HPotter

Breakout Range Short Strategy

Breakout Range Short Strategy

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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.

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//  Copyright by HPotter v1.0 09/09/2014
// Breakout Range Short Strategy
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study(title="Breakout Range Short Strategy", overlay = true)
look_bak = input(4, minval=1, title="Look Bak")
xLowest = lowest(low, look_bak)
pos =	iff(low < xLowest[1], 1, 0) 
barcolor(pos == 1 ? red: blue )
plotshape(pos, style=shape.triangledown, location = location.abovebar, color = red)