How it works:
- The strategy uses two moving averages: a fast MA and a slow MA.
- It checks for a bullish trend when the fast MA is above the slow MA and the current price is above the fast MA.
- It checks for a bearish trend when the fast MA is below the slow MA and the current price is below the fast MA.
- The Parabolic SAR (PSAR) indicator is used for additional trend confirmation.
- Long and short positions can be turned on or off based on user input.
- The strategy incorporates risk management with stop-loss orders based on the Average True Range (ATR).
- Users can filter the backtest date range and display various indicators.
- The strategy is designed to work with the date range filter, risk management, and user-defined positions.
- Trend-following strategy.
- Two customizable moving averages.
- Parabolic SAR for trend confirmation.
- User-defined risk management with stop-loss based on ATR.
- Backtest date range filter.
- Flexibility to enable or disable long and short positions.
- This trading system provides a comprehensive approach to trend-following and risk management, making it suitable for traders looking to capture trends with controlled risk.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.