Trend-Following Strategy for NIFTY or BANK NIFTY

yesterday

//version=5
strategy("Trend-Following Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=5)

// Input Parameters
macd_fast_length = input(12, title="MACD Fast Length")
macd_slow_length = input(26, title="MACD Slow Length")
macd_signal_length = input(9, title="MACD Signal Length")
sma_length = input(200, title="SMA Length")
atr_length = input(14, title="ATR Length")
atr_multiplier = input(1.5, title="ATR Stop Loss Multiplier")

// Calculate Indicators
[macdLine, signalLine, _] = ta.macd(close, macd_fast_length, macd_slow_length, macd_signal_length)
sma = ta.sma(close, sma_length)
atr = ta.atr(atr_length)

// Define Conditions
longCondition = ta.crossover(macdLine, signalLine) and close > sma
shortCondition = ta.crossunder(macdLine, signalLine) and close < sma

// Stop Loss and Take Profit
longStopLoss = close - atr * atr_multiplier
shortStopLoss = close + atr * atr_multiplier

// Execute Trades
if (longCondition)
strategy.entry("Long", strategy.long)
strategy.exit("Long Exit", from_entry="Long", stop=longStopLoss)

if (shortCondition)
strategy.entry("Short", strategy.short)
strategy.exit("Short Exit", from_entry="Short", stop=shortStopLoss)

// Plot Indicators
plot(sma, color=color.blue, linewidth=2, title="200 SMA")
hline(0, "Zero Line", color=color.gray)
plot(macdLine, color=color.green, title="MACD Line")
plot(signalLine, color=color.red, title="Signal Line")