Sure! To convert a TradingView indicator into a strategy in Pine Script version 5, we need to follow your instructions closely. Below is a template that demonstrates how to convert an indicator into a strategy while adhering to your requirements.
Example Indicator Code
Let's assume we have a simple moving average crossover indicator as our starting point. The indicator plots two moving averages and generates buy signals when the short moving average crosses above the long moving average.
//@version=5
indicator("Simple MA Crossover", overlay=true)
shortMA = ta.sma(close, 9)
longMA = ta.sma(close, 21)
plot(shortMA, color=color.blue, title="Short MA")
plot(longMA, color=color.red, title="Long MA")
buySignal = ta.crossover(shortMA, longMA)
plotshape(buySignal, style=shape.labelup, location=location.belowbar, color=color.green, size=size.small, title="Buy Signal")
Converted Strategy Code
Now, let's convert this indicator into a strategy while following your instructions:
//@version=5
strategy("Simple MA Crossover Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent, commission_value=0.1, slippage=3)
// Define the moving averages
shortMA = ta.sma(close, 9)
longMA = ta.sma(close, 21)
// Plot the moving averages
plot(shortMA, color=color.blue, title="Short MA")
plot(longMA, color=color.red, title="Long MA")
// Define the buy signal
buySignal = ta.crossover(shortMA, longMA)
// Execute the buy order
if (buySignal)
strategy.entry("Long", strategy.long)
// Optional: Close the position when a certain condition is met (e.g., when the short MA crosses below the long MA)
// This is just an example; you can modify the exit condition as needed.
if (ta.crossunder(shortMA, longMA))
strategy.close("Long")
Key Changes Made:
- Strategy Initialization: The
strategy() function is used instead of indicator(), with parameters for commission and slippage.
- Entry Logic: The strategy only goes long when the buy signal is triggered.
- Exit Logic: An exit condition is added to close the long position when the short MA crosses below the long MA. This is optional and can be modified based on your requirements.
- Plotting: The moving averages are still plotted for visual reference.
Notes:
- Ensure that the logic for entering and exiting trades aligns with your trading strategy.
- You can customize the moving average lengths or any other parameters as needed.
- If you have a specific indicator in mind, please provide the code, and I can help you convert that specific indicator into a strategy.