The STRG One Bar Pursuit strategy identifies single-bar momentum reversals by monitoring shifts between bullish and bearish candlesticks starting from the year 2024.
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
59 lines of Pine Script v5 from STRG One Bar Pursuit.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
STRG One Bar Pursuit enters a long position when a bullish candle follows a bearish candle and enters a short position when a bearish candle follows a bullish candle. Exits rely on dynamic Average True Range (ATR) stop-loss levels alongside immediate position closure upon detecting an opposing candle. Settings allow users to adjust the ATR length, ATR entry multiplier, and ATR stop multiplier.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
ATR Length
int
14
atrLength
ATR Multiplier for Entry
float
1
atrMultiplierEntry
ATR Multiplier for Stop
float
1
atrMultiplierStop
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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