TN OR Magnet: Free TradingView Strategy (Pine Script)

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

Setup A follows drift from the range with a retest, and a conservative Setup B uses breakout plus retest. Filters skip narrow-range days and large gaps, with an optional 200 EMA check. It sizes by risk percentage, uses an ATR stop, limits daily losses and closes positions at a set time.

Configurable opening range window
Drift and breakout retest setups
NR7 and gap day filters
ATR stop with daily loss limit
Forced close time

Details

Published by

raybird on GitHub

Type

Strategy, Pine Script v6

Draws

On the price chart

Markets

Indices

Timeframes

M1-M5, M15-H1

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.

File

strategies/tn_opening_range_magnet_v6.pine

Repository

github.com/raybird/pine-trading-strategies. See its other scripts in the library

Settings

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

Setting	Type	Default	Variable
Timezone	`string`	`America/New_York`	`tzID`
Range Start Hour (ET)	`int`	`9`	`rangeStartH`
Range Start Minute	`int`	`30`	`rangeStartM`
Range Duration (minutes)	`int`	`5`	`rangeDuration`
Trade Window Start Hour (ET)	`int`	`9`	`tradeWindowStartH`
Trade Window Start Minute	`int`	`36`	`tradeWindowStartM`
Trade Window End Hour (ET)	`int`	`11`	`tradeWindowEndH`
Trade Window End Minute	`int`	`0`	`tradeWindowEndM`
Force Close Hour (ET)	`int`	`16`	`forceCloseH`
Force Close Minute	`int`	`0`	`forceCloseM`
Setup A: Magnet Drift + Retest	`bool`	`true`	`enableSetupA`
Setup B: Breakout + Retest (Conservative)	`bool`	`false`	`enableSetupB`

Show all 23 settings

Setting	Type	Default	Variable
Min Drift from Magnet (%)	`float`	`0.02`	`minDriftPct`
Confluence Min Drift (%)	`float`	`0.10`	`confMinDriftPct`
Skip NR7 Days	`bool`	`true`	`useNR7`
Skip Large Gap Days	`bool`	`true`	`useGapFilter`
Gap Threshold (%)	`float`	`0.5`	`gapThreshold`
Require Price Above 200 EMA	`bool`	`false`	`useEMA200Filter`
Risk % (Setup A)	`float`	`1.0`	`riskPctA`
Risk % (Setup B)	`float`	`0.5`	`riskPctB`
ATR Length	`int`	`14`	`atrLen`
ATR Stop Multiplier	`float`	`2.0`	`atrMult`
Max Losing Trades Per Day	`int`	`2`	`maxLossPerDay`

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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