OPEN-SOURCE SCRIPT
2 Moving Averages | Trend Following
The trading system is a trend-following strategy based on two moving averages (MA) and Parabolic SAR (PSAR) indicators.
How it works:
Features:
How it works:
- The strategy uses two moving averages: a fast MA and a slow MA.
- It checks for a bullish trend when the fast MA is above the slow MA and the current price is above the fast MA.
- It checks for a bearish trend when the fast MA is below the slow MA and the current price is below the fast MA.
- The Parabolic SAR (PSAR) indicator is used for additional trend confirmation.
- Long and short positions can be turned on or off based on user input.
- The strategy incorporates risk management with stop-loss orders based on the Average True Range (ATR).
- Users can filter the backtest date range and display various indicators.
- The strategy is designed to work with the date range filter, risk management, and user-defined positions.
Features:
- Trend-following strategy.
- Two customizable moving averages.
- Parabolic SAR for trend confirmation.
- User-defined risk management with stop-loss based on ATR.
- Backtest date range filter.
- Flexibility to enable or disable long and short positions.
- This trading system provides a comprehensive approach to trend-following and risk management, making it suitable for traders looking to capture trends with controlled risk.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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