PINE SCRIPT: 75% Win Rate on a Simple Pullback Strategy

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Want to learn Pine Script? Look no further. I have you covered!
This lesson demonstrates how to convert an extremely simple strategy idea into Pine Script code.
With over 16 years of coding experience and 5+ years of trading experience, I specialize in TradingView's Pine Script programming language and I'm here to pass on everything I've learned about both trading and coding.
🔷 This Lesson's Source Code: courses.theartoftrading.com/p...
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🔷 Original Strategy Video from Joe: • Try This Simple Pullba...
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▼Timestamps▼
00:00 - Strategy Overview
10:30 - User Input
13:42 - Strategy Conditions
20:50 - Entry & Exits
27:10 - Outro & Summary
#PineScript #TradingView #Indicator

Опубликовано:

30 июн 2024

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Комментарии : 238

@TheArtOfTrading Год назад

*SOURCE CODE:* courses.theartoftrading.com/pages/a-simple-pullback-strategy-in-pine-script *JOIN MY MAILING LIST TO BE NOTIFIED OF NEW VIDEOS:* theartoftrading.com/

@cyberpunk0208 Год назад

Hey! How can I iterate the value of the moving average using for loop and print the profit on each iteration of the moving average? Because I noticed that tweaking the values of the 2 moving averages can have better results. Thanks!

@aiLoveE Год назад

thx, sounds like a mix between pullback and mean reversion, no?

@utacho7032 Год назад

does the signal trigger a real order?

@golferboggie 10 месяцев назад

The source code link above does not work. Is there another link? Thanks

@aiLoveE 10 месяцев назад

@@golferboggie link works here. u may wanna check your system.

@dragondescendant1741 2 года назад

Can't say enough about how I personally love this new series! There are already tons of channels showcasing strategies as well as how to code using PINE, but to combine these two into one single series while taking people through your awesome thinking process is a true rare gem! There will be a lot of value in this for sure. Double thumbs up!! :D

@dewdropzz Год назад

@@khanra17 stopPrice is only used for plotting the red line.

@arieloxford6790 Год назад

Beautiful. The way you have applied the strategy's logic is the lesson here. I could have easily coded that strategy, but it would have been 10 times more messy and considerably less efficient. It's given me huge pointers to how to go forward.

@my99travels72 2 года назад

I really enjoyed this. Thank you for your time and effort and looking forward to more strategy testings ;)

@joshuaboyell779 Год назад

As an adult who never learned coding when I should have, your videos have been a godsend. I just recently finished the free basics course and I will be signing up for the mastery course. I saw one video on your YT page involved Python. I've recently started a beginners Python course as well, and let me just say, I would also pay for a Python course from you, if you ever get to producing it.

@joythought 2 года назад

Brilliant, mate. I have been Pinescripting for about a year but mostly just indicators so strategies and discussion on how you think through risk management, pyramiding, etc, and using them with exchanges is just awesome. Despite how simple this one was it was great to watch because not so long ago it would have been meaningless to me but these days every bit of code made sense. And that's a testament to the great community and to many of your videos. Thanks!

@TheArtOfTrading Год назад

That's awesome B Boy! Really glad to hear it, keep up the great work and good luck with your trading :)

@deepakgrao00 Год назад

Thank you so much. This is priceless. I watched your Pine script tutorial a little, went to your website to check your paid content, thought it was too much (I am in India, so ...), but now having watched this, I will at least subscribe to the Pine Script Mastery course. Your style is awesome.

@clausbjornsten5068 Год назад

excellent video ... thanks for pulling this together and sharing with the community !! really looking fwrd to the coming videos!!

@matthewalcala9564 Год назад

This lesson is amazing. Can't thank you enough for sharing your code. Thank you!

@mariocollado5072 2 года назад

Outsanding video. I will go back up to your first video and try to learn from scratch pine script strategies. Many thanks.

@JustMe-ro1be Год назад

Superb video, love the strategy videos - not so much how to trade or strat ideas, but how we can code our strategies. Would love to see more tutorials on building a strategy template or building a strategy script from the ground up with the most commonly used and important parts explained. Thanks

@Batlordi 2 года назад

I expect this is going to be a great series. It's nice to see your code because, even though I think I'd be able to code this, what you write is usually a lot more elegant than what I come up with, so I can learn something from it. If you take suggestions for future videos in this series, I think Raschke's and Connors ' Holy Grail' strategy described in the book 'Street Smarts' fits in well with strategies you're looking for. It requires: 1. ADX > 30 2. Retracement to the 20 EMA 3. After the retracement a buy stop over the high of the previous bar 4. The SL goes at the most recent swing low and the PT at the most recent swing high (though you can also trail your stop). 5. Also you can reenter the trade at the original price if stopped out.

