OPEN-SOURCE SCRIPT
Options Buy Entry
Key Adjustments for Long Entries Only:
Removed Short Entry Logic:
All references to sell signals, short trades, and bearish order blocks were removed.
Only Buy Signals:
The script detects bullish order blocks and generates buy signals when the price revisits these blocks and meets the entry criteria.
Long Trade Entry and Exit:
Trades are initiated only when a buy signal appears, and the next candle breaks the high of the signal candle.
Stop-loss is set at the previous swing low.
Take-profit is calculated based on the user-defined risk_reward_ratio.
How It Works:
Buy Signal:
A green "BUY" label is plotted when the conditions for a long entry are met.
Long Entry:
The strategy enters a long trade when the next candle breaks the high of the signal candle.
Stop-loss is placed at the previous swing low.
Take-profit is calculated using the Risk-Reward Ratio.
Visualization:
Only bullish order blocks and buy signals are highlighted on the chart.
Removed Short Entry Logic:
All references to sell signals, short trades, and bearish order blocks were removed.
Only Buy Signals:
The script detects bullish order blocks and generates buy signals when the price revisits these blocks and meets the entry criteria.
Long Trade Entry and Exit:
Trades are initiated only when a buy signal appears, and the next candle breaks the high of the signal candle.
Stop-loss is set at the previous swing low.
Take-profit is calculated based on the user-defined risk_reward_ratio.
How It Works:
Buy Signal:
A green "BUY" label is plotted when the conditions for a long entry are met.
Long Entry:
The strategy enters a long trade when the next candle breaks the high of the signal candle.
Stop-loss is placed at the previous swing low.
Take-profit is calculated using the Risk-Reward Ratio.
Visualization:
Only bullish order blocks and buy signals are highlighted on the chart.
Open-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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Disclaimer
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