OPEN-SOURCE SCRIPT
Bucket 3 Momentum
Bucket 3 Momentum
A backtestable daily-chart momentum strategy for ASX equities, built on a four-layer confirmation model: a trade fires only when the weekly trend grants permission, daily structure is intact, a price trigger confirms demand, and risk/extension checks pass.
The weekly layer is the gatekeeper — price above a rising 30-week SMA with healthy weekly RSI — so it won't buy dips in stocks that have quietly left a Stage-2 uptrend. The daily layer confirms the structure (price above the 50/150 DMAs, 50DMA flat-to-rising) with a damage veto for collapsing RSI, fresh 20-day lows, or bearish DMI. Entry triggers on a 5-day breakout with a strong close, but only once a tunable setup score is met (RSI curl + signal cross, fast-MACD turn, DMI recovery, improving RS vs XJO). An anti-chase filter blocks entries stretched too far above the 20EMA.
Positions are sized by defined risk (default 1.5% per trade), with the initial stop below the pullback swing low, floored at 1 ATR. Three exits execute: initial hard stop, a 1.5×ATR trailing stop that ratchets up only, and a structural trend-failure exit.
Built to be backtest-honest — weekly data uses the completed-bar pattern to avoid repaint/lookahead bias, structural decisions act on bar close, protective stops fill intrabar. An on-chart table shows each layer's status, live score, and current state. Tunable throughout; benchmarked against the XJO, so other universes need the benchmark and liquidity floor adjusted.
For education only — not financial advice. Past backtested performance does not guarantee future results.
A backtestable daily-chart momentum strategy for ASX equities, built on a four-layer confirmation model: a trade fires only when the weekly trend grants permission, daily structure is intact, a price trigger confirms demand, and risk/extension checks pass.
The weekly layer is the gatekeeper — price above a rising 30-week SMA with healthy weekly RSI — so it won't buy dips in stocks that have quietly left a Stage-2 uptrend. The daily layer confirms the structure (price above the 50/150 DMAs, 50DMA flat-to-rising) with a damage veto for collapsing RSI, fresh 20-day lows, or bearish DMI. Entry triggers on a 5-day breakout with a strong close, but only once a tunable setup score is met (RSI curl + signal cross, fast-MACD turn, DMI recovery, improving RS vs XJO). An anti-chase filter blocks entries stretched too far above the 20EMA.
Positions are sized by defined risk (default 1.5% per trade), with the initial stop below the pullback swing low, floored at 1 ATR. Three exits execute: initial hard stop, a 1.5×ATR trailing stop that ratchets up only, and a structural trend-failure exit.
Built to be backtest-honest — weekly data uses the completed-bar pattern to avoid repaint/lookahead bias, structural decisions act on bar close, protective stops fill intrabar. An on-chart table shows each layer's status, live score, and current state. Tunable throughout; benchmarked against the XJO, so other universes need the benchmark and liquidity floor adjusted.
For education only — not financial advice. Past backtested performance does not guarantee future results.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.