@TheArtOfTrading Год назад

Thanks Janus! I appreciate the suggestion, it's hard to find simple rules-based strategies that are worth testing so I'll add that to my list to investigate in the future :)

@itslike123 2 года назад

Awesome video there thank you. The way that I will improve it is by ditching percentage based and replace it with SL atr Multiplier so it can work on any market .. also add a close condition when the candle close under the 10 ema after it have been over , reduce capital until I'm comfortable with drawdown percentage, also add filter to stop entering market when the price is too far from the 200MA (% or atr based)

@whenspurs 2 года назад

I'm glad I found your channel, amazing! subbed and great to hear a fellow Aussie

@GreenStickStrategies 2 года назад

Awesome series!! Keep them coming. Greetings from South America.

@productcheck 11 месяцев назад

This video helped me. It covers key Pine Script syntax quickly while explaining other trading concepts. It will not waste your time.

@wissoz7126 2 года назад

Interesting idea for a series! I would like to add a challenge: how about using the same strategy on multiple timeframes (simultaneously) to achieve higher hit rate?

@matthieudantes4129 Год назад

first time i watch one of your video,thank you for your work, you got a new subscriber buddy

@hplovecraftmacncheese Год назад

Started doing my first pine coding today. It took me a while to get this to work, but I managed to get through it and see a result.

@alariclau Год назад

Really good! Thank you very much!

@BillyGlyde108 2 года назад

THIS, is the reason I came here to learn code, to take ideas ppl have and code them into a strategy tester. I find it so incredibly hard to code though, the info will not stick, have to watch and do 6 times just to understand it (coding is not something I like). But similar to you I loved making macros for botting in games, but unlike you I find coding not the same and it bores the hell out of me but I understand how useful and needed it is for testing. So I soldier on. That was a long winded way of me saying, this is exactly what I was looking for lol. Thanks mate!

@peedledeedle3259 Год назад

I want you to know that I subscribed to this channel exclusively because of the way that you corrected the *ABOVE* audio cut. Also good video

@majidiranmahbob7448 Год назад

This is great thank you so much for this lesson.

@jamalalbayoudh5155 Год назад

Always you proof that you are the best, thanks very much Mr.Matt, keep going...

@jackyckb301 2 года назад

Thanks for sharing the code freely!

@example6978 Год назад

I slightly changed the strategy you used as an example and back tested on EURUSD (76 trades from 7/8/20 to 2/7/23) and USDJPY (73 trades over the same time frame) and the results were pretty good. USDJPY risking 1 percent per trade with a 1.1 RR yielded 30.52% profit with a 68.49% win rate. EURUSD yielded 24.14% profit with a 64.47% win rate. All I changed was I added an ATR (14 RMA) and did 1x the ATR value for my stop loss. So rules were: For Long entry. Price must close below the 10 ema, enter on the open of the next candle. Use 1x the ATR for the stop loss and 1.1 RR for TP. Opposite for shorts Now 70ish trades over 3 years might not seem like much but if you are trading both pairs thats around 150 trades, I also plan to back test on the other major currency pairs and if they yield the same results, you have yourself a completely mechanical strategy with a high win rate and regular set ups. Would take all of 10 minutes at the end of each daily candle to sit down and glance over your forex pairs and set up your positions and require zero thought. In case anyone was looking for a good strategy foundation, this is a good one

@teddyperera8531 Год назад

Thank you so much. This is an amazing tutorial! Plesae do more Pine script strategy testing videos.

@gholamhosseingorgin4799 2 года назад

Good job as always. Thanks alot

@mrnick8851 11 месяцев назад

Love that my friend, thanks a lot! By the way at 18:05 i think it should be (buy price-close)/buy price instead of(buy price-close)/close, as we are calculating the percentage away from our buy price and not the close. Thanks again:)

@manoxyde Год назад

so cool and well explained !!

@roystoncartwright5640 7 месяцев назад

just came across im a trader but never touched code and realised you done a basic one for free really looking forward to digging into this 😊

@tarekmustafa2525 2 года назад

I learned a lot from this Video. Thank you!

