Strategy example

Momentum Cross

Readonly source from tests/EasyLanguage/dorian-draper-learning, generated Pine Script v6, and an expiry-free example EX5.

Convert your script How the full workflow works

Original EasyLanguage

{-------------------------------------------------------------------
Momentum Cross v1
Description:
- Buy when Momentum crosses above 0, Sell when it crosses below 0
- Exit when Momentum changes direction (3 consecutive bars)
- No filters, no limit orders, no stops
- Very basic, not realistic, but good for learning
- Next version will add filters and limit orders
-------------------------------------------------------------------}
Input:
Price(Close),
Length(10),
BullLen(4),
BearLen(4);
Vars:
Mom(0),
BullCx(false),
BearCx(false);
Mom = Momentum(Price, Length);
BullCx = Mom Crosses Over 0;
BearCx = Mom Crosses Under 0;
{Setup de entrada}
If BullCx and MRO(BearCx, BearLen, 1) = -1 Then
Buy Next Bar at Close of This Bar Limit;
If BearCx and MRO(BullCx, BullLen, 1) = -1 Then
SellShort Next Bar at Close of This Bar Limit;
{Setup de salida}
If Mom < Mom[1] and Mom[1] < Mom[2] Then
Sell Next Bar at Market;
If Mom > Mom[1] and Mom[1] > Mom[2] Then
BuyToCover Next Bar at Market;

{-------------------------------------------------------------------	
 Momentum Cross v1

 Description:
 - Buy when Momentum crosses above 0, Sell when it crosses below 0
 - Exit when Momentum changes direction (3 consecutive bars)
 - No filters, no limit orders, no stops
 - Very basic, not realistic, but good for learning
 - Next version will add filters and limit orders

-------------------------------------------------------------------}

Input:
	Price(Close),
	Length(10),
	BullLen(4),
	BearLen(4);

Vars:
	Mom(0),
	BullCx(false),
	BearCx(false);

Mom = Momentum(Price, Length);
BullCx = Mom Crosses Over 0;
BearCx = Mom Crosses Under 0;

{Setup de entrada}
If BullCx and MRO(BearCx, BearLen, 1) = -1 Then
	Buy Next Bar at Close of This Bar Limit;
If BearCx and MRO(BullCx, BullLen, 1) = -1 Then
	SellShort Next Bar at Close of This Bar Limit;

{Setup de salida}
If Mom < Mom[1] and Mom[1] < Mom[2] Then
	Sell Next Bar at Market;
If Mom > Mom[1] and Mom[1] > Mom[2] Then
	BuyToCover Next Bar at Market;

Generated Pine Script v6

//@version=6
strategy("MomentumCross_v1", overlay=true)
// dependencies:
__el_mro(bool test, int length, int instance) =>
int found = 0
int result = -1
for offset = 0 to length - 1
if test[offset]
found += 1
if found == instance and result == -1
result := offset
result
price = input.source(close, "price")
length = input.float(10.0, "length")
bulllen = input.float(4.0, "bulllen")
bearlen = input.float(4.0, "bearlen")
var float mom = 0
var bool bullcx = false
var bool bearcx = false
__el_call1 = ta.mom(price, int(length))
__el_call2 = __el_mro(bearcx, int(bearlen), 1)
__el_call3 = __el_mro(bullcx, int(bulllen), 1)
if bar_index >= 9
mom := __el_call1
bullcx := ta.crossover(mom, 0)
bearcx := ta.crossunder(mom, 0)
if bullcx and __el_call2 == -1
strategy.entry("Buy", strategy.long, limit=close)
if bearcx and __el_call3 == -1
strategy.entry("SellShort", strategy.short, limit=close)
if mom < mom[1] and mom[1] < mom[2]
strategy.close_all(comment="Sell")
if mom > mom[1] and mom[1] > mom[2]
strategy.close_all(comment="BuyToCover")

//@version=6
strategy("MomentumCross_v1", overlay=true)

// dependencies:
__el_mro(bool test, int length, int instance) =>
    int found = 0
    int result = -1
    for offset = 0 to length - 1
        if test[offset]
            found += 1
            if found == instance and result == -1
                result := offset
    result

price = input.source(close, "price")
length = input.float(10.0, "length")
bulllen = input.float(4.0, "bulllen")
bearlen = input.float(4.0, "bearlen")
var float mom = 0
var bool bullcx = false
var bool bearcx = false
__el_call1 = ta.mom(price, int(length))
__el_call2 = __el_mro(bearcx, int(bearlen), 1)
__el_call3 = __el_mro(bullcx, int(bulllen), 1)
if bar_index >= 9
    mom := __el_call1
    bullcx := ta.crossover(mom, 0)
    bearcx := ta.crossunder(mom, 0)
    if bullcx and __el_call2 == -1
        strategy.entry("Buy", strategy.long, limit=close)
    if bearcx and __el_call3 == -1
        strategy.entry("SellShort", strategy.short, limit=close)
    if mom < mom[1] and mom[1] < mom[2]
        strategy.close_all(comment="Sell")
    if mom > mom[1] and mom[1] > mom[2]
        strategy.close_all(comment="BuyToCover")

Compiled MetaTrader 5 example

The EX5 uses the original script filename stem and has no PineAnywhere expiration guard.

Download MomentumCross_v1.ex5