Weekly Triple-Confirmation Strategy with Swing Stops and Partial Exits

Summary

This Pine Script outlines a long-only strategy intended for weekly charts. It enters when the closing price lies between two Hull moving averages, the MACD histogram is below zero, and both a nine-period RSI and its short moving average cross above a longer RSI weighted moving average. A confirmed weekly pivot low supplies the stop reference, while the profit target is the highest high over a configurable lookback, excluding the current bar.

The visible code also sets up daily percentage-change data and configurable partial-exit and re-entry triggers, alongside a commission assumption and position tracking. However, the document cuts off before the daily-trigger logic is shown, so the actual partial-exit, re-entry, and position-sizing behavior cannot be assessed. It provides no backtest results or evidence of profitability. The script requires a weekly chart for its indicators and uses daily data for the additional triggers; execution, instrument choice, and parameter robustness are not evaluated here.

Key ideas

• The long entry requires price between two Hull moving averages, a negative MACD histogram, and simultaneous RSI crossovers.
• A confirmed weekly pivot low is used as the stop reference, and a prior-high lookback sets the target.
• The script defines daily gain and loss thresholds for partial exits and re-entry, but the document ends before showing their implementation.
• No performance results are provided, and the strategy is intended to run on a weekly chart.

Tags

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