High-Low Breakout Strategy with ATR traling Stop Loss

12 jam lalu

This script is a TradingView Pine Script strategy that implements a High-Low Breakout Strategy with ATR Trailing Stop.created by SK WEALTH GURU, Here’s a breakdown of its key components:
Features and Functionality
Custom Timeframe and High-Low Detection
Allows users to select a custom timeframe (default: 30 minutes) to detect high and low levels.
Tracks the high and low within a user-specified period (e.g., first 30 minutes of the session).
Draws horizontal lines for high and low, persisting for a specified number of days.
Trade Entry Conditions
Long Entry: If the closing price crosses above the recorded high.
Short Entry: If the closing price crosses below the recorded low.
The user can choose to trade Long, Short, or Both.
ATR-Based Trailing Stop & Risk Management
Uses Average True Range (ATR) with a multiplier (default: 3.5) to determine a dynamic trailing stop-loss.
Trades reset daily, ensuring a fresh start each day.
Trade Execution and Partial Profit Taking
Stop-loss: Default at 1% of entry price.
Partial profit: Books 50% of the position at 3% profit.
Max 2 trades per day: If the first trade hits stop-loss, the strategy allows one re-entry.
Intraday Exit Condition
All positions close at 3:15 PM to ensure no overnight risk.

9 jam lalu

Nota Keluaran

This script is a well-structured Pine Script strategy for TradingView by SK WEALTH GURU. That implements a high-low breakout strategy with an ATR-based trailing stop-loss. It includes various trade management features like break-even adjustment, profit locking, and partial profit-taking. Here’s a breakdown:

🔹 Key Features:
Custom Timeframe High-Low Detection:

It captures the high and low of a specified time window each trading day.
These levels are extended for a configurable number of days.
ATR-Based Trailing Stop:

Uses an ATR (Average True Range) multiplier to dynamically set a trailing stop-loss.
Trade Entry Conditions:

Long Trade: When the price breaks above the high of the tracked timeframe.
Short Trade: When the price drops below the low of the tracked timeframe.
Trade Management:

Break-even: Moves stop-loss to entry price when price moves favorably.
Profit Locking: Adjusts stop-loss as price moves in favor of the trade.
Partial Profit Booking: Closes 50% of the position after a predefined profit percentage is reached.
Daily Reset & Trade Control:

Resets trade triggers and activity status at the start of a new day.
Ensures only one trade per day per direction.
Automatically closes all open positions at 3:15 PM.