OPEN-SOURCE SCRIPT
Custom Band Strategy
Updated
1. Trend
if ema200 > ema30 Long entry only
else Short entry only
2. Custom Band
Upper band = sma(period) + max(close, period) * multiplier
Lower band = sma(period) - max(close, period) * multiplier
Multiplier can be either 1.3 or 1.1 depending on the trend.
(If trend is long, upper band's factor would be 1.3, lower band be 1.1)
2. Long entry condition
- Cross over the lower band and band width is greater than (close price)*2.2%(assume this band width as an expected ROE)
- Previous candle change rate((close-open)/open*100) is less than 3%.
3. Short entry condition
- Cross under the upper band and band width is greater than (close price)*2.2%
- Previous candle change rate is less than 3%.
4. Long/Short exit condition
- cross over/under the lower/upper band and roe is higher than 2%.
5. Stop/Target condition
- Target 10%, Stoploss 3%
- Previous candle change rate is higher than 3%.
Most variables can be set manually.
Test period changeable.
if ema200 > ema30 Long entry only
else Short entry only
2. Custom Band
Upper band = sma(period) + max(close, period) * multiplier
Lower band = sma(period) - max(close, period) * multiplier
Multiplier can be either 1.3 or 1.1 depending on the trend.
(If trend is long, upper band's factor would be 1.3, lower band be 1.1)
2. Long entry condition
- Cross over the lower band and band width is greater than (close price)*2.2%(assume this band width as an expected ROE)
- Previous candle change rate((close-open)/open*100) is less than 3%.
3. Short entry condition
- Cross under the upper band and band width is greater than (close price)*2.2%
- Previous candle change rate is less than 3%.
4. Long/Short exit condition
- cross over/under the lower/upper band and roe is higher than 2%.
5. Stop/Target condition
- Target 10%, Stoploss 3%
- Previous candle change rate is higher than 3%.
Most variables can be set manually.
Test period changeable.
Release Notes
ㅁㅁOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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