OPEN-SOURCE SCRIPT
Options Buy Entry
Key Adjustments for Long Entries Only:
Removed Short Entry Logic:
All references to sell signals, short trades, and bearish order blocks were removed.
Only Buy Signals:
The script detects bullish order blocks and generates buy signals when the price revisits these blocks and meets the entry criteria.
Long Trade Entry and Exit:
Trades are initiated only when a buy signal appears, and the next candle breaks the high of the signal candle.
Stop-loss is set at the previous swing low.
Take-profit is calculated based on the user-defined risk_reward_ratio.
How It Works:
Buy Signal:
A green "BUY" label is plotted when the conditions for a long entry are met.
Long Entry:
The strategy enters a long trade when the next candle breaks the high of the signal candle.
Stop-loss is placed at the previous swing low.
Take-profit is calculated using the Risk-Reward Ratio.
Visualization:
Only bullish order blocks and buy signals are highlighted on the chart.
Removed Short Entry Logic:
All references to sell signals, short trades, and bearish order blocks were removed.
Only Buy Signals:
The script detects bullish order blocks and generates buy signals when the price revisits these blocks and meets the entry criteria.
Long Trade Entry and Exit:
Trades are initiated only when a buy signal appears, and the next candle breaks the high of the signal candle.
Stop-loss is set at the previous swing low.
Take-profit is calculated based on the user-defined risk_reward_ratio.
How It Works:
Buy Signal:
A green "BUY" label is plotted when the conditions for a long entry are met.
Long Entry:
The strategy enters a long trade when the next candle breaks the high of the signal candle.
Stop-loss is placed at the previous swing low.
Take-profit is calculated using the Risk-Reward Ratio.
Visualization:
Only bullish order blocks and buy signals are highlighted on the chart.
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