@fuzzywuzzy318 Год назад

thanks for your video , it's really help me understand how to use pine script more flexible and also give me a mindset how to write my own strategy and optimize it

@mangjose5446 2 года назад

Very educational 👌 Using some of your older tuts, i made a multiple close to wch ever is more profitable. Maybe it can be applied also to this. Im learning from you. Thank you so much

@federicosolano3920 9 месяцев назад

Excellent Trading Video Professor

@LongTu167 Год назад

This is really amazing. Thank you so much !!!

@hipphipphurra77 11 месяцев назад

Excellent video, gives nice insight to pine.

@tautvydas.slevas Год назад

Waiting for more videos. Thank you. :)

@peterbrunet5797 Год назад

Thank you for the detailed walk-through. Do you haver a video or resource showing how to get this PineScript Code into Think or Swim?

@schmooverboover Год назад

Nice video thanks! I think the script would benefit from a direction check of the moving average. If it trends up i would take a long and if it goes down take a short.

@cspinelli Год назад

Thanks for the content man

@schimmi72 2 года назад

Nice video. Thanks! I would like to use different indicators or study of the tradingview database to wright a strategy by using a combination of them. Can give me a hint, how to start? Thanks in advance!

@ricardopineda2074 2 года назад

thanks a lot, good job

@MoawiaAlmardoud 2 года назад

This is a unique RU-vid video, keep it up.

@robriste Год назад

thanks, your content is awesome

@i3ztex Год назад

Thank you very much. Can you please create a video in how to code divergence between Price Action and RSI.

@walduss7939 Год назад

Good video. interested in new ones!

@whimsythecrypto-hippy-wolf1900 Год назад

this pine editor strategy testing stuff is doing my head in! my strategy is kind complex to put in to code (as a non coder)

@Hand2HandCombat Год назад

Hi What are the options for encrypting custom alert/syntax for signals that you can use with pineconnector and the other similar services to protect your BUY / SELL / EXIT LOGIC?

@refaamoe Год назад

You make this so easy to understand Thank you.. How about an ABC trading strategy 😍

@donyxd3365 2 года назад

love this new series!!! hope we get new uploads of this series on a weekly basis! would love to see more scalping ideas on 3, 5, 15 mins chart rather than swings on daily chart

@TheArtOfTrading Год назад

Cheers donYXD! Weekly is a bit difficult as it takes me several days to vet and test strategies I find and to code out the script etc., and I don't trade timeframes lower than the 4HR chart due to a multitude of problems with liquidity/slippage/commission costs/high spreads/lack of historical data to test on etc. so I'm not particularly experienced at scalping. But if I find a strategy that seems robust and has a genuine edge I'll definitely explore it!

@ezrakoper Год назад

Amezing video and I really appreciate your way of teaching. I am new to pine getting better every day. What I have not found yet is how to mix indicator I wrote (programmer) with a strategy. In your example you did the Indicator and the strategy stuff. Now let's say I build an indicator telling when to go in or out. My question is how do I access it from the strategy similar to sma() for example which arrived with tradingview.

@amoghpatki5596 Год назад

hey massive thanks for this guidance video... was super detailed and helpful... just one query though: sometimes the buyconditions are met but TV still doesnt generate a buy signal... any clue why that might be happening?

@snorider686 9 дней назад

Amazing! Thank you so much for doing this series. Does anyone have thoughts on selling 2-week out put credit spreads on the long signals and closing on the close signals?

@Kingluis1981 Год назад

Great video, thanks

@mason5540 Год назад

Would be interesting to see how a short version of this script would perform

@gjovejim5159 Год назад

Thanks, simple strategy and obviously needs to be on higher timeframes to get a larger profit. To reduce the drawdown it needs some filtering maybe with a tight supertrend to make sure you don't get caught when the trend changes. Seems good for a weak uptrend but misses big uptrends where it doesn't drop below the sma.

@jleoarsenault6107 Год назад

Great video. Got a question is there a way to in tell script to enter a trade at certain time of day and exit ??

@MrRnl2004 Год назад

Sir this is awesome strategy video. Is it only applies to Daily timeframe or can be use any? Thanks... and more power!!!

@andyr8833 Год назад

great job, thanks

@alirezaattaei4308 Год назад

Hi, Thanks for sharing your valuable content. would you plz consider making a video about how to set an Alarm on multiple Symbols at once in a simple script for example crossing MA !!?

@estebancesan3064 Год назад

Amazing series learning so much from it! One small tweak could eliminate a some of the negative trades, if the Open price on the buy order is under the 200sma do not take trade. I am trying to add this in but cant figure out how to do it is it possible to add this small condition?

