This strategy plots running pivot highs as red R circles and pivot lows as blue S circles directly on the price chart. It computes an EMA 3 and a Cto trend line from close prices, then generates long signals on upward EMA-Cto crossovers combined with price pos
Strategy · Pine Script v5 · On the chart
Weekly Break out Strategy
This strategy executes breakout trades based on price channels and moving average trend alignment.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code31
Settings0inputs
LicenceMPL-2.0
Last update1 year ago4 Aug 2025
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
31 lines of Pine Script v5 from Weekly Breakout - Strategy/weekly_breakout.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Salih Emin (cerebrux)
//@version=5
strategy('Weekly Break out Strategy', overlay=true, default_qty_value = 100, default_qty_type = strategy.percent_of_equity, initial_capital = 1000)
// Defining Take profit and Stoploss as 4:1 Reaward to Risk ration
SL = 0.10
TP = 0.40
// Long position signal
if close > ta.highest(close[1], 20) and close > ta.sma(close, 130)
strategy.entry('long', strategy.long)
longstop = strategy.position_avg_price * (1 - SL)
longprofit = strategy.position_avg_price * (1 + TP)
if strategy.position_size > 0
strategy.exit(id='close', stop=longstop, limit=longprofit)
// Short position signal
if close < ta.highest(close[1], 20) and close < ta.sma(close, 130)
strategy.entry('short', strategy.short)
shortstop = strategy.position_avg_price * (1 + SL)
shortprofit = strategy.position_avg_price * (1 - TP)
if strategy.position_size < 0
strategy.exit(id='close', stop=shortstop, limit=shortprofit)
Overview
Weekly Break out Strategy enters long positions when the closing price breaks above its 20-period high while trading above a 130-period simple moving average. Short positions enter when price drops below the 130-period average. Exits are handled with a fixed 10% stop loss and a 40% take profit target calculated from the average entry price. It overlays directly on the chart and allocates full equity without customizable user inputs.
- 20-period highest close breakout trigger
- 130-period simple moving average trend filter
- Fixed 10% stop loss and 40% take profit exits
- Full equity position sizing
Details
Published by
SynergOps on GitHub
Code credit
Salih Emin (cerebrux), as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Breakout, Trend, Moving averages
Markets
Any symbol
Timeframes
H4 and above
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.
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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