High-Low Breakout Strategy with ATR traling Stop LossThis script is a TradingView Pine Script strategy that implements a High-Low Breakout Strategy with ATR Trailing Stop.created by SK WEALTH GURU, Here’s a breakdown of its key components:
Features and Functionality
Custom Timeframe and High-Low Detection
Allows users to select a custom timeframe (default: 30 minutes) to detect high and low levels.
Tracks the high and low within a user-specified period (e.g., first 30 minutes of the session).
Draws horizontal lines for high and low, persisting for a specified number of days.
Trade Entry Conditions
Long Entry: If the closing price crosses above the recorded high.
Short Entry: If the closing price crosses below the recorded low.
The user can choose to trade Long, Short, or Both.
ATR-Based Trailing Stop & Risk Management
Uses Average True Range (ATR) with a multiplier (default: 3.5) to determine a dynamic trailing stop-loss.
Trades reset daily, ensuring a fresh start each day.
Trade Execution and Partial Profit Taking
Stop-loss: Default at 1% of entry price.
Partial profit: Books 50% of the position at 3% profit.
Max 2 trades per day: If the first trade hits stop-loss, the strategy allows one re-entry.
Intraday Exit Condition
All positions close at 3:15 PM to ensure no overnight risk.
Strong
Strong Potential Asset Strategy (EMA + EMA)During experiments with the market, I found out that simple strategy is the best solution. However, I decided to bring some of my ideas on the 2 MA strategy.
- Instead of SMA - there will be 2 EMA, so the strategy will be more sensitive to the latest data;
- There is an option, which regulates the difference between those 2 EMAs, this should protect us from false trend enter;
- There is an option "Exit tolerance", which regulates how much could be the difference between 2 EMAs after crossover. This supposed to protect us from the false trend exit.
Hope this will be helpful :)
