Creen Bollinger Breakout

ayer

Strategy Description
This Pine Script strategy is designed for trading on the 1-hour (1H) timeframe. It leverages multiple timeframes and indicators to identify entry and exit opportunities for long and short positions.

Key Features:
Multi-Timeframe Factor (M7F):

If M7F is related to the concept of multiple timeframes, it could indicate an aggregated condition where certain thresholds are met across different time intervals (5-minute, 1-hour, 3-hour in your case). This factor might combine the signals from all timeframes into a unified rule.
Indicators:

Weighted Moving Averages (VWMA) and Hull Moving Averages (HMA) are applied on 5-minute, 1-hour, and 3-hour timeframes to evaluate trend direction and momentum.
Deviation Thresholds: Price deviations are calculated to set thresholds for entry and exit.
Entry Conditions:

Long Positions: Triggered when the price is above all VWMA and HMA indicators across the monitored timeframes, combined with a breakout above an upper threshold.
Short Positions: Triggered when the price is below all VWMA and HMA indicators, combined with a breakdown below a lower threshold.
Exit Conditions:

Take Profit/Stop Loss (TP/SL): Positions close when the price reaches preset take-profit or stop-loss levels.
Dynamic Thresholds: Exits are based on additional thresholds such as breakdowns, outbreaks, or signal line deviations.
Visualization:

Colored signal lines and arrows mark potential breakouts, breakdowns, and high-volatility conditions, improving chart readability.
Green lines and arrows indicate bullish signals, while red signals bearish conditions.
Position Sizing:

Positions are dynamically sized based on account equity and user-defined leverage to ensure responsible risk management.
Default Settings: Multiple closing variables are listed in settings, m7f works the best for the hourly.

Bigger sample size available with deep backtest feature of tradingview.