Same High Low Strategy

This strategy trades based on price patterns forming same high/low levels. Consecutive weekly double bottom or double top formations trigger trades. The logic is: 1. Identify current or prior bar high/low equaling…

Pine ScriptBreakout Trend following ATR

Author: ChaoZhang
Complexity: Starter · 57 lines
Parameters: 3
Backtest bar: 10m · intraday
Tested on: BTC/USDT · futures

Jump to code View in vault Original on FMZ

Strategy Logic

This strategy trades based on price patterns forming same high/low levels. Consecutive weekly double bottom or double top formations trigger trades.

The logic is:

Identify current or prior bar high/low equaling the high/low 2 bars earlier
Double bottom pattern triggers long on low breakout
Double top pattern triggers short on high breakout
Stop loss placed near breakout level, take profit based on ATR multiple

It aims to capitalize on trend resumption after breaking same high/low levels. Stops and profit targets control risk.

Advantages

Same high/low easy to identify, clear breakout signals
ATR-based profit take dynamically trails trends
Simple rules, defined risk

Risks

Same high/low patterns less common
Stops too close risk being stopped out
ATR parameter setting needs attention

Summary

This strategy catches trend trades from same high/low breakouts. But stop/profit tuning and lower frequency requires consideration.

Parameters

Name	Default	What it controls
v_input_int_1	5	ATR length for abnormal candles
v_input_int_2	14	(?Strategy Settings)ATR length for take profit
v_input_int_3	5	ATR multiplier

Source Pine Script

/*backtest
start: 2023-09-06 00:00:00
end: 2023-09-13 00:00:00
period: 10m
basePeriod: 1m
exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}]
*/

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cherepanovvsb

//@version=5
strategy("SHL", overlay=true, margin_long=100, margin_short=100,initial_capital=100,default_qty_type = strategy.cash,default_qty_value =40,commission_type = strategy.commission.percent,commission_value =0.04,currency="EUR", process_orders_on_close=true)
atr = input.int(title="ATR length for abnormal candles", defval=5)
plotshape(low == low[1], style=shape.triangleup, location=location.belowbar, color=color.blue, title="1 Setup")
plotshape(high==high[1], style=shape.triangledown, location=location.abovebar, color=color.blue, title="1 Setup")
plotshape(low == low[1] and low[1]==low[2], style=shape.triangleup, location=location.belowbar, color=color.red, title="Triple Setup")
plotshape(low==high[1] or low==high[2] or low==high[3] or low==high[4] or low==high[5] or low==high[6], style=shape.triangleup, location=location.belowbar, color=color.green, title="Mirror Setup")
plotshape(high==low[1] or high==low[2] or high==low[3] or high==low[4] or high==low[5] or high==low[6], style=shape.triangledown, location=location.abovebar, color=color.green, title="Mirror Setup")
barcolor(high-low>2*ta.atr(atr)? color.yellow:na)


ATRlenght   = input.int(title="ATR length for take profit", defval=14, group="Strategy Settings")
rewardMultiplier= input.int(title="ATR multiplier", defval=5, group="Strategy Settings")

// Get ATR
atr1 = ta.atr(ATRlenght)

validlow =  low[1] == low[2] and not na(atr1)
validhigh = high[1]==high[2] and not na(atr1)

validlong = validlow and strategy.position_size == 0 and low[1]<low 
validshort = validhigh and strategy.position_size == 0 and high[1]>high

// Calculate Entrance, SL/TP
longStopPrice = low[1]-syminfo.mintick
longStopDistance = close - longStopPrice
longTargetPrice = close + (longStopDistance * rewardMultiplier)
shortStopPrice = high[1]+syminfo.mintick
shortStopDistance = shortStopPrice - close
shortTargetPrice = close - (shortStopDistance * rewardMultiplier)
var tradeStopPrice = 0.0
var tradeTargetPrice = 0.0
if validlong 
    tradeStopPrice := longStopPrice
    tradeTargetPrice := longTargetPrice
if validshort 
    tradeStopPrice := shortStopPrice
    tradeTargetPrice := shortTargetPrice
strategy.entry ("Long", strategy.long,1, when=validlong)
strategy.entry ("Short", strategy.short,1, when=validshort)

strategy.exit(id="Long Exit", from_entry="Long", limit=tradeTargetPrice, stop=tradeStopPrice, when=strategy.position_size > 0)
strategy.exit(id="Short Exit", from_entry="Short", limit=tradeTargetPrice, stop=tradeStopPrice, when=strategy.position_size < 0)

plot(strategy.position_size != 0 or validlong or validshort ? tradeStopPrice : na, title="Trade Stop Price", color=color.red, style=plot.style_linebr, transp=0)
plot(strategy.position_size != 0 or validlong or validshort ? tradeTargetPrice : na, title="Trade Target Price", color=color.green, style=plot.style_linebr, transp=0)

Published by ChaoZhang on the FMZ strategy square · last modified 2023-09-14. Collected in the Quant Trading Vault. Unvalidated research: re-test with your own data and costs before trusting it.

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