OPEN-SOURCE SCRIPT
Updated Rule Number 1 Signals

This script takes the Rule #1 3 tools and plots them on the graph, to provide an additional level of indication for when to sell and when to buy.
Release Notes
Close instead of buyRelease Notes
Minor cosmetic changesRelease Notes
exit on 2 signals as per rule number 1Release Notes
More aggressive closing tactic to take profits if things don't go wellRelease Notes
Added comments and made the entry criteria based off of three period entry for each of the three tools.Included an experimental stop loss strategy - though will port this over to another future script with comprehensive support resistance.
Release Notes
CleanupRelease Notes
Switch back to simple moving average as per the book, and implement a look back mechanism for sell signal (to be in line with the buy signal)Release Notes
Simplify script - resulting in higher win ratesRelease Notes
Simplify scriptRelease Notes
Cleanup + refine the strategy to wait for 2 signals and then enter on the third as per the book.Allowing for more signals per timeframe
Release Notes
Update to Pine script version 4Open-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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.