MomGulfing is a simple momentum and candlestick pattern based trading strategy. Developed on TradingView with PineScript

• RED -> GREEN,
• Green close > previous red high,
• Green candle volume > previous red candle volume

• RED -> GREEN -> GREEN
• First green close < previous red high,
• Second green close > previous red high,
• Second green candle volume > previous red candle volume

• RED -> GREEN -> GREEN -> GREEN
• First green close < previous red high,
• Second green close < previous red high,
• Third green close > previous red high,
• Third green candle volume > previous red candle volume

• GREEN -> RED,
• Red close < previous green low,
• Red candle volume > previous green candle volume

• GREEN -> RED -> RED
• First red close > previous green low,
• Second red close > previous green low,
• Second red candle volume > previous green candle volume

• GREEN -> RED -> RED -> RED
• First red close > previous green low,
• Second red close > previous green low,
• Third red close < previous green low,
• Third red candle volume > previous green candle volume

• First candle's low (for long positions) or high (for short positions) is stop level
• Take profit level based on Risk-reward: 2.5 (default setting)
• Leverage is 80/stop_loss_percent. Strategy uses all risk amount for the position. (If risking 1% of portfolio, enter position with that amount)
• Default pyramiding is 3
• Update take profit/stop loss levels at each signal.

For more details check momgulfing.pine file

Default parameters are used in all backtests, on daily charts. Backtest period: 2021-01-01 -> 2022-12-31

MomGulfing Strategy

• Momentum Trading
• Candlestick Patterns

MIT