Short Term Trade Setups

This is a collection of the following number of Short Term Trade Setups:

+ The Nail (one day reversal)
+ The Inference formation
+ Smash Day
+ Holy Grail

The are as described in the book (Swedish):

"Boken om Gerillatrading" by Johan Hellström, Peter Nilsson, Johnny Torssell

The intended use is to Enter often and Exit shortly after.

The Short Term Trade Setup panel consists of four rows:

Nail : 'green' Enter
Inference : 'green'
Smash : 'green' SMASH is setup, Enter when the price pass previous bars 'high'
Holy Grail : 'green' Enter
<all> : 'red' Exit if 'bars-to-hold' is enabled, or for the Nail: trailing ATR stop

Per default EXITs are made after 5 periods, but really, the EXIT may be effectuated
as soon as profit is made; these are 'Short-Term-Trades' after all...

For the Nail, I've implemented a trailing ATR-stop that may be enabled; if enabled
it will override the 5 period exit. The trailing ATR-stop is positioned: (ATR * Multiple)
below the highest price since the Nail gave Enter signal.

A more detailed description of how they work can be found at the top of the script itself.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?