Super Guppy Strategy

CM Super Guppy with Long/Short signals, backtesting, and additional options. Updated for PineScript v4.


Features 2 primary modes, depending on your risk profile. These options are available in the settings:

"Early Signals" ON (default):
  • Prints a "long" on grey to green transitions AND red to gray transitions.
  • Prints a "short" on green to grey transitions AND gray to red transitions.
  • Will not print back-to-back repeated positions (i.e. green → grey → red will only print the first green → gray "short" signal and not print "short" twice).
  • Rotates long and short positions with no delay.

"Early Signals" OFF
  • Will close trades, but never open new ones, when guppy transitions to from any color to gray.
  • Open long: guppy transitions gray to green.
  • Close long: guppy transitions green to gray.
  • Open short: guppy transitions gray to red.
  • Close short: guppy transitions red to gray.
  • Does not rotate long and short positions back to back.

  • Can toggle on/off the 200EMA. Default is off.
  • Can toggle on/off short positions. Default is on.

In development: alerts
Release Notes:
Release notes:
minor aesthetic update for opening and closing shorts with "Early Signal" mode disabled to be consistent with the rest of the labels. Removed some redundant comments.

Additional Notes:
Original post also mistakenly had "100%" for position size. Here are some additional results:

2% position size:

15% position size:

30% position size:
Release Notes:
Ignore that last update, the screencaps did not publish the way I expected them to. I do advise playing around with position size while backtesting, and never go all in :).

Also small grammatical fix to the original post, since we can't edit in TV: "when guppy transitions to from any color to gray" should instead say "when guppy transitions from any color to gray"

Happy trading!
Open-source script

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