Anhnga4.0 - Filter Toggle — Strategy by ngamei2912
By ngamei2912
Performance Metrics
- Author: ngamei2912
- Symbol: OANDA:XAUUSD
- Timeframe: 5 minutes
- Net P&L: +1,337.38 USD (+267.48%)
- Win Rate: 64.0%
- Profit Factor: 1.931
- Max Drawdown: 224.86 USD (26.34%)
- Total Trades: 150
Description
INPUTS: 1.5 0.8 (OR 1.6 0.5/0.6)BE=0.45 1 MAs: 35 135 7This Pine Script code defines a trading strategy named **"Anhnga4.0 - Filter Toggle"**. It is a trend-following strategy that uses momentum oscillators and moving averages to identify entries, while featuring a specific "Overextension Filter" to avoid buying at the top or selling at the bottom.Here is a breakdown of how the script works:---## 1. Core Trading Logic (The Entry)The strategy looks for a "perfect storm" of three factors before entering a trade:* **Momentum (WaveTrend):** It uses the WaveTrend oscillator (`wt1` and `wt2`).* **Long:** A bullish crossover happens while the oscillator is below the zero line (oversold).* **Short:** A bearish crossunder happens while the oscillator is above the zero line (overbought).* **Trend Confirmation:** The price must be on the "correct" side of three different lines: the 20-period Moving Average (BB Basis), the 50-period SMA, and the 200-period SMA.* **The Window:** You don't have to enter exactly on the cross. The `Signal Window` allows the trade to trigger up to 4 bars after the momentum cross, provided the trend filters align.## 2. The "Overextension" FilterThis is a unique feature of this script. It calculates the distance between the current price and the **50-period Moving Average**.* If the price is too far away from the MA (defined by the **ATR Limit**), the script assumes the move is "exhausted."* If `Enable Overextension Filter?` is on, the strategy will skip these trades to avoid "chasing the pump."* **Visual Cue:** The chart background turns **purple** when the price is considered overextended.---## 3. Risk Management & Exit StrategyThe script manages trades dynamically using Bollinger Bands and Risk:Reward ratios:| Feature | Description || --- | --- || **Stop Loss (SL)** | Set at the **Lower Bollinger Band** for Longs and **Upper Band** for Shorts. || **Take Profit (TP)** | Calculated based on your **RR Ratio** (default is 2.0). If your risk is $10, it sets the target at $20 profit. || **Breakeven** | A "protection" feature. Once the price moves in your favor by a certain amount (the `Breakeven Trigger`), the script moves the Stop Loss to your entry price to ensure a "risk-free" trade. |---## 4. Visual Elements on the Chart* **Green Lines:** Your target price (TP).* **Red Lines:** Your initial Stop Loss.* **Yellow Lines:** Indicates the Stop Loss has been moved to **Breakeven**.* **Purple Background:** High alert—price is overextended; trades are likely being filtered out.---## Summary of Settings* **BB Multiplier:** Controls how wide your initial stop loss is.* **ATR Limit:** Controls how sensitive the "Overextension" filter is (higher = more trades allowed; lower = stricter filtering).* **Breakeven Trigger:** Set to 1.0 by default, meaning once you are "1R" (profit equals initial risk) in profit, the stop moves to entry.