MomGulfing is a simple momentum and candlestick pattern based trading strategy. Developed on TradingView with PineScript
- RED -> GREEN,
- Green close > previous red high,
- Green candle volume > previous red candle volume
- RED -> GREEN -> GREEN
- First green close < previous red high,
- Second green close > previous red high,
- Second green candle volume > previous red candle volume
- RED -> GREEN -> GREEN -> GREEN
- First green close < previous red high,
- Second green close < previous red high,
- Third green close > previous red high,
- Third green candle volume > previous red candle volume
- GREEN -> RED,
- Red close < previous green low,
- Red candle volume > previous green candle volume
- GREEN -> RED -> RED
- First red close > previous green low,
- Second red close > previous green low,
- Second red candle volume > previous green candle volume
- GREEN -> RED -> RED -> RED
- First red close > previous green low,
- Second red close > previous green low,
- Third red close < previous green low,
- Third red candle volume > previous green candle volume
- First candle's low (for long positions) or high (for short positions) is stop level
- Take profit level based on Risk-reward: 2.5 (default setting)
- Leverage is 80/stop_loss_percent. Strategy uses all risk amount for the position. (If risking 1% of portfolio, enter position with that amount)
- Default pyramiding is 3
- Update take profit/stop loss levels at each signal.
For more details check momgulfing.pine file
Default parameters are used in all backtests, on daily charts. Backtest period: 2021-01-01 -> 2022-12-31
