Here we have a general purpose momentum based long and short flip flop with optional profit target and maximum loss.
Program development: Boffin Hollow Lab
Author: Tarzan at tradingview.com
Release: Version 1.0 May 2016
Please Note: Past Performance is not necessarily indicative of future results
Program development: Boffin Hollow Lab
Author: Tarzan at tradingview.com
Release: Version 1.0 May 2016
Please Note: Past Performance is not necessarily indicative of future results
//@version=2 strategy("Momentuminator 1.0", title = "Momentuminator", overlay=true) //©2016 Boffin Hollow Lab //Author: Craig Harris //color the background by days of the week c = navy bgColor = (dayofweek == monday) ? color(c, 94) : (dayofweek == tuesday) ? color(c, 90) : (dayofweek == wednesday) ? color(c, 86) : (dayofweek == thursday) ? color(c, 84) : (dayofweek == friday) ? color(c, 82) : na bgcolor(color = bgColor) //input parms and variables length = input(12) tgtt = input(title = "profit target", defval=600, step = 5) mloss = input (title = "Maximum Loss",defval=-600, step=5) price = close //momentuminator function momentum(seria, length) => mom = seria - seria[length] mom // give it to a mom momz = momentum(price, length) mom1 = momentum( momz, 1) if (momz > 0 and mom1 > 0) strategy.entry("MomLE", strategy.long, stop=high+syminfo.mintick, comment="MomLE") else strategy.cancel("MomLE") strategy.close("MomLE", when = strategy.openprofit > (tgtt)) strategy.close("MomSE", when = strategy.openprofit > (tgtt)) if (momz < 0 and mom1 < 0) strategy.entry("MomSE", strategy.short, stop=low-syminfo.mintick, comment="MomSE") else strategy.cancel("MomSE") strategy.close("MomLE", when = strategy.openprofit > (tgtt)) strategy.close("MomSE", when = strategy.openprofit > (tgtt)) strategy.close("MomLE", when = strategy.openprofit < (mloss)) strategy.close("MomSE", when = strategy.openprofit < (mloss)) //plot(strategy.equity, title="equity", color=red, linewidth=2, style=areabr)