@zkhanzut Год назад

Hey mate, thanks for a lot of free videos. If you add minimum commission in each strategy. It will help a lot of newbies not indulge into something which shows prospects of profit BUT the moment we enter the commission % it is shows entirely a different result. Thanks. Hope you understand the request. Cheers!😊

@kenyoruonwonga5915 Год назад

Excellent video. As usual, your explanationations are very well done. I have a question, do you have a similar pine script for the short strategy. I tried to modify this script but was not able to. Can you help me or show me how I can do this?

@joli8195 Год назад

Interesting! Any possibility that you can share the script example from a video like this as a downloadable text/script through a specific link, so we can "play" with it after watching the video? Thanks!

@emonitani Год назад

very good excellent presentation

@codecode4927 Год назад

you are so humble and your voice is so beautiful.

@johnd3684 6 месяцев назад

EXCELLENT VIDEO, how can we set it up to work on 4H chart instead of 1 Day for example??

@rkumar4593 Год назад

very informative.

@dineshbs6635 Год назад

What type of candlestick chart are you using? Coz the open of current candle and open of previous candle don't seem to equal in many cases. It might be noob question, but I'm new to all this and would be helpful to know.

@warwickmortensen6641 2 года назад

Thanks!

@GabrielsTears Год назад

Thank you. This looks great. I am going to convert this to ninjascript.

@GHOSTsq Год назад

100% i was thinking about the simple pine for this exact topic

@CrewCheese Год назад

Hi zen I love your content I will ask you if is possible you can teach us how to code : one first target with % and then exit the all trade with a condition like close below ema or something like that I really appreciate :)

@lindsayjones152 Год назад

Nice work Matt. My programming experience started with Fortran many moons ago ! So Pinescript is a bit of a change - but your explanations are very clear. When I run this script I get identical results (Overview in the Strategy Tester) except the shown "Ave Trade %" - the $$ amounts agree ($2,505) but your video shows this as 5% or so while mine shows 1.24%. The 5% is true if calculated as a % of the Starting Capital only not very realistic ! Has TV changed how this is calculated very recently ??

@Mrshanmugham1 11 месяцев назад

hai friend FORTRAN - I think your age is Near 62 - am also started from FORTRAN..... any way Greetings from India

@dome4life736 Год назад

At 18:05, shouldn't it be "((buyPrice - close) / buyPrice)" to calculate the percentual loss instead of "((buyPrice - close) / close)" ? Kind regards! I'm eager to learn, so I'm really looking forward to your reply!

@budweizer100 4 месяца назад

Did you ever update the code to adjust the stop loss, which you mention right at the end of the video? If so, how did this impact the results?

@valm7397 2 года назад

Thank you very much. I like your video and the way you explain. Is there somewhere i can find the source code please ?

@TheArtOfTrading Год назад

Sure! You're welcome, the link to the source code is in the description :)

@rdtradecraft Год назад

Interesting. One other thing I noticed was that many of the losing trades were taken when the slope of the two averages disagreed. I'm curios to see how taking only the trades when the slope of the two averages was up would do.

@cryptolymoly1422 Год назад

Hey thank you for the awesome video! Not to nitpick but I just want to help with the maths, at line 30 should the algorythm to find 10% be ((buyPrice - close) / buyPrice)? For example if buy is 10 and close is 9 ((10 - 9 = 1) / 10 = 0.1). Thanks again for the amazing content :)

@user-dn8tf7oo1l Год назад

You are correct.

@trtnec Год назад

I wonder what the results were if you included the short side, or a modified short condition to take profits earlier (given that SPY is overall bullish long-term).

@avalacos 2 года назад

Any way you can publish the script for us to look at? I'm sure I've stuffed something up while following along (ie. strategy goes long at the start of the time period and never closes) but not sure where.

@BasitAIi 9 месяцев назад

the source code can be used in jupyter notebook or google colab for parameter tuning ?

@itslike123 Год назад

Joe should be proud of this video, he just gain my subscription:D

@knightnxk2906 Год назад

on one minute time frame, as of right now, if you go with MA1 as 141 or 270 and MA2 as 20 without ticking the exit on lower close, you can get to around 80-81% profitability per trade, makes your net profit higher and if you keep it that way, it reduces the lag between realized profits if i can express myself so. you get around 190 trades and 8 candles per average which is great, because it will read the performance for less than a day, which is what you'd normally want. and my net profit percentage is 2.48% strangely enough here, if you play with different numbers for starting capital you will get different percentage gain which is weird, the lowest one that was similar to automatically set 50k was 4,333 everything else tends to lower the profit percentage number

