This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
Strategy · Pine Script v5 · On the chart
Startegy
This strategy draws on the price chart and sizes positions from account equity, a risk percent, and a leverage multiplier.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code983
Settings16inputs
LicenceNone stated
Last update1 year ago11 Dec 2024
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
Startegy tracks long and short stops, pending add-on entries, limit and stop order offsets, and a percentage profit target. Settings change linear-regression length, standard-deviation band mode, fair-value-gap colors, and mitigation-level display. It requests prior one-hour, four-hour, eight-hour, daily, and weekly highs, lows, and closes. The excerpt does not show the complete entry conditions.
- Equity-based risk percent sizing
- Limit and stop percentage offsets
- Percentage profit target
- Fair value gap color inputs
- Higher-timeframe high and low requests
Details
Published by
orenkats on GitHub
Type
Draws
On the price chart
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Risk % | float | 5 | riskPercent |
| Levrage | float | 10 | leverageMultiplier |
| Percentage Offset for Limit Orders | float | 0.02 | percentOffset |
| Percentage Offset for Stop Orders | float | 0.025 | percentOffsetStop |
| Profit Target (%) | float | 4 | TPPercent |
| Linear Regression Length | int | 50 | len |
| Bands Calculation Mode | string | Standard Deviation | calcModeInput |
| Threshold % | float | 0.0 | thresholdPer |
| Auto | bool | false | auto |
| Unmitigated Levels | int | 0 | showLast |
| Mitigation Levels | bool | false | mitigationLevels |
| Timeframe | timeframe | | tf |
Show all 16 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Extend | int | 500 | extend |
| Dynamic | bool | false | dynamic |
| Bullish FVG | color | #08998134 | bullCss |
| Bearish FVG | color | #f2364625 | bearCss |
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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