In essence, the Kijun-Sen is a kind of moving average based on the High/Low range, similar to .
We wait for a crossover or crossunder to enter a new trade, then exit upon the next cross.
It works on 1H timeframe and above. It also works for all the Major FX pairs (at least from my tests).
I use the ATR and a multiplier to decide the S/L position as well as the of the trade.
I also use an equity protector to close out of all trades if a specific DD % level is reached. In theory, this should never happen with only one trade open at a time, however, if a user wants to modify the script to pyramid orders then the equity protector could potentially "save" an account.
The default settings should produce winning results on Major pairs. You can change the backtest time in the script by altering line #53:
>if(time > timestamp(2017,1,1,0,0) and time < timestamp(2019,1,1,0,0))
Add 2 additional forms of confirmation
Add to filter losing trades
Add exit indicator
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.