OPEN-SOURCE SCRIPT
Weekend Trend Trader - Presets
Weekend Trend Trader – Presets
This strategy is an implementation of the Weekend Trend Trader concept popularized by Nick Radge.
It is designed to run on a WEEKLY chart and aims to capture medium-term breakouts with a rules-based trailing stop.
How it works
Presets
The script provides fixed presets designed to keep the system simple and consistent.
Stops / exits
The strategy uses a trailing stop based on the highest high since entry.
Visual elements
Important notes
This strategy is an implementation of the Weekend Trend Trader concept popularized by Nick Radge.
It is designed to run on a WEEKLY chart and aims to capture medium-term breakouts with a rules-based trailing stop.
This is a systematic framework. It does not guarantee results. Markets can remain range-bound for long periods and generate false breakouts.
How it works
- []Timeframe constraint: the script enforces Weekly charts only. []Breakout entry: a trade triggers when price closes above the previous N-week highest high. []Momentum filter (ROC): the breakout must occur with sufficient momentum. display on the chart with purple background []Market regime (SPX): the strategy monitors the trend of an index (default SPX). Display on the chart with square on the bottom
Presets
The script provides fixed presets designed to keep the system simple and consistent.
- []Original – baseline parameters inspired by the original approach []Performance – wider and fixed trailing stop
Stops / exits
The strategy uses a trailing stop based on the highest high since entry.
- []The stop follows the position as the trade moves higher []If the broader index trend weakens, the stop becomes tighter
- The position closes when price breaks the trailing stop
Visual elements
- []Breakout level (previous highest high) []Trailing stop line []Momentum regime background []Index trend indicator
Important notes
This strategy focuses on capturing sustained trends rather than predicting short-term movements.
The goal is consistency and disciplined execution, not catching every move in the market.
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.