Strategy · Pine Script v5 · On the chart

Supertrend + Percentage Target and Stop

by kritarth2121· code credited to Dynamictradingstrategies

This strategy follows Supertrend, with a 10-period ATR and a multiplier of three by default.

View on GitHub

GitHub stars1on the repository
Pine versionv5runs as is
Lines of code74
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago10 Dec 2023

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 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

74 lines of Pine Script v5 from supertrend + tg and sl (1).txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

supertrend + tg and sl (1).txt
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Dynamictradingstrategies

//@version=5
strategy("SUPERTREND + PERCENTAGE TARGET AND PROFIT", overlay = true)


// INPUT CONTROLS 

ATR_L = input.int(title = "ATR_L", defval = 10, minval = 1, maxval = 100, step = 1)
multi = input.float(title = "multi", defval = 3, minval = 1, maxval = 100, step = 0.5)

[supertrend,direction] = ta.supertrend(multi,ATR_L )

//// FOR BUY SIGNAL

LONGSTOP = input.float(title = "LONGSTOP", defval = 0.01, minval = 0.01, maxval = 100, step = 0.01)
TARGET1 = input.float(title = "TARGET1", defval = 0.01, minval = 0.01, maxval = 100, step = 0.01)


//// FOR SELL SETUP 

LONGSTOP_SHORT =input.float(title = "LONGSTOP_SHORT", defval = 0.01, minval = 0.01, maxval = 100, step = 0.01)
TARGET2 = input.float(title = "TARGET2", defval = 0.01, minval = 0.01, maxval = 100, step = 0.01)


///////// 

LONGSTOP_BUY = strategy.position_avg_price *   (1 -  LONGSTOP )
LONGTARGET_BUY = strategy.position_avg_price * (1 +  TARGET1 )

SHORTSTOP_SELL = strategy.position_avg_price *   (1 +  LONGSTOP)
SHORTTARGET_SELL = strategy.position_avg_price * (1 -  TARGET2 )


///// BUY AND SELL 


BUY = ta.crossover(close,supertrend)
SELL = ta.crossunder(close,supertrend)

buyexit = ta.crossunder(close,supertrend)
sellexit = ta.crossover(close,supertrend)

//// strategy 


if strategy.position_size <= 0 
    strategy.entry("long", direction = strategy.long, when = BUY, comment = "B")
    
if strategy.position_size > 0 
    strategy.close("long", when = buyexit, comment = "BE")
    strategy.exit("long", from_entry = "long", stop = LONGSTOP_BUY, limit  = LONGTARGET_BUY  )

if strategy.position_size >= 0 
    strategy.entry("short", direction = strategy.short, when = SELL, comment = "S")
    
    
if strategy.position_size < 0 
    strategy.close("short", when = sellexit, comment = "SE")
    strategy.exit("short", from_entry = "short", stop = SHORTSTOP_SELL, limit  = SHORTTARGET_SELL  )


plot(strategy.position_size > 0 ? LONGSTOP_BUY : na, style = plot.style_linebr, color = color.new(color.red,0))
plot(strategy.position_size > 0 ? LONGTARGET_BUY : na, style = plot.style_linebr, color = color.new(color.green,0))


plot(strategy.position_size < 0 ? SHORTSTOP_SELL : na, style = plot.style_linebr, color = color.new(color.red,0))
plot(strategy.position_size < 0 ? SHORTTARGET_SELL : na, style = plot.style_linebr, color = color.new(color.green,0))




plot(supertrend, color = direction == -1 ? color.new(color.green,0) : color.new(color.red,0))

Overview

Supertrend + Percentage Target and Stop goes long when price crosses above the Supertrend line and short when price crosses below, and also closes on the opposite cross. In addition, each trade has a percentage stop loss and take profit measured from the average entry price, one percent by default, with separate inputs for each side. Stop, target and Supertrend lines are plotted on the chart.

Details

Published by

kritarth2121 on GitHub

Code credit

Dynamictradingstrategies, as written in the script's header

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
ATR_Lint10ATR_L
multifloat3multi
LONGSTOPfloat0.01LONGSTOP
TARGET1float0.01TARGET1
LONGSTOP_SHORTfloat0.01LONGSTOP_SHORT
TARGET2float0.01TARGET2
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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