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)