Smart Money Breakouts strategy: 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

279 lines of Pine Script v5 from 策略/开源分享/Smart Money Breakouts strategy [buou].txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

Smart Money Breakouts strategy [buou].txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © ChartPrime
//@version=5
strategy('Smart Money Breakouts strategy [buou]', shorttitle="Smart Money Breakouts strategy [buou]", overlay=true, precision=2, pyramiding=1, 
 calc_on_every_tick=true, backtest_fill_limits_assumption=1, default_qty_type=strategy.percent_of_equity, default_qty_value = 50, currency=currency.USD, slippage=1, commission_type=strategy.commission.percent,
 commission_value=.03, process_orders_on_close=true, initial_capital=10000, margin_long=100, margin_short=100)

color GREEN           = color.rgb(2, 133, 69)
color TAIL            = color.rgb(20, 141, 154)
color RED             = color.rgb(246, 7, 7)
color _Green          = color.rgb(2, 106, 89)
color OFF             = color.new(color.red,100)
string CORE           =  "➞ Core Settings 🔸"
var array<int> score  = array.new_int(2,0)
//
var float UpdatedHigh = na
var float UpdatedLow  = na
var bool ShortTrade   = false
var bool TradeisON    = false
var bool LongTrade    = false
var int HighIndex     = na
var bool phActive     = false
var bool plActive     = false
var int LowIndex      = na
var bool HBreak       = false
var line tpLine       = na
var label LAB         = na
var float TP          = 0.0
var float SL          = 0.0
int Sync              = bar_index
bool BUY              = false
bool SELL             = false



type Vol
    array<float> Total
    array<float> Green
    array<float> Red
    array<float> SCR

Volume = Vol.new(
     array.new_float(),
     array.new_float(),
     array.new_float(),
     array.new_float()

     )

int period            = input.int(20, 'Length',group = CORE,tooltip = "Swing Length")
bool CandleType      = input.string(title = "Type ➞",
      defval='Wicks',
      options=['Wicks', 'Body'],
      group = CORE,
      tooltip = "Calculation Price : Wicks or Body of the candle")
       == 'Wicks'
float Tar             = input.float(2,"Target ",step = 0.1 , tooltip = "Target Multiplyer 止盈止损用的 Adj * 此值, ADJ 是用atr计算出来的",group = CORE) * 10

float long_num             = input.float(1,"限价开多单系数 ",step = 0.001 , tooltip = "限价开多单，收盘价 * 此值 = 开单价",group = CORE)
float sell_num             = input.float(1,"限价开空单系数 ",step = 0.001 , tooltip = "限价开空单，收盘价 * 此值 = 开单价",group = CORE)
string Linestyle      = input.string('Dashed',
     'Line Style', ['Solid', 'Dashed', 'Dotted'], group=CORE,inline= "Line")

color Bull = input.color(GREEN,"",group=CORE,inline= "Line")
color Bear = input.color(RED,"",group=CORE,inline= "Line")    


emanum = input.int(200, 'EMA Length')
myema = ta.ema(close, emanum)

trendOn = input.bool(false , '是否开启趋势线')
plot(trendOn ? myema : na, color = color.white)

StyleSwitch = switch Linestyle
    'Dashed' => line.style_dashed ,
    'Dotted' => line.style_dotted ,
    => line.style_solid 



method volAdj(int len)=>
    math.min(ta.atr(len) * 0.3, close * (0.3/100)) [20] /2

Adj = volAdj(30)
plot(Adj)
VolCal(Index,Sync) =>
    Bars = math.abs(Index - Sync)
    for i = 0 to Bars -1
        Volume.SCR.push(close[i])

    for i = 0 to Volume.SCR.size() -1

        if Volume.SCR.get(i) > open[i]
            Volume.Green.push(volume[i])

        if Volume.SCR.get(i) < open[i]
            Volume.Red.push(volume[i])

        Volume.Total.push(volume[i])

    GreenRatio = math.round(Volume.Green.sum() / Volume.Total.sum()* 100,2)
    RedRatio = math.round(Volume.Red.sum() / Volume.Total.sum()* 100,2)
    Out = GreenRatio > 55 ? "🟢" : RedRatio > 55 ? "🔴" : "🟡" 
    Out



PH = ta.pivothigh(high, period, period)
PL = ta.pivotlow(low, period, period)
ScrHigh = CandleType ? high : close 
ScrLow = CandleType ? low : close

if ta.change(fixnan(PH)) != 0
    UpdatedHigh := PH
    phActive    := true
    HighIndex   := Sync - period

if ta.change(fixnan(PL)) != 0
    UpdatedLow  := PL
    plActive    := true
    LowIndex    := Sync - period

