This strategy buy at the next open when close = low. Then it closes the position after either a small profits OR a (very) small losses. Works with several TF
//@version=2 strategy("IBS", initial_capital=10000, overlay=false, pyramiding=5, default_qty_value=100, currency="USD") //strategy.risk.allow_entry_in(strategy.direction.long) src = close ibs = (close - low) / (high - low) * 100 longCondition = ibs <5 if (longCondition) strategy.entry("My Long Entry Id", strategy.long) //shortCondition = close > high[1] shortCondition = ibs > 99 if (shortCondition) strategy.entry("My Short Entry Id", strategy.short) p = close * 0.01 * 10 strategy.exit("exit", "My Long Entry Id",profit = 10, loss=2) strategy.exit("exit", "My Short Entry Id",profit = 10, loss=2)