Momentuminator 1.0
Here we have a general purpose momentum based long and short flip flop with optional profit target and maximum loss.
Program development: Boffin Hollow Lab
Author: Tarzan at tradingview.com
Release: Version 1.0 May 2016
Please Note: Past Performance is not necessarily indicative of future results
Program development: Boffin Hollow Lab
Author: Tarzan at tradingview.com
Release: Version 1.0 May 2016
Please Note: Past Performance is not necessarily indicative of future results
//@version=2
strategy("Momentuminator 1.0", title = "Momentuminator", overlay=true)
//©2016 Boffin Hollow Lab
//Author: Craig Harris
//color the background by days of the week
c = navy
bgColor = (dayofweek == monday) ? color(c, 94) :
(dayofweek == tuesday) ? color(c, 90) :
(dayofweek == wednesday) ? color(c, 86) :
(dayofweek == thursday) ? color(c, 84) :
(dayofweek == friday) ? color(c, 82) : na
bgcolor(color = bgColor)
//input parms and variables
length = input(12)
tgtt = input(title = "profit target", defval=600, step = 5)
mloss = input (title = "Maximum Loss",defval=-600, step=5)
price = close
//momentuminator function
momentum(seria, length) =>
mom = seria - seria[length]
mom
// give it to a mom
momz = momentum(price, length)
mom1 = momentum( momz, 1)
if (momz > 0 and mom1 > 0)
strategy.entry("MomLE", strategy.long, stop=high+syminfo.mintick, comment="MomLE")
else
strategy.cancel("MomLE")
strategy.close("MomLE", when = strategy.openprofit > (tgtt))
strategy.close("MomSE", when = strategy.openprofit > (tgtt))
if (momz < 0 and mom1 < 0)
strategy.entry("MomSE", strategy.short, stop=low-syminfo.mintick, comment="MomSE")
else
strategy.cancel("MomSE")
strategy.close("MomLE", when = strategy.openprofit > (tgtt))
strategy.close("MomSE", when = strategy.openprofit > (tgtt))
strategy.close("MomLE", when = strategy.openprofit < (mloss))
strategy.close("MomSE", when = strategy.openprofit < (mloss))
//plot(strategy.equity, title="equity", color=red, linewidth=2, style=areabr)