APIBridge, TradingView
Strategy Premise
The Bear Sling is obviously the opposite of the slingshot. It Uses Consecutive Sling Shot Strategy It uses 38 EMA and 62EMA as the main components. Once the 38 EMA is Greater Than the 62 EMA, long position, and 38EMA is Less Than 62 EMA Shot Position
Strategy Logic
Long Entry: When 38 EMA is Greater Than 62 EMA, Send LE
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and 62 EMA Less Than 38 EMA Send LX, SE
Short Entry: When 38 EMA is Less Than 62 EMA, Send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and 62 EMA is Greater Than 38 EMA, SX, LE
CM Sling Shot Strategy Parameters for TradingView Charts
Intraday Trade Session: Entry Trade Will be Taken only in this session.
EXIT Session: Trades will be squared off in this timeframe
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
TradingView Settings
1st STEP: Download The Pine Script Algo here
2nd STEP: Open desired Chart in trading View with normal Candlestick, Select desired timeframe of the chart, Go to the pine editor section, remove the default code, paste the downloaded code, save the file and chart
3rd STEP: Once Strategy is applied to the chart, click on settings to optimize parameters for your own trading.
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.
NOTE: The pinescript works both with webhook alerts (TV Pro plan) and normal popup alerts (TV free plan).
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