A Simple Long Strategy with a Fixed Profit Target

Summary

This short Pine strategy opens a long position when the open crosses above the close, then places a limit exit at the average entry price plus a fixed amount. Its inputs also include a maximum loss percentage, but the corresponding stop-loss code is commented out, so that setting has no effect. The script therefore illustrates a basic entry and take-profit setup, with an inactive stop-loss parameter.

The document provides source code and default input values, but no results or analysis showing how the strategy performs. The entry condition compares open and close, so it is not a conventional price breakout or a recurring trend signal. The profit offset is expressed as a price amount, not a percentage. Its usefulness is consequently limited to understanding the mechanics; the document does not establish profitability, risk control, or suitability for any market.

Key ideas

• The strategy enters long when the open crosses above the close.
• It sets a limit exit at average entry price plus a fixed price amount.
• The maximum-loss input is unused because the stop-loss code is commented out.
• The document provides no backtest results or evidence of profitability.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.