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APIBridgeTradingView

Strategy Premise

The Bear Sling is obviously the opposite of the slingshot. It Uses Consecutive Sling Shot Strategy   It uses 38EMA and 62EMA as the main components. Once the 38EMA is Greater Than the 62EMA,  long position, and 38EMA is Less Than 62EMA  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

STEP 1: Download The Pine Script Algo here

STEP 2: 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 to chart

STEP 3: 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).