Ribbon Multi-Timeframe
Ribbon Multi-Timeframe is a strategy that trades GBPUSD on 15-minute bars.
uses a library or indicator
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strategy "Ribbon Multi-Timeframe"2
market: GBPUSD3
bars: 15m4
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use indicator "Trend Ribbon" v3 as ribbon (fast: 10, slow: 30)6
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ribbon_4h = ribbon.on(bars: 4h)8
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when ribbon_4h.up and crosses_above(close, ribbon.fast) and ribbon.strength > 0.5:10
buy risk: 1%, stop: atr(14) * 1.5, target: 2R11
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when ends(ribbon.up):13
close_all side: longWhat this script says
Ribbon Multi-Timeframe is a strategy that trades GBPUSD on 15-minute bars.
It uses the indicator "Trend Ribbon" (version 3) as ribbon, with fast set to 10 and slow set to 30.
It calculates ribbon_4h as ribbon.on(bars: 4h).
When ribbon_4h.up and the close crosses above ribbon.fast and ribbon.strength is above 0.5, it buys at market, risking 1% of the balance, with a stop 1.5 × the 14-bar ATR from the entry and with a target 2R from the entry.
When ribbon.up stops being true, it closes all long trades.
This description may be incomplete because the script has errors.