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
A strategy on the price chart that combines RSI zones, MACD behaviour and long rolling highest and lowest levels to open and close positions.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code309
Settings15inputs
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
Inputs set the RSI thresholds for opening, adding and closing, the lookback of the two rolling ranges, a maximum number of adds, a minimum percentage gain before closing and a trailing stop percentage. It can add to positions several times. A code comment says it suits very long timeframes and struggles with shorts and heavy dips.
- RSI zone rules for open, add and close
- Rolling high and low ranges plotted
- Up to a set number of position adds
- Trailing stop and minimum close percentage
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 | 18 | daysBackMax |
| Hi Low Long | int | 420 | hiLowSlow |
| Hi Low Super Long | int | 7200 | hiLowSuperSlow |
| Open Long Zone RSI | int | 54 | openLongZoneRsi |
| Open Short Zone RSI | int | 30 | openShortZoneRsi |
| Add Long Zone RSI | int | 46 | addLongZoneRsi |
| Add Short Zone RSI | int | 40 | addShortZoneRsi |
| Close Long Zone RSI | int | 73 | rsiCloseLongZone |
| Close Short Zone RSI | int | 75 | rsiCloseShortZone |
| Max Adds | int | 4 | maxAdds |
| Close Long Min (%) | float | 1.6 | closeLongPerc |
| Long Trail Stop (%) | float | 6.2 | longTrailPerc |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Add % Diff | float | 0.16 | addPercDiff |
| Show Slow | bool | true | showSlow |
| Fast Macd Longs | bool | true | allowFastMacdLongs |
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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