OPEN-SOURCE SCRIPT
Momentum Strategy
This strategy uses momentum to determine when to enter and exit positions. The default settings are set to look for a new 63 day high (~1 trading quarter) and a new 40 day relative high. If the stock is trending above the 50 day moving average it is a candidate to be bought. Stops are triggered when price closes below the 20 day or 50 day EMAs depending on how well the stock is trending. A stop could also be triggered even if price continues to move up, but is breaking down on a relative basis to a benchmark either SPX or BTCUSD . The goal is to hold on to our winners for as long as possible and cut the losers as soon as possible. This will alow us to capture the majority of major trends while avoiding many large drawdown and relative losers.
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.
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.