ProfitStrategy01 by joinfree

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//@version=2
strategy("ProfitStrategy01", overlay=true)
// Simple Profit making strategy by joinfree
Phigh = (open>close?open:close)
Plow = (open>close?close:open)
longC = (strategy.position_size Phigh) and (Plow > Plow) and (close > open)
strategy.entry("buy", strategy.long, 100000, when=longC)
strategy.exit("buy", "buy", 100000, profit=200, stop=50)
shortC = (strategy.position_size Phigh) and (Plow > Plow) and (close < open)
strategy.entry("sell", strategy.short, 100000, when=shortC)
strategy.exit("sell", "sell", 100000, profit=200, stop=50)

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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//@version=2
strategy("ProfitStrategy01", overlay=true)
// Simple Profit making strategy by joinfree 
Phigh = (open>close?open:close)
Plow = (open>close?close:open)
longC = (strategy.position_size <= 0) and (Phigh[1] > Phigh[0]) and (Plow[0] > Plow[1]) and (close[0] > open[0])
strategy.entry("buy", strategy.long, 100000, when=longC)
strategy.exit("buy", "buy",  100000, profit=200, stop=50)
shortC = (strategy.position_size <= 0) and (Phigh[1] > Phigh[0]) and (Plow[0] > Plow[1]) and (close[0] < open[0])
strategy.entry("sell", strategy.short, 100000, when=shortC)
strategy.exit("sell", "sell",  100000, profit=200, stop=50)

Comments

hi how does this work ??

Reply

@addyadzzz4 (hi how does this work ?) When conditions are right enter trade with tight stops and 4 times profit, so with even with three wrongs and one right you are making profit on your trades. All the best.

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