OPEN-SOURCE SCRIPT

Simple Pyramid Strategy

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This 'Simple Pyramid Strategy' is a generic trading strategy that takes a Buy/Sell source input of: [> 0 for Buy, < 0 for Sell, = 0 for Neither]

For every signal on every bar, it will open, or add to the current position if in the same direction, by the amount of the configured 'Default order size'.

A signal in the opposite direction to the current position will completely close out that position and open a new one in the opposite direction.

It also takes an optional 'Cancel' indicator to close positions or prevent them from being opened. [> 0 for Buy, < 0 for Sell, = 0 for Neither]

A SELL signal from the cancel indicator will close a long position and a BUY signal will close a short. A SELL will have no effect on a short, as will a BUY not effect a long.

A stop can optionally be applied, as an actual value, or else a percentage of the price of the chart asset. The current position will close out if the P/L for it exceeds a loss of more than this amount.

0 means no stop will be applied.

Be sure to configure the 'Pyramiding' option to a large number, and ensure 'Initial capital' is also enough to avoid liquidations.

My 'Simple Buy/Sell Indicator' and 'Custom Buy/Sell Indicator' (coming soon - watch this space) can be used to combine other indicators together into BUY / SELL strategies, using multiple custom rules. These can then be used as inputs to this strategy.

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