Trend Signals with TP & SL Kang

//version=5
strategy("Buy/Sell with SL & TP", overlay=true, initial_capital=100000, default_qty_type=strategy.percent_of_equity, default_qty_value=10)

//===== Inputs =====
fastLen = input.int(9, "Fast MA Length")
slowLen = input.int(21, "Slow MA Length")
stopLossP = input.float(0.5, "Stop Loss %", step=0.1)
takeProfP = input.float(1.0, "Take Profit %", step=0.1)

//===== Indicators =====
fastMA = ta.ema(close, fastLen)
slowMA = ta.ema(close, slowLen)

plot(fastMA, color=color.new(color.green, 0))
plot(slowMA, color=color.new(color.red, 0))

//===== Conditions =====
longCondition = ta.crossover(fastMA, slowMA)
shortCondition = ta.crossunder(fastMA, slowMA)

//===== Entry Logic =====
if (longCondition)
strategy.entry("Long", strategy.long)
if (shortCondition)
strategy.entry("Short", strategy.short)

//===== Exit Logic =====
if (strategy.position_size > 0)
strategy.exit("Long Exit", "Long", stop=strategy.position_avg_price * (1 - stopLossP/100), limit=strategy.position_avg_price * (1 + takeProfP/100))
if (strategy.position_size < 0)
strategy.exit("Short Exit", "Short", stop=strategy.position_avg_price * (1 + stopLossP/100), limit=strategy.position_avg_price * (1 - takeProfP/100))

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.

kangharpal

Disclaimer

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Open-source script

kangharpal