from MACD and RSI.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code112
Settings4inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
SlimTrades 2h tracks local highs and lows over a user-defined lookback period, plotting them directly on the price chart. The script incorporates dynamic percentage-based trailing stop losses for both long and short positions to manage trade risk. Users can adjust the channel lookback length, trailing stop loss percentages, and a custom time-window filter for backtesting.
- Percentage-based trailing stop loss
- Highest high and lowest low price channels
- MACD and RSI momentum turning point detection
- Time window backtesting filter
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 21 | daysBackMax |
| Hi Low Short | int | 4 | hiLowFast |
| Trail Long Loss (%) | float | 4 | longTrailPerc |
| Trail Short Loss (%) | float | 4 | shortTrailPerc |
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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