PROTECTED SOURCE SCRIPT
Candle stick pattern strategy - No EMA 5MTF
Overview
This strategy is designed to maximize trade frequency by identifying an expanded range of high-probability candlestick reversal patterns. It is an unfiltered system, meaning it will act on every valid signal it finds on the 5min timeframe, making it a very active strategy.
The core of the system is its ability to recognise not just the most common reversal signals, but also powerful "second-tier" patterns that often precede strong market moves.
An Expanded Arsenal of Signals 🏹
In addition to the flexible Pin Bars (Hammers/Shooting Stars) and classic Engulfing patterns, this strategy has been upgraded to include two new, powerful two-candle reversal patterns:
Piercing Pattern (Bullish): A strong bullish signal where a green candle opens below the prior red candle's close and then "pierces" more than halfway up into the body of that red candle, showing a decisive rejection of lower prices.
Dark Cloud Cover (Bearish): The opposite of a piercing pattern. A red candle opens above the prior green candle's high and then closes more than halfway down into the body of the green candle, signaling that sellers are taking control.
The inclusion of these patterns significantly increases the number of trading opportunities the strategy can capture.
Trade & Risk Management
Trade Logic: Once a trade is entered, it is held until it reaches its original Stop Loss or Take Profit. The strategy will ignore all new signals while a position is active to ensure each trade follows its plan.
Automated Risk: Every trade is automatically sized to risk exactly 2% of your account equity, providing consistent risk management.
Risk/Reward: The strategy targets a 1:6 R:R for long trades and a 1:4 R:R for short trades.
How To Use
Apply the strategy script to your chart.
Set the chart's timeframe to 5 min
Review the performance and individual trades in the 'Strategy Tester' tab at the bottom of your screen.
Disclaimer: This script is for educational and informational purposes. Trading involves substantial risk, and past performance is not a guarantee of future results. Use this tool at your own risk.
This strategy is designed to maximize trade frequency by identifying an expanded range of high-probability candlestick reversal patterns. It is an unfiltered system, meaning it will act on every valid signal it finds on the 5min timeframe, making it a very active strategy.
The core of the system is its ability to recognise not just the most common reversal signals, but also powerful "second-tier" patterns that often precede strong market moves.
An Expanded Arsenal of Signals 🏹
In addition to the flexible Pin Bars (Hammers/Shooting Stars) and classic Engulfing patterns, this strategy has been upgraded to include two new, powerful two-candle reversal patterns:
Piercing Pattern (Bullish): A strong bullish signal where a green candle opens below the prior red candle's close and then "pierces" more than halfway up into the body of that red candle, showing a decisive rejection of lower prices.
Dark Cloud Cover (Bearish): The opposite of a piercing pattern. A red candle opens above the prior green candle's high and then closes more than halfway down into the body of the green candle, signaling that sellers are taking control.
The inclusion of these patterns significantly increases the number of trading opportunities the strategy can capture.
Trade & Risk Management
Trade Logic: Once a trade is entered, it is held until it reaches its original Stop Loss or Take Profit. The strategy will ignore all new signals while a position is active to ensure each trade follows its plan.
Automated Risk: Every trade is automatically sized to risk exactly 2% of your account equity, providing consistent risk management.
Risk/Reward: The strategy targets a 1:6 R:R for long trades and a 1:4 R:R for short trades.
How To Use
Apply the strategy script to your chart.
Set the chart's timeframe to 5 min
Review the performance and individual trades in the 'Strategy Tester' tab at the bottom of your screen.
Disclaimer: This script is for educational and informational purposes. Trading involves substantial risk, and past performance is not a guarantee of future results. Use this tool at your own risk.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.