OPEN-SOURCE SCRIPT
1m Leading Indicator Strategy - Deep Research
How it works: The code first sets up the strategy and inputs. It then calculates the stochastic %K and %D lines based on the chosen length and smoothing periods. Next, it defines the buy and sell conditions using a crossover (K > D) or crossunder (K < D) of those lines, specifically requiring the previous state to be oversold or overbought for higher confidence signals. When conditions are met, strategy.entry() is used to take a position. The logic includes safeguards to close any opposite position before entering a new one, and respects the user’s choice of allowing long/short trades. Finally, the plotshape functions draw the signal markers on the chart (if enabled), using color-coded labels for clarity.
Usage and Tips
Applying the Script: Use this script on a 1-minute chart of your chosen stock or index. Because it’s optimized for very short-term moves, using it on higher timeframes may require parameter adjustments.
Interpreting Signals: A green “BUY” label indicates a potential upward reversal — consider going long or closing shorts. A red “SELL” label indicates a potential downward reversal — consider going short or taking profit on longs. Always confirm signals with your own analysis or additional context if possible (e.g., major trend direction or support/resistance levels) since no indicator is infallible.
Backtest Results: After adding to chart, open the Strategy Tester in TradingView. You’ll see metrics like total net profit, percentage wins, profit factor, etc. Use these to gauge the strategy’s performance. You can also inspect the list of trades to see where each buy/sell happened and how much was gained or lost.
Fine-Tuning: Adjust the input parameters to improve performance. For instance, if the strategy is catching reversals too late, you might lower the oversold (maybe 15) and overbought (maybe 85) levels or shorten the length slightly. If it’s getting false signals (e.g., in a choppy range), you might raise the thresholds or increase the smoothing period. Every market behaves differently, so a bit of optimization can go a long way. Remember that generally a 14-period is standard but can be modified to change sensitivit
Usage and Tips
Applying the Script: Use this script on a 1-minute chart of your chosen stock or index. Because it’s optimized for very short-term moves, using it on higher timeframes may require parameter adjustments.
Interpreting Signals: A green “BUY” label indicates a potential upward reversal — consider going long or closing shorts. A red “SELL” label indicates a potential downward reversal — consider going short or taking profit on longs. Always confirm signals with your own analysis or additional context if possible (e.g., major trend direction or support/resistance levels) since no indicator is infallible.
Backtest Results: After adding to chart, open the Strategy Tester in TradingView. You’ll see metrics like total net profit, percentage wins, profit factor, etc. Use these to gauge the strategy’s performance. You can also inspect the list of trades to see where each buy/sell happened and how much was gained or lost.
Fine-Tuning: Adjust the input parameters to improve performance. For instance, if the strategy is catching reversals too late, you might lower the oversold (maybe 15) and overbought (maybe 85) levels or shorten the length slightly. If it’s getting false signals (e.g., in a choppy range), you might raise the thresholds or increase the smoothing period. Every market behaves differently, so a bit of optimization can go a long way. Remember that generally a 14-period is standard but can be modified to change sensitivit
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