OrangePulse v3.0 Lite - Educational DCA Strategy by OrangePulse
By OrangePulse
Performance Metrics
- Author: OrangePulse
- Symbol: BITSTAMP:BTCUSD
- Timeframe: 1 hour
- Net P&L: +572.36 USD (+5.73%)
- Win Rate: 75.6%
- Profit Factor: 3.719
- Max Drawdown: 411.82 USD (3.91%)
- Total Trades: 90
Description
This open-source script is a simplified version of the OrangePulse algorithm, designed for educational purposes to demonstrate the power of Dollar Cost Averaging (DCA) and Mean Reversion.📈 Strategy Logic:The script uses a combination of Bollinger Bands and RSI (Relative Strength Index) to identify potential mean reversion opportunities. - Entry: Triggered when price pushes below the lower Bollinger Band while RSI is in oversold territory.- Management: Utilizes up to 3 Safety Orders (DCA) to improve the average entry price during pullbacks.🎯 Features:• Customizable Volume Scale and Step Scale for Safety Orders.• Visual AVG price line and TP/SL levels.• Time-window filter for backtesting.• Real-time Status Table for position monitoring.This script is shared in the spirit of open-source development on TradingView. It is intended to help traders understand how automated position building and risk management work in volatile markets.Check my profile status/bio for more information on our project.⚠️ Disclaimer: For educational purposes only. Past performance does not guarantee future results.