Pine Script Strategy Reviewer

I have reviewed your Pine Script snippet. The use of the close series with lookahead=barmerge.lookahead_on at a higher timeframe is a primary source of lookahead bias, as it pulls the daily close price before the daily bar has actually completed on your chart's timeframe.

Pine Script Strategy Review

🚨 Critical Flaws Detected:

Lookahead Bias in request.security: Your script accesses the close of the Daily timeframe while lookahead is enabled. In a backtest, this allows the script to know the final daily closing price at the start of the day, creating unrealistic "perfect" entries that cannot exist in live trading.

📊 Execution & Alert Logic:

Slippage: The snippet does not account for slippage. Daily timeframe execution often incurs significant gaps that will deviate from the theoretical price.

• Alerts: No alert logic detected in this snippet.

🛠️ The Fix:
To fix this, you should use the previously closed daily price (close[1]) or ensure the security call is handled as a non-repainting tuple.

// @version=5
indicator("Non-Repainting Daily Close", overlay=true)

// The fix: use close[1] to ensure we only use data known at the start of the bar
// This prevents the script from "seeing the future" daily close.
dailyClose = request.security(syminfo.tickerid, "D", close[1], lookahead=barmerge.lookahead_off)

plot(dailyClose, color=color.new(color.blue, 0), title="Confirmed Daily Close")

Next steps

1. Replace your current request.security line with the corrected version above.
2. Re-run your Strategy Tester; you will likely see the "true" performance without the lookahead inflation.
3. Add slippage = 2 to your strategy() declaration to account for market impact.

[Self-Check]

• Repainting and lookahead bias strictly evaluated
• Execution realism (slippage/spread) assessed
• Alert/Webhook logic reviewed
• Corrected code provided for any flaws found