OPEN-SOURCE SCRIPT

SMA Crossover with 1% SL/TP

This Pine Script strategy is built around a simple moving average (SMA) crossover and is an educational resource to illustrate how to write the NinjaTrader compatible message payload into your strategy.

This script specifically shows how to establish percentage based stops and targets, which can then be passed through the {{strategy.action.alert_message}} variable.

Entry Condition:

A buy order is triggered when the 1-period SMA crosses above the 3-period SMA.
A sell order is triggered when the 1-period SMA crosses below the 3-period SMA.

Stop Loss and Take Profit:

The stop loss and take profit levels are calculated as 1% above and below the entry price.
For a long position, the stop loss is set 1% below the entry price, and the take profit is set 1% above. For a short position, the stop loss is set 1% above the entry price, and the take profit is set 1% below.

The percentage-based approach ensures that the stop and target levels scale with the price, offering a flexible risk management solution. Feel free to modify this script as you see fit and don't forget to add your secret key for the alerts to pass through CrossTrade.
educational

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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