OPEN-SOURCE SCRIPT
RedFlag
Counter-trend strategy
Condition to open a long position:
Buys if the price drops by a specified percentage from the previous candle’s close. Only one purchase can be made within a single candle.
Condition to close a position:
Places a separate individual closing limit order for each purchase, or uses one common take-profit order for the whole position.
⚠️ Attention: Stop-loss is not implemented in the current first version of the strategy.
Options description:
Drop_percent, % — Percentage drop in price from the From point
From — The reference point on the closed candle from which the Drop_percent is calculated (Open, Close, High, Low)
Tp, % — Take-profit level as a percentage
Count — Number of allowed additional purchases (scaling in)
Each_tp — Mode switch:
True — a separate take-profit is placed for each purchase
False — one common take-profit is placed based on the average entry price of the position
Condition to open a long position:
Buys if the price drops by a specified percentage from the previous candle’s close. Only one purchase can be made within a single candle.
Condition to close a position:
Places a separate individual closing limit order for each purchase, or uses one common take-profit order for the whole position.
⚠️ Attention: Stop-loss is not implemented in the current first version of the strategy.
Options description:
Drop_percent, % — Percentage drop in price from the From point
From — The reference point on the closed candle from which the Drop_percent is calculated (Open, Close, High, Low)
Tp, % — Take-profit level as a percentage
Count — Number of allowed additional purchases (scaling in)
Each_tp — Mode switch:
True — a separate take-profit is placed for each purchase
False — one common take-profit is placed based on the average entry price of the position
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.
hamster-bot.com/phoenix - инвестиционный алгофонд - консервативный доход
t.me/bothamster - канал бота
t.me/bothamster - канал бота
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.
hamster-bot.com/phoenix - инвестиционный алгофонд - консервативный доход
t.me/bothamster - канал бота
t.me/bothamster - канал бота
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.