Indicator · Pine Script v6 · On the chart

Trading - Automation

by vishnu-vardhan-d

This indicator implements a trailing stop and breakout logic based on average true range calculations, similar to established UT Bot methods converted to Pine Script version six.

View on GitHub

GitHub stars2on the repository
Pine versionv6current
Lines of code48
Settings3inputs
LicenceMIT
Last update2 weeks ago13 Oct 2026

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 indicator, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

48 lines of Pine Script v6 from pine/trading-automation.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

trading-automation.pine
//@version=6
// ============================================================================
//  Trading - Automation  (OWS Auto)
//
//  UT Bot logic identical to QuantNomad's v4 original, converted to Pine v6.
//  No dependencies, no other indicators, nothing to wire.
//
//  Inputs match the cousin's chart exactly: 1 / 10 / false.
//
//  Two alerts to create, both "Once Per Bar Close":
//    OWS BUY   -> entry
//    OWS SELL  -> exit
// ============================================================================
indicator('Trading - Automation', shorttitle = 'OWS Auto', overlay = true)

a = input.float(1,    'Key Value (sensitivity)')
c = input.int(10,     'ATR Period')
h = input.bool(false, 'Signals from Heikin Ashi Candles')

xATR  = ta.atr(c)
nLoss = a * xATR

src = h ? request.security(ticker.heikinashi(syminfo.tickerid), timeframe.period, close, lookahead = barmerge.lookahead_off) : close

xATRTrailingStop = 0.0
xATRTrailingStop := src > nz(xATRTrailingStop[1], 0) and src[1] > nz(xATRTrailingStop[1], 0) ? math.max(nz(xATRTrailingStop[1]), src - nLoss) :
   src < nz(xATRTrailingStop[1], 0) and src[1] < nz(xATRTrailingStop[1], 0) ? math.min(nz(xATRTrailingStop[1]), src + nLoss) :
   src > nz(xATRTrailingStop[1], 0) ? src - nLoss : src + nLoss

ema   = ta.ema(src, 1)
above = ta.crossover(ema, xATRTrailingStop)
below = ta.crossover(xATRTrailingStop, ema)

utBuy  = src > xATRTrailingStop and above
utSell = src < xATRTrailingStop and below

plotshape(utBuy,  title = 'Buy',  text = 'BUY',  style = shape.labelup,   location = location.belowbar, color = color.green, textcolor = color.white, size = size.tiny)
plotshape(utSell, title = 'Sell', text = 'SELL', style = shape.labeldown, location = location.abovebar, color = color.red,   textcolor = color.white, size = size.tiny)

// Trailing stop line — the only thing worth seeing besides the labels.
plot(xATRTrailingStop, 'UT Trailing Stop', color = color.new(color.gray, 40), linewidth = 1)

// ---------------------------------------------------------------------------
// Alerts. Replace REPLACE_ME with the shared secret, or override the message
// in the alert dialog. Keep this script PRIVATE — never click Publish.
// ---------------------------------------------------------------------------
alertcondition(utBuy,  'OWS BUY',  '{"secret":"REPLACE_ME","source":"ut-bot-a1-c10","action":"BUY","symbol":"{{ticker}}","price":"{{close}}","time":"{{timenow}}","tf":"{{interval}}"}')
alertcondition(utSell, 'OWS SELL', '{"secret":"REPLACE_ME","source":"ut-bot-a1-c10","action":"SELL","symbol":"{{ticker}}","price":"{{close}}","time":"{{timenow}}","tf":"{{interval}}"}')

Overview

Trading - Automation plots directional buy and sell labels directly on the price chart alongside a trailing stop line, and offers an optional input to calculate signals using Heikin Ashi candles instead of standard close prices. Sensitivity and average true range period parameters adjust the trailing stop distance. Alerts are configured for bar close triggers.

Details

Published by

vishnu-vardhan-d on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

Category

Trend, Volatility & bands

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
Key Value (sensitivity)float1a
ATR Periodint10c
Signals from Heikin Ashi Candlesboolfalseh
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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