OPEN-SOURCE SCRIPT
Range Breakout Strategy (Candle Close/ Any Break) + P&L
This script defines your chosen range (in candles) based on a candle close or any range break. This can be changed in the settings. The default is candle close - please change it to any range break if you want. As of now, candle close setting on NQ seems more profitable, but this of course will depend on the underlying and also the range of your choosing.
The yellow line shows your entry point. You can of course edit line colors etc. in the settings. The dashed lines show your stop loss (red) and profit target (green).
Then, the script calculates the P&L for your strategy. You can play with the settings and dates to calculate the P&L and see it change in real time in the stats table as you do so.
I took care to calculate partial wins and losses as well, which is all indicated on the chart.
I hope you find this useful.
Happy trading,
~ Ava ~
The yellow line shows your entry point. You can of course edit line colors etc. in the settings. The dashed lines show your stop loss (red) and profit target (green).
Then, the script calculates the P&L for your strategy. You can play with the settings and dates to calculate the P&L and see it change in real time in the stats table as you do so.
I took care to calculate partial wins and losses as well, which is all indicated on the chart.
I hope you find this useful.
Happy trading,
~ Ava ~
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.