Exceeded Candle [Alorse] is a mean-reversion strategy that identifies candlestick engulfing patterns combined with Bollinger Bands filters. It enters a long position when a green candle surpasses the body of the previous red candle while price is below the mid
Strategy · Pine Script v6 · On the chart
Super Negative R:R Wick Strategy
This strategy identifies trade opportunities based on candlestick wick imbalances relative to the Average True Range.
Repaints
GitHub stars218on the repository
Pine versionv6current
Lines of code340
Settings11inputs
LicenceNone stated
Last update3 months ago23 Jul 2026
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
Super Negative R:R Wick Strategy enters positions when candle wicks exceed defined thresholds and filters out doji candles using a minimum body ATR requirement. Exits are handled through fixed monetary stop-loss and take-profit targets, configured by default with an asymmetrical, negative risk-to-reward ratio. Key inputs configure the dollar risk and reward amounts, wick ratio, and ATR parameters. Signals and metrics overlay directly on the price chart, calculating on every tick.
- Wick imbalance detection based on ATR filters
- Configurable dollar-based stop-loss and take-profit levels
- Minimum candle body filter to eliminate doji candles
- On-chart metrics table and visual trade entry markers
- Intra-bar tick calculation support
Details
Published by
TradersPost on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Candlestick patterns, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Stop Loss Amount ($) | float | 1000 | riskAmount |
| Take Profit Amount ($) | float | 300 | rewardAmount |
| ATR Length | int | 14 | atrLength |
| Wick Ratio Threshold | float | 2.0 | wickRatioThreshold |
| Min Body Size (ATR) | float | 0.1 | minBodyAtr |
| Show Entry Signals | bool | true | showSignals |
| Show ATR Line | bool | true | showAtr |
| Show Metrics Table | bool | true | showMetricsTable |
| Bullish Color | color | color.new(#26a69a, 0) | bullColor |
| Bearish Color | color | color.new(#ef5350, 0) | bearColor |
| ATR Color | color | color.new(#2196F3, 0) | atrColor |
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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