@navketan1965 Год назад

SIR, Trading forex supply & demand if 4 hour trend is up,& 1 hour trend is up as well--then on 15 minute time frame chart one has to wait until price comes down to support level(derived from 1H chart) & using smaller 15 minutes chart watch that this level holds & then buy. Next step would be how this long position attacks higher supply level ON THE SAME 1H chart & only sell if forex pair turns down at this higher supply level--otherwise just hold the position on to next higher supply level ON SAME 1HOUR CHART--any modifications you suggest

@zaklloyd4335 Год назад

Nice video. What Im struggling to get my head round is if the win rate is 75% we make 0.44% 75 times in 100, but lose 10% 25 times in a hundred? OR am i misunderstanding in that the overall average including losses is 0.44%

@dannysuru Год назад

Pretty cool bro !Thanks for your help! Where can we get the Pine script to have a play? BTW Oanda don't let Kiwis have accounts ,even demo accounts! Might have to move to Aussie

@TheArtOfTrading Год назад

Hey Dani! That sucks about Oanda not being available in NZ, the regulations around retail traders can be pretty harsh for forex brokers. Have you looked into Global Prime? They're my main broker these days and they might be available in NZ. I don't usually recommend brokers and you should always do your own research but GP are a great company worth looking into if you have time. As for the Pine Script code the link is in the video description :)

@dannysuru Год назад

@@TheArtOfTrading looks like GP do support kiwis Cheers mate I did find and run the script but it didn’t seem to work for some reason

@HTLW_TheAuthor Год назад

As I am pretty new to this trading stuff, i find your videos usefull to learn about trading in general, learning the syntax of pine script and getting a taste of diffrent strategies. I must admit I'm currently expanding on your code from this video and it left me with a few questions: 1. I want this script to be used by a bot, like from wickhunter. How do i tell my script it has to follow the 1 minute chart? I know you have an user input for resolution but is that enough? 2. I know you can see some data on a candle bar that hasnt been finalised yet, but can i access that specific data within my script? I think i will have the add "calc_on_every_tick=true" in strategy i suppose. Any help would be greatly appriciated. Regards, E.

@C.g.video.editing 11 месяцев назад

It should be able to be used on on a bot, If you apply this strategy to the US06M(6 month government bond) on trading view it has some amazing returns. to use a lower timeframe you just need to select a lower timeframe up the top of your screen and that should work all the best C1616 (God)

@MrGodpetrucci Год назад

There is a way to prevent cascade of buys after being hit by stop loss? Because the subsequent buys don´t meet the criteria and creates a series of loosing buys. This fix could make this a perfect code.

@ShashankUdupa1 2 месяца назад

Is there any way to generate the exact strategy but with a reverse effect? Short selling above 10 MA and buying it back once it goes below it? I tried replicating it but had no luck. Thanks

@Dr_Snow Год назад

One other factor to consider, when comparing this strategy vs. buy and hold, is taxes. Short term capital gains will likely seriously affect the final outcome.

@soothingmonkey8399 4 дня назад

First of all, you're great. But when you take the number of trading days in 13 years and the number of trades executed into account, is it necessary to trade by script?

@nikosbays8766 Год назад

im now starting to learn pine script and investing, looks very interesting, but is it doing in real life? is it working as the strategy tester?do we have any real life results?

@orikuper4433 Год назад

Thanks

@pradipspeaks9395 Год назад

Can you please make your TradingView as light theme? Thats easy to see in mobile.

@kltaito Год назад

Is there a way I can make a strategy with EMAs and RSI or TTM squeeze with buy and sell alerts?

@gary5799 Год назад

A question about max draw down,, holding you would have 50% but lose nothing if you hold through it, with the strategy thee draw down is capped at 10%, it could hit that max many times over, how many times is the max of 10% hit

@TheArtOfTrading Год назад

The max drawdown is the worst drawdown the system experienced, so if a strategy has a max drawdown of 10% then it means the most it ever lost as a percentage of capital during its worst losing period was 10%. This is a massively boosted risk-adjusted return compared to a 50% drawdown, while it's true that you don't realize a loss until you click the sell button, a 50% drawdown could take many years to recover. Whereas multiple 10% drawdowns might only take a few months, meaning you can reach new equity highs far more frequently and generate far more profit over the long-term than buying and holding through big drawdowns. (Speaking from experience) Also, most investors would get nervous and sell at some point on the way down if they encountered a -50% drawdown, unless they had the courage (or maybe recklessness) to never ever check their trading account