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OPEN-SOURCE SCRIPT

Commodity Channel Index

51
// BUY CONDITION
buySignal = direction < 0 and ta.crossover(cci, -100)

// ENTRY PRICE
entryPrice = close

// STOP LOSS AT SUPERTREND
stopLoss = supertrend

// RISK CALCULATION
risk = entryPrice - stopLoss

// TARGET 1:2
target = entryPrice + (risk * 2)

// ALERT
alertcondition(buySignal, title="BUY", message="Supertrend Green + CCI Cross Above -100 | RR 1:2")

// OPTIONAL PLOTS
plotshape(buySignal, title="BUY Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plot(stopLoss, title="Stop Loss", color=color.red)
plot(target, title="Target 1:2", color=color.green)

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.

mandhanerajat
Chart patterns

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.
Chart patterns

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.

mandhanerajat

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.