This strategy plots on the price chart and enters when three smoothed moving averages are aligned, RSI is on the matching side of 50, and a Williams fractal appears. An upward stack with RSI above 50 and a down fractal opens a long; the opposite setup opens a
Strategy · Pine Script v4 · On the chart
SlimTrades 5m Longs Only
A long-focused strategy on the price chart for 5 minute data.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code211
Settings12inputs
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 5m Longs Only draws rolling highest and lowest levels over two lookbacks and uses RSI zones, with MACD and RSI history, to decide when to buy and when to close. Inputs set the RSI open and close zones, a minimum percentage gain for closing, a long trailing stop percentage, a fast-open option and a days-back window. The long stop value is computed from the average entry price. Size is a fixed cash amount.
- Rolling high and low levels drawn
- RSI open and close zone inputs
- Long trailing stop percentage
- Fast open option for long entries
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 | 60 | daysBackMax |
| Hi Low Slow | int | 65 | hiLowSlow |
| Hi Low Super Slow | int | 196 | hiLowSuperSlow |
| Buy Long Zone RSI | int | 50 | buyLongZoneRsi |
| Close Long Zone RSI | int | 65 | rsiCloseLongZone |
| Buy Short Zone RSI | int | 32 | buyShortZoneRsi |
| Buy Short Zone RSI | int | 72 | rsiCloseShortZone |
| Close Long Zone Min (%) | float | 1.4 | closeLongZonePerc |
| Close Short Zone Min (%) | float | 1 | closeShortZonePerc |
| Long Trail Stop (%) | float | 3.6 | longTrailPerc |
| Fast Open Long | bool | true | fastOpenLong |
| Show Slow | bool | true | showSlow |
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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