For my first foray into pine script I took the code from the generic "Consecutive up/down" and flipped the logic. I added a linear regression filter to try and stay with the overall trend. ATR added for visual, I eventually want to use it as part of the money management.
Rules to open trade or close the opposite: IF the linear regression slope is >=0 AND the last candle closes lower, BUY IF the linear regression slope is <=0 AND the last candle closes higher SELL
Rules to close the opposite: IF the linear regression slope is >=0 AND the last candle closes higher, close any open SELL IF the linear regression slope is <=0 AND the last candle closes lower, close any open BUY
Notas de Lançamento
⋅
Go with or against the Linear Regression trend using pullbacks or looking for breakouts of consecutive bars.
Notas de Lançamento
⋅
Updated smooth moving average for ATR channel
Notas de Lançamento
⋅
Added RSI for filtering overbought and oversold conditions
Notas de Lançamento
⋅
Code cleanup.
Notas de Lançamento
⋅
moved early exit to after entry to reduce redundant position calls
Notas de Lançamento
⋅
Set default behavior to go with major trend(200 linear regression slope) and against minor trend pullbacks(4 linear regression slope)
Notas de Lançamento
⋅
Added a date range function for choosing which date to test.