This strategy combines the Pivot Support Reversal indicator with support/resistance levels to track trends and manage profit/drawdown.
The rules are:
Go long when the PSR indicator generates a buy signal
Take 25% partial profit at R1
Take another 25% partial profit at R2
Use a moving stop loss below the 14-period moving average minus 3xATR
The PSR indicator synthesizes CMO, Bollinger Bands, volume and more into high-probability signals. Pivot points act as profit targets while having trend-following ability. The strategy’s strength lies in its staged profit taking and disciplined stop loss to lock in profits while tightly controlling risk.
PSR combines multiple factors for high-quality signals
Pivots act as profit targets and tracking tools
Staged profit taking and trailing stop protects profits and manages risk
PSR parameters need optimization
Pivots can sometimes be breached
Risk remains for residual position after partial profits
This strategy capitalizes on the PSR indicator’s syndicated signals and uses pivots as dynamic profit targets. By taking profits in batches and cutting losses fast, it aims to pragmatically book profits while tightly controlling risk.
/*backtest
start: 2023-01-01 00:00:00
end: 2023-09-13 00:00:00
period: 3d
basePeriod: 1d
exchanges: [{"eid":"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/
// © ParaBellum68
//@version=4
strategy(title="SOJA PIVOT", shorttitle="SOJA PIVOT")
soja = ((cmo(close,5) > 25) and (cmo(close,5) < 70) and (close> close[1]) and (bbw(close,50,1) < 0.6) and (sum(volume,5)> 250000) and (obv[5]>15))
TP = 2.1 * hlc3[1]- high[1]
TP2 = TP + high[1] - low[1]
SL = avg(close,14) - 3*atr(14)
strategy.entry("buy", true, 1, when = soja == 1)
strategy.close("buy", when = close > TP)
strategy.close("buy", when = close > TP2)
strategy.exit("stop", "exit", when = close < SL)