OPEN-SOURCE SCRIPT
Updated 2 Reds -> 2 Greens Strategy with Custom TP/SL
custom candle configuration with a 61 percent win rate in the strategy tester user can configure take profit and stop loss to suit
Release Notes
Simple reversal strategy that goes long after two red candles followed by two green on the current timeframe. Positions exit on either a fixed $ take-profit or a % stop-loss. Chart labels: green BUY below the bar; red SELL (TP/SL) above the bar. Inputs let you set take profit ($) and stop loss (%); default position size is 10% of equity. Works on any symbol/timeframeOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.