//@version=4
strategy("3 Candle Compression Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=100)

// Pull prices from 4h timeframe

highprice = security("BITMEX:XBTUSD", '240', high)
lowprice = security("BITMEX:XBTUSD", '240', low)
openprice = security("BITMEX:XBTUSD", '240', open)
closeprice = security("BITMEX:XBTUSD", '240', close)

highpricep = security("BITMEX:XBTUSD", '240', high[1])
lowpricep = security("BITMEX:XBTUSD", '240', low[1])
openpricep = security("BITMEX:XBTUSD", '240', open[1])
closepricep = security("BITMEX:XBTUSD", '240', close[1])

// Define range

insidecandle = highprice < highprice[1] and lowprice > lowprice[1]

insidecandlep = highpricep < highpricep[1] and lowpricep > lowpricep[1]

rangecompression = insidecandle and insidecandlep

//Time condition

isMon = dayofweek(time('D')) == dayofweek.monday
isTue = dayofweek(time('D')) == dayofweek.tuesday
isWed = dayofweek(time('D')) == dayofweek.wednesday
isThu = dayofweek(time('D')) == dayofweek.thursday
isFri = dayofweek(time('D')) == dayofweek.friday

tradingsession = isMon or isTue or isWed or isThu or isFri

// Long and Short structure

longhigh_cond = highprice

longhighprice = 0.0
longhighprice := rangecompression ? longhigh_cond : longhighprice[1]

shortlow_cond = lowprice

shortlowprice = 0.0
shortlowprice := rangecompression ? shortlow_cond : shortlowprice[1]

// Long/Short conditions

breakout = crossover(close, longhighprice)
breakdown = crossunder(close, shortlowprice)

bullprice = close > longhighprice
bearprice = close < shortlowprice

paintgreen = bullprice
paintyellow = longhighprice > close and close > shortlowprice
paintred = bearprice

plot(longhighprice, color = color.green, linewidth=3)
plot(shortlowprice, color = color.red, linewidth=3)

barcolor(paintgreen ? color.green : na)
barcolor(paintyellow ? color.yellow : na)
barcolor(paintred ? color.red : na)

///////// STOP LOSS /////////

// Pull prices from 1D timeframe

highpricesl = security("BITMEX:XBTUSD", '1440', high)
lowpricesl = security("BITMEX:XBTUSD", '1440', low)
openpricesl = security("BITMEX:XBTUSD", '1440', open)
closepricesl = security("BITMEX:XBTUSD", '1440', close)

highpricepsl = security("BITMEX:XBTUSD", '1440', high[1])
lowpricepsl = security("BITMEX:XBTUSD", '1440', low[1])
openpricepsl = security("BITMEX:XBTUSD", '1440', open[1])
closepricepsl = security("BITMEX:XBTUSD", '1440', close[1])

// Define range for stoploss

insidecandlesl = highpricesl < highpricesl[1] and lowpricesl > lowpricesl[1]

insidecandlepsl = highpricepsl < highpricepsl[1] and lowpricepsl > lowpricepsl[1]

rangecompressionsl = insidecandlesl and insidecandlepsl

// Long stoploss and short stoploss

longhigh_condsl = highpricesl

longhighpricesl = 0.0
longhighpricesl := insidecandlesl ? longhigh_condsl : longhighpricesl[1]

shortlow_condsl = lowpricesl

shortlowpricesl = 0.0
shortlowpricesl := insidecandlesl ? shortlow_condsl : shortlowpricesl[1]

//plotshape(bullpricesl, color=color.red, style=shape.xcross, location=location.abovebar, size=size.small)
//plotshape(bearpricesl, color=color.green, style=shape.arrowup, location=location.belowbar, size=size.large)

// CREATE ORDERS

// Long order

strategy.entry("long", strategy.long, when = breakout and tradingsession)

// Stoploss Long

breakoutsl = crossover(close, longhighpricesl)
bullpricesl = close > longhighprice and crossunder(close, shortlowpricesl) or close < shortlowprice

strategy.close("long", when = bullpricesl)

// Short order

strategy.entry("short", strategy.short, when = breakdown and tradingsession)

// Stoploss short

breakdownsl = crossover(close, shortlowpricesl)
bearpricesl = close < shortlowprice and crossover(close, longhighpricesl) or close > longhighprice

strategy.close("short", when = bearpricesl)