Reusable Trading Strategy Template with Loss Controls and Flexible Exits

Summary

This Pine Script document begins a reusable strategy template that lets a trader configure long and short trading separately, restrict entries by session, and choose among swing-based, percentage-based, or ATR-based trailing exits. It also exposes settings for static versus trailing stops and for calculating trails from intrabar movement or closed bars. The visible defaults include a streak-loss control that can pause trading for a chosen timeframe after a configured number of consecutive losses, and a maximum drawdown setting.

The material is a code template rather than a complete trading system: the excerpt ends before the full exit implementation and user-defined entry conditions are shown. It supplies no strategy signals, backtest evidence, or discussion of how the controls behave in live execution. The ideas are useful as configurable risk and execution safeguards, but traders would need to inspect the complete script and test assumptions such as session time handling, stop updates, and drawdown measurement before relying on them.

Key ideas

• The template allows long and short entries to be enabled or disabled independently.
• Separate session inputs can limit the hours when long and short entries are allowed.
• A loss-streak control can pause trading for a selected timeframe after consecutive losses.
• Exit settings include swing, percentage, or ATR trails, with static or trailing stop choices.
• The excerpt does not include the full strategy logic or any evidence from backtesting.

Tags

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