//@version=5
strategy("Price Action Strategy", overlay=true)
// Input parameters
supportResistanceLength = input.int(10, title="Support/Resistance Length")
atrLength = input.int(14, title="ATR Length")
riskPercentage = input.float(1.0, title="Risk per Trade (%)", minval=0.1,
maxval=100)
stopLossATR = input.float(1.5, title="Stop Loss (ATR Multiplier)", minval=0.5,
maxval=5.0)
takeProfitATR = input.float(2.0, title="Take Profit (ATR Multiplier)", minval=1.0,
maxval=5.0)
// Calculate support and resistance
highestHigh = ta.highest(high, supportResistanceLength)
lowestLow = ta.lowest(low, supportResistanceLength)
// Plot support and resistance levels
plot(highestHigh, color=color.red, title="Resistance Level")
plot(lowestLow, color=color.green, title="Support Level")
// ATR for stop-loss and take-profit calculations
atr = ta.atr(atrLength)
// Candlestick patterns
isBullishPinBar = (close > open) and ((high - close) > 2 * (close - open)) and
((close - open) > (low - open))
isBearishPinBar = (open > close) and ((open - low) > 2 * (open - close)) and ((open
- close) > (close - high))
isBullishEngulfing = close > open[1] and open < close[1]
isBearishEngulfing = close < open[1] and open > close[1]
// Breakout signals
breakoutAboveResistance = ta.crossover(close, highestHigh)
breakoutBelowSupport = ta.crossunder(close, lowestLow)
// Buy and sell conditions
buySignal = (breakoutAboveResistance or isBullishPinBar or isBullishEngulfing)
sellSignal = (breakoutBelowSupport or isBearishPinBar or isBearishEngulfing)
// Execute trades
if (buySignal)
strategy.entry("Buy", strategy.long, comment="Buy Signal")
strategy.exit("Exit Buy", from_entry="Buy", stop=close - (stopLossATR * atr),
limit=close + (takeProfitATR * atr))
if (sellSignal)
strategy.entry("Sell", strategy.short, comment="Sell Signal")
strategy.exit("Exit Sell", from_entry="Sell", stop=close + (stopLossATR * atr),
limit=close - (takeProfitATR * atr))
// Plot buy/sell signals on the chart
plotshape(buySignal, style=shape.labelup, location=location.belowbar,
color=color.green, size=size.small, title="Buy Signal", text="BUY")
plotshape(sellSignal, style=shape.labeldown, location=location.abovebar,
color=color.red, size=size.small, title="Sell Signal", text="SELL")
