mohanee

RSI Divergence Indicator strategy

This strategy is based on RSI divergence indicator.

RSI period setting 5

Go Long when Bull or Hidden Bull is shown

Exit when RSI goes above 75 OR when bear condition appears
Catatan Rilis: just removed the unwanted indicator to make the chart clean ...
Catatan Rilis: cleanup indicators
Catatan Rilis: 1. Look back period default setting updated to 3

2. strategy pyramiding default has been set to 2. (it would allow legging in to existing trade , when the same Long condition is met)
Catatan Rilis: I have added Take profit level parameter. Default value for this one is when RSI reaches 75.

I have tested GOOGL with below settings
> RSI 5, close, 3,1 and 75 which shows 87.21 % win rate and 7.059 profit factor.
> RSI 8, close, 3, 1 and 75 which shows 89.55 % win rate and 8.471 profit factor
> RSI 9, close, 3, 1 and 80 which shows 91.53 % win rate and 30.124 profit factor

Same settings might not work for all symbols , you need to tweak the settings to get the 75% win rate and at least 3 profit factor.

If I increase the take profit level to above 75 or RSI value above 5 , you might get Profit factor high, but number of trades reduces and number of bars in trades is high. I would say RSI above 5 and take profit level 80 and beyond works for Long Term ... (Investing style)

Happy Trading :-)
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Komentar

alerts pleasee
+4 Jawab
mohanee Kushh
@Kushh,

TradingView introduced alerts for strategies ... check it out
https://www.tradingview.com/blog/en/strategy-alerts-are-live-now-18770/
Jawab
Thanks for this great indicator!
I see that on 8 june you've mentioned that TradingView introduced alerts for strategies.
You also have created a new indicator: RSI Divergence indicator (with alerts)

What are the differences between this indicators according to alerts?

Tested this indicator and it did generate alerts on 30m
+1 Jawab
mohanee casacrypto247
@casacrypto247,

I have created the alerts version of indicator before I saw tradingvièw strategy alert feature.

Only difference between indicator and strategy is , strategy takes the position (or triggers alert) on next bar of the signal close.
Jawab
@mohanee, thanks
Do you have any thoughts on the triggering of an alert but without the RSIDivLE sign on the chart.
eg. trigger alert has 4:00pm in the log however no RSIDivLE at 4:00 pm can be seen.

Of the 30min TF and 60 min TF this happens only on the 30min as far as i have tested
Jawab
Hi great script. I do wonder, can it be possible to add a barcolor option ? As when the label appear, it will also show a bar with a different color. Thank again
Jawab
Don't waste your time on this one, it's using pivot at the current candle.
ie : it needs future candles to predict orders at the current one
Jawab
mohanee BusyLightyear
@BusyLightyear,

Yes, In order to find out the divergence it needs forward candles. Even Long signal follows the same.

Exit condition is either BEARish on RSI OR RSI reaching takeprofitlevel which is defailt to 75. RSI5 , so far didnt reach 75, when that happens before the BEARish divergence , it wont need future candles, it simply shows the exit signal. Lets see how it goes ...
Jawab
mohanee mohanee
@mohanee,

And Today GOOGL Long trade closing on RSI bearish signal. (2020-06-16 1455.58 )

for those who concern why delay signal , today is best (it might not occur always). Though bearish was found on 10th Jun , code looked back for that and identified ... but today is gap up ... thats better than exiting on 11th Jun

have fun
Jawab
does it repaint? coz itseems like it repaints
Jawab
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