The base code for this script has been derived from Yellow Flower's 'SMAX Strategy'. The strategy is intended to be used on the 1HR Chart for best results, however it can be used on any timeframe you desire.
The following updates have been implemented:
*Updated to Pine v4. There is no repainting in this script as it does not utilize the security ticker function. *Ability to backtest for a given date range has been embedded. *Ability to specify Trailing Stop, Stop Loss and Take Profit added for the purpose of backtesting strategy. *Code added to prevent re-entry into the same position after a Trailing Stop, Stop Loss or Take Profit occurs. *Position size is no longer fixed to 1 contract. Pyramiding has been removed from the code. *Various miscellaneous syntax changes to optimise code.
The ability to change inputs (thresholds, risk management - trailing stop, stop loss and take profit) has been disabled in this free to use version. You may still apply this free version to your charts to understand the script, but you will not be able to adjust it for application.
For access to the premium version of this script which allows you to change inputs, please contact me.
This script is published closed-source and you may privately use it freely.
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