millerrh

Breakout Trend Follower Strategy

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This strategy goes long when highs are broken and uses a trailing stop that follows swing lows. User can configure a back test date range and choose whether or not to only take trades above a selected moving average.

The desire for me to make this script was to try to capture those extreme breakouts that can occur after a consolidation/equilibrium pattern. This catches those using stop-buys as the entry. Out of all the scripts I have made thus far, this one is the one that has the best results. Time frames might vary due to commission structures, etc. I currently use this strategy on stocks on the 30-min time frame and crypto (with Coinbase's high fees) on the 2-hr time frame.
Note di rilascio: Cleaned up the code a bit and added some tooltips to the input to help people more.
Added the ability to select a second moving average on a different time frame to act as an entry filter. So if you wanted to screen for stocks only above their 50-day MA (as an example) it will show this in the chart now on all time frames.
Added the ability to filter out trades that have poor risk/reward based on daily ATR values. As an example, the default value is if the price delta between your buy stop and sell stop is more than 1 ATR, it won't make that buy.
Note di rilascio: Added the ability to filter out trades that are above a certain RSI level. The idea behind this filter is that you don't want to be buying breakouts when the previous bar is already overbought.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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Commenti

Excellent work.
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