Tags: RPNATION1/Tradingalgos
Tags
Rename BTC Breakout Short Selling with Hedge to BTCBreakoutShortHedge… ….pine This TradingView Pine Script is a strategy for trading Bitcoin (BTC) based on breakouts and short selling, with a hedging component. The key features of this strategy are: Input parameters: The script takes several input parameters, including ATR Length, Breakout Lookback Length, Hedge Ratio, Stop Loss Multiplier (ATR), and Take Profit Multiplier (ATR). Average True Range (ATR): The script calculates the ATR using the specified ATR Length. Breakout identification: The script identifies breakouts by comparing the close price to the lowest low in the given Breakout Lookback Length. Entry conditions: A short position is opened when a breakout is detected. Stop Loss and Take Profit levels: The script calculates stop loss and take profit levels based on the ATR and the specified multipliers. Strategy execution: The script enters a short position when the entry condition is met and sets the stop loss and take profit levels accordingly. Hedging position: The script also enters a long position (hedge) when the short position is opened, using the specified Hedge Ratio to determine the size of the long position relative to the short position.