add pinbar

pinbar.pine

@@ -0,0 +1,80 @@
+//@version=5
+indicator("Pinbar trend", overlay=true)
+
+// Strategy Settings
+// strategy("Pinbar Trend Strategy", overlay=true)
+
+// Parameters
+threshold = 0.6667
+riskRewardRatio = 2
+
+// Calculate the length of upper and lower wicks
+upperWickLength = high - math.max(close, open)
+lowerWickLength = math.min(close, open) - low
+
+// Input for EMA length
+emaFastInput = input.int(10, title="EMA Fast", minval=1)
+emaMidInput = input.int(20, title="EMA Mid", minval=1)
+emaSlowInput = input.int(60, title="EMA Slow", minval=1)
+emafast = ta.ema(close, emaFastInput)
+emamid = ta.ema(close, emaMidInput)
+emaslow = ta.ema(close, emaSlowInput)
+
+// Input for lookback period to calculate the slope of EMA
+// lookbackPeriod = input.int(5, title="Lookback Period for EMA Slope", minval=1)
+
+// closeSlope = (close - close[lookbackPeriod]) / lookbackPeriod
+
+// Calculate total range of the bar
+totalRange = high - low
+
+// Conditions for bearish and bullish signal bars
+isBearishSignalBar = (upperWickLength >= threshold * totalRange and upperWickLength > lowerWickLength)
+isBullishSignalBar = (lowerWickLength >= threshold * totalRange and lowerWickLength > upperWickLength)
+
+// Condition to check if the bar touches the EMA line
+// isTouchingEMA = (emafast >= low and emafast <= high) or (emamid >= low and emamid <= high)
+isTouchingEMA = (isBearishSignalBar and ((emafast >= math.max(close, open) and emafast <= high) or (emamid >= math.max(close, open) and emamid <= high))) or (isBullishSignalBar and ((emafast <= math.min(close, open) and emafast >= low) or (emamid <= math.min(close, open) and emamid >= low)))
+
+// Condition to check if the bar is below or above the EMA
+isBelowEMA = high < emafast
+isAboveEMA = low > emafast
+
+// Final conditions to highlight bars
+highlightBearishBar = isBearishSignalBar and (isTouchingEMA)
+highlightBullishBar = isBullishSignalBar and (isTouchingEMA)
+
+weakHighlightBearishBar = isBearishSignalBar and (not isTouchingEMA)
+weakHighlightBullishBar = isBullishSignalBar and (not isTouchingEMA)
+
+
+
+// Plotting the bars
+barcolor(highlightBearishBar ? color.yellow : na, title = "Bearish bar color")
+barcolor(highlightBullishBar ? color.yellow : na, title = "Bullish bar color")
+barcolor(weakHighlightBearishBar ? color.rgb(33, 150, 243, 40) : na, title = "Weak bearish bar color")
+barcolor(weakHighlightBullishBar ? color.rgb(33, 150, 243, 40): na, title = "Weak bullish bar color")
+
+// Adding markers for bearish and bullish bars
+plotchar(series=highlightBearishBar, location=location.abovebar, char='▼', color=color.red, size=size.tiny, title = "Bearish indicator")
+plotchar(series=highlightBullishBar, location=location.belowbar, char='▲', color=color.green, size=size.tiny, title = "Bullish indicator")
+plotchar(series=weakHighlightBearishBar, location=location.abovebar, char='▼', color=color.rgb(255,82, 82, 60), size=size.tiny, title = "Weak bearish")
+plotchar(series=weakHighlightBullishBar, location=location.belowbar, char='▲', color=color.rgb(76, 175, 80, 60), size=size.tiny, title = "Weak bullish")
+
+
+// Adding alerts
+alertcondition(highlightBearishBar or highlightBullishBar, title="Pinbar Signal", message='{"ticker": "{{ticker}}", "exchange": "{{exchange}}", "interval": "{{interval}}"}')
+
+// Trading strategy for bullish signal bars
+// if (highlightBullishBar and closeSlope > 0)
+//     longStopLoss = low
+//     longTakeProfit = close + (close - longStopLoss) * riskRewardRatio
+//     strategy.entry("Bullish Signal", strategy.long, when=highlightBullishBar and closeSlope > 0)
+//     strategy.exit("Take Profit/Stop Loss", "Bullish Signal", stop=longStopLoss, limit=longTakeProfit)
+
+// // Trading strategy for bearish signal bars
+// if (highlightBearishBar and closeSlope < 0)
+//     shortStopLoss = high
+//     shortTakeProfit = close - (shortStopLoss - close) * riskRewardRatio
+//     strategy.entry("Bearish Signal", strategy.short, when=highlightBearishBar and closeSlope < 0)
+//     strategy.exit("Take Profit/Stop Loss", "Bearish Signal", stop=shortStopLoss, limit=shortTakeProfit)