This is my favorite for Tradingview.

Please use other indicators to find good entry and good exit. This is why this publication has so many indicators. A good indicator will find good results even on line chart. Feel free to try on "Heiken Ashi" but understand that "line" chart is much more realistic
Due to tradingview's crappy auto resize, the best way to view this script is to click on the share button and "Make it Mine".

Then you can see why my other indicators are "PRESENT"

Release Notes: This strategy calculates the last high or the last low of a lookback period. If the previous high or low is breached, a signal to enter market is given. This new version adds safety check formula to try to catch potential fake-outs.

Remember that Heiken Ashi do not provide true backtest results because bars are "averaged".

However, this strategy works well with regular candles and line charts if you find the right settings and chart time frame

Release Notes: Apologies - Changed version number from 1 to 4
Release Notes: Updated to show back test on line chart on 8H BTCUSD
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Epic Results on a "LIne" Chart on 8H BTCUSD!!!!!!!!!!!

Make settings to: close, 41, 10, 1
+1 Reply
BruceZou Craig_Claussen
@Craig_Claussen, Can you write it in full
Does it repaint?
@dpanday, Yes it does. I wonder how much.
settings: ohlc4, 47,23,1

back test results for December 16th.

Net Profit 5.69 %
Max Draw down 0.64 %
Profit Factor 4.118
Total Closed Trades 18
Percent Profitable 61.11 %
Here is script in "Study" format to create alerts

study(title="HIGHER HIGH LOWER LOW STUDY", shorttitle="HH LL STUDY", overlay=true)


//Higher High or Lower Low Entry Inputs
price = input(ohlc4)
LookBack = input(22)
Highest = highest(LookBack)
Lowest = lowest(LookBack)

long = price > Highest
short = price < Lowest

//Safety Confirmation Inputs - Helps to thin out false breakouts or break downs
length = input(2)
High_Guard = highest(length)
Low_Guard = lowest(length)
length2 = input(1)

long1 = long == 1 and Highest > High_Guard
short1 = short == 1 and Lowest < Low_Guard

plotshape(long1, style=shape.triangleup,, size=size.small,
plotshape(short1, style=shape.triangledown, location=location.bottom, size=size.small,

alertcondition(long1, "LONG BTCUSD 15M HHLL", "LONG BTCUSD 15M HHLL")
alertcondition(short1, "SHORT BTCUSD 15M HHLL", "SHORT BTCUSD 15M HHLL")
Comment removed.
vikithekingbros vikithekingbros
@vikithekingbros, i found that there is an script condition mismatch compare to Strategy and Study, after fixing the same i can see the labels in chart for long and short signal but i can see the noise when it was an study. e.g. if i apply strategy script i can see only 1 short in a day but in study i can see two buy & one sell ? any idea why such a noise are occurred in study ?
ashvan vikithekingbros
@vikithekingbros, Have you got the solution for this script with code ?
ashvan Craig_Claussen
@Craig_Claussen, Sir, i am looking for full script with alerts . please help . would like to use this
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