// LONG
if ScrHigh > UpdatedHigh and phActive
    
    BUY := true
    phActive := false

//Sell
if ScrLow < UpdatedLow and plActive
    
    SELL := true
    plActive := false

// lets Draw

if BUY and not TradeisON
    sign = VolCal(HighIndex,Sync)
    line.new(HighIndex,
         UpdatedHigh,
         Sync,
         UpdatedHigh,
         color=Bull,
         style=StyleSwitch,
         width=2)
    label.new(math.floor(Sync - (Sync - HighIndex) / 2),
         UpdatedHigh,
         not HBreak ? 'CHoCH\n' + sign  : 'BOS\n' + sign,
         color=OFF,
         textcolor=color.white,
         size=size.tiny)
    label.new(Sync,
         low,
         "",
         yloc = yloc.belowbar,
         color = color.lime,
         size = size.small,
         style = label.style_label_up)
    HBreak := true


if SELL and not TradeisON
    sign = VolCal(LowIndex,Sync)
    line.new(LowIndex,
         UpdatedLow,
         Sync,
         UpdatedLow,
         color=Bear,
         style=StyleSwitch,
         width=2)
    label.new(math.floor(Sync - (Sync - LowIndex) / 2),
         UpdatedLow,
         HBreak ? 'CHoCH\n' + sign  : 'BOS\n' + sign,
         color=OFF,
         textcolor=color.white,
         style=label.style_label_up,
         size=size.tiny)
    label.new(Sync,
         low,
         "",
         yloc = yloc.abovebar,
         color =RED,
         size = size.small,
         style = label.style_label_down)
    HBreak := false


Long = BUY and not TradeisON     
Short = SELL and not TradeisON
TradeFire = Long or Short

if Long and not TradeisON
    LongTrade:= true
    ShortTrade:= false
    if trendOn
        if close > myema
            strategy.entry('long',strategy.long, limit = close * long_num)
    else
        strategy.entry('long',strategy.long, limit = close * long_num)

if Short and not TradeisON
    LongTrade:= false
    ShortTrade:= true
    if trendOn
        if close < myema
            strategy.entry('short',strategy.short, limit = close * sell_num)
    else
        strategy.entry('short',strategy.short, limit = close * sell_num)

if true 
    if TradeFire and not TradeisON
        TP := switch
            Long  => (high + (Adj * Tar))
            Short => (low - (Adj * Tar))

        SL := switch
            Long  => low - (Adj * Tar)
            Short => high + (Adj * Tar)
        strategy.exit("平仓", "long",profit=TP,stop = SL, comment_profit ="止盈", comment_loss ="止损")
        strategy.exit("平仓", "short",profit=TP,stop = SL, comment_profit ="止盈", comment_loss ="止损")
        TradeisON:= true

    if TradeisON
        line.set_x2(tpLine,bar_index)
        label.set_x(LAB,bar_index+1)

    if LongTrade and TradeisON
        if high >= TP
            label.set_color(LAB,GREEN)
            score.set(0,score.get(0)+1)
            TradeisON:=false

        if close <= SL
            score.set(1,score.get(1)+1)
            label.set_color(LAB,color.new(RED,70))
            label.set_tooltip(LAB,"Stoploss Hit : "+ str.tostring(math.round_to_mintick(SL)))
            TradeisON:=false


    else if ShortTrade and TradeisON
        if low <= TP 
            label.set_color(LAB,GREEN)
            score.set(0,score.get(0)+1)
            TradeisON:=false
            
        if close >= SL 
            score.set(1,score.get(1)+1)
            label.set_color(LAB,color.new(RED,70))
            label.set_tooltip(LAB,"Stoploss Hit : "+ str.tostring(math.round_to_mintick(SL)))
            TradeisON:=false

BearCon = TradeisON and ShortTrade
BullCon = TradeisON and LongTrade

barcolor(BearCon ? RED : BullCon ? _Green : color.rgb(52, 52, 54) )

plotcandle(open, high, low, close, color = BearCon ? RED : BullCon ? _Green : color.rgb(52, 52, 54),
     wickcolor = color.rgb(103, 99, 99),bordercolor = BearCon ? RED : BullCon ? _Green : color.rgb(52, 52, 54))

bgcolor(BearCon ? color.rgb(136, 4, 15, 90) : BullCon ? color.rgb(8, 191, 158,90) : na )

// where is my table ?!
var tb = table.new(position.top_right, 3, 3,
  bgcolor= color.new(color.gray,80))


if barstate.islast

    table.cell(tb, 0, 0, "Winning Trades"
      , text_color = #a3a3b1)
    table.cell(tb, 1, 0, str.tostring(score.get(0))
      , text_color = #08c09b)
    table.cell(tb, 0, 1, "Losing Trades"
      , text_color = #a3a3b1)
    table.cell(tb, 1, 1, str.tostring(score.get(1))
      , text_color = #cd0202)


//-- END --

Overview

Smart Money Breakouts strategy calculates candle wicks or bodies, applies ATR-based adjustment for targets, and supports limit-order entries with coefficients for longs and shorts. An optional EMA trend line can be plotted. The main settings control swing length, candle type, target multiplier, line style, colors, and EMA length. It signals entries on confirmed breakouts with pyramiding of one and uses a percentage equity position sizing. The script repaints on the live bar and draws target lines and labels on the chart.

Volume Breakout Detection
Swing Length Filter
Limit Order Coefficients
ATR Target Adjustment
Optional EMA Trend

Details

Published by

wynnforthework on GitHub

Code credit

ChartPrime, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)
The strategy can add several entries in the same direction

File

策略/开源分享/Smart Money Breakouts strategy [buou].txt

Repository

github.com/wynnforthework/quant-strategies-knowledge. 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
Length	`int`	`20`	`period`
Type ➞	`string`	`Wicks`	`CandleType`
Target	`float`	`2`	`Tar`
限价开多单系数	`float`	`1`	`long_num`
限价开空单系数	`float`	`1`	`sell_num`
Line Style	`string`	`Dashed`	`Linestyle`
Bull	`color`	`GREEN`	`Bull`
Bear	`color`	`RED`	`Bear`
EMA Length	`int`	`200`	`emanum`
是否开启趋势线	`bool`	`false`	`trendOn`

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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