Broken High/Low Strategy [iCodeForBananas]

brokenhighs.pine

//@version=5
strategy("Broken High/Low Strategy [iCodeForBananas]", overlay=true, initial_capital = 5000, default_qty_value = 10, pyramiding = 0, default_qty_type= strategy.percent_of_equity, slippage=1, process_orders_on_close=true)

trailStopMALength = input(200, 'Trail stop EMA length', group = 'Exit')
trailStopQtyPercent = input(100, 'Stop quantity %', group = 'Exit')

trailStopMA = ta.ema(close, trailStopMALength)

isGreenCandle = close > open
isRedCandle = close < open
isBrokenHigh = close > open[1]
isPriorCandleRed = close[1] < open[1]
isPriorPriorCandleRed = close[2] < open[2]
isPriorPriorCandleGreen = close[2] > open[2]
isPriorCandleGreen = close[1] > open[1]
isBrokenLow = close < open[1]

isPriorRedCandleBroken = isGreenCandle and isPriorCandleRed and isBrokenHigh
isPriorGreenCandleBroken = isRedCandle and isPriorCandleGreen and isBrokenLow

isPriorPriorRedCandleBroken = not isPriorRedCandleBroken and isGreenCandle and isPriorPriorCandleRed ? close > open[2] : false
isPriorPriorGreenCandleBroken = not isPriorGreenCandleBroken and isRedCandle and isPriorPriorCandleGreen ? close < open[2] : false

longOpenCondition = isPriorRedCandleBroken or isPriorPriorRedCandleBroken
longCloseCondition = ta.crossunder(close, trailStopMA)

if (longOpenCondition)
    strategy.entry("Long Entry", strategy.long)

if (longCloseCondition)
    strategy.close('Long Entry', 'Long Exit')

plot(trailStopMA, linewidth = 1, color = color.red)