Strategy · Pine Script v5 · On the chart

Trailing Take Profit Trailing Stop Loss

by akash-yellgetti· code credited to Iason Nikolas | jason5480

A strategy that goes long when a fast simple moving average crosses above a slow one, and short on the opposite cross, with separate switches for long and short deals.

View on GitHub

GitHub stars1on the repository
Pine versionv5runs as is
Lines of code322
Settings30inputs
LicenceNone stated
Last update2 years ago15 Jul 2024

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  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

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

Stop loss can be set by percentage or ATR multiple and can trail, with an optional break-even move. Take profit can use percentage, ATR or a risk-reward ratio, can trail by a set distance, and can close a portion of the position.

Details

Published by

akash-yellgetti on GitHub

Code credit

Iason Nikolas | jason5480, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Category

Trend, Moving averages

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
FromboolfalsefromDateTime
​timetimestamp('01 Jan 2023 00:00')​
To boolfalsetoDateTime
​​timetimestamp('01 Jan 2024 00:00')​​
Timezones Ref->ChartstringExchangeTimezones Ref->Chart
->stringExchange->
Long DealsbooltruelongDealsEnabled
Short DealsbooltrueshortDealsEnabled
Fast/Slow SMA Lengthint21fastMALen
slowMALenint49slowMALen
ATR Lengthint14atrLength
Stop Loss MethodstringPERCstopLossMethod
Show all 30 settings
SettingTypeDefaultVariable
Long/Short Stop Loss %float7.5longTrailingStopLossPerc
shortTrailingStopLossPercfloat7.5shortTrailingStopLossPerc
ATR Long/Short Mul float3.0longStopLossAtrMul
shortStopLossAtrMulfloat3.0shortStopLossAtrMul
Enable TrailingstringTPstopLossTrailingEnabled
Break EvenboolfalsebreakEvenEnabled
Take Profit Quantity %float50takeProfitQuantityPerc
Take Profit MethodstringPERCtakeProfitMethod
Long/Short Take Profit %float10.0longTakeProfitPerc
shortTakeProfitPercfloat10.0shortTakeProfitPerc
ATR Long/Short Mul float9.0longTakeProfitAtrMul
shortTakeProfitAtrMulfloat9.0shortTakeProfitAtrMul
Long/Short RR Ratio float1.5longRiskRewardRatio
shortRiskRewardRatiofloat1.5shortRiskRewardRatio
Enable TrailingbooltruetakeProfitTrailingEnabled
Distance MethodstringPERCdistanceMethod
Distance %float1.0distancePerc
Distance ATR Mulfloat1.0distanceAtrMul
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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