This Pine Script strategy is designed for use on the 1-hour (1H) timeframe and incorporates multiple indicators across different timeframes to generate entry and exit signals for long and short positions. The core logic includes:
Indicators: The strategy uses weighted moving averages (VWMA) and Hull Moving Averages (HMA) from the 5-minute, hourly, and 3-hour timeframes to assess market conditions.
For long positions, the price must be above these indicators on all timeframes. For short positions, the price must be below these indicators. Signal Line: A signal line is drawn above or below the current price based on entry conditions. Green indicates a long signal, while red indicates a short signal.
Position Sizing & Leverage: The position size is calculated based on equity and leverage settings.
Entry Conditions:
Long entry occurs when there's a breakout above a defined upper threshold. Short entry occurs when there's a breakdown below a defined lower threshold. Exit Conditions:
Three methods are available to close positions: Take Profit/Stop Loss: Positions are closed when price hits predefined take profit or stop loss levels. Downbreak/Outbreak: Positions are closed if the price crosses below the lower threshold (downbreak) or above the upper threshold (outbreak). M7F Signal: Positions are closed based on the signal line's relationship to the price. Visual Indicators: The strategy includes visual markers for breakouts, breakdowns, and high volatility events, with arrows on the chart for easy identification.
This strategy is useful for trading on the 1-hour chart, with automated entries and exits based on indicator crossovers, volatility, and price movements, providing a clear framework for position management.