This trend-following strategy executes a classic Donchian channel breakout system designed to cross-validate backtest results against external framework benchmarks. It triggers a long entry when the closing price breaks above the highest high of the prior entr
Strategy · Pine Script v5 · On the chart
Swing Trade
This strategy plots three swing lines on the price chart.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code30
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update3 years ago2 Aug 2023
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
30 lines of Pine Script v5 from Strategies/Swing_Trade.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
//Run the following Script on PINE EDITOR or any platform supporting Pine Script
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © might-tree
//@version=5
strategy("Swing Trade", overlay=true, margin_long=100, margin_short=100)
small_high = if(high[0]>high[1])
high
small_low = if(low[0]<low[1])
low
plot(high[0]>high[1]? small_high : small_low, color=#48b3ff, linewidth=2, title="Small Swing")
medium_high = if(high[0]>high[1] and high[1] > high[2])
high
medium_low = if(low[0]<low[1] and low[1] < low[2])
low
plot(high[0]>high[1]? medium_high : medium_low, color=color.rgb(241, 210, 98), linewidth=2, title="Medium Swing")
large_high = if(high[0]>high[1] and high[1] > high[2] and high[2] > high[3])
high
large_low = if(low[0]<low[1] and low[1] < low[2] and low[2] < low[3])
low
plot(high[0]>high[1]? large_high : large_low, color=color.rgb(250, 72, 226), linewidth=2, title="Large Swing")
Overview
A small swing marks the current high after one higher high, or the current low after one lower low. A medium swing requires two consecutive rising highs or falling lows, and a large swing requires three. The lines use fixed blue, gold, and magenta colors, and there are no user inputs. Although declared as a strategy, it never opens or closes positions and has no stop loss, take profit, or position sizing.
- Small, medium, and large swing lines
- Consecutive higher-high detection
- Consecutive lower-low detection
- Price-chart overlay
- No entry or exit orders
Details
Published by
might-tree on GitHub
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
H4 and above
Risk Notes
- The strategy enters trades without a stop loss
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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