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
릴리즈 노트
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just removed the unwanted indicator to make the chart clean ...
릴리즈 노트
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cleanup indicators
릴리즈 노트
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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)
릴리즈 노트
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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 :-)
릴리즈 노트
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I have added parameter to trail stop loss. if this is selected , position will be exited based ATR length and multiplier value.
When the position exits on Trailing Stop Loss , it displays comment TSL on the chart.
릴리즈 노트
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Trailing stop Loss setting and calculation fine tuned.
if you select Trailing Stop Loss ATR => Trailing stop loss is calaculated based on ATR length and ATR multiplier PERC => Trailing Stop Loss calculated based on PERC mentioned in Stop Loss setting NONE => This si default behaviour as published in original script
Hi friend, great job. Can the indicator remember the best parameters for different instruments on different timeframes? Perhaps a local/remote database? Is it possible to use a shared database ?
Is it possible to automatically select the best parameters (heat map)?
mohanee
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@ploskutovme, you can test various equities or symbols and find the best suitable parameters. Once that is domes you can program them in the code.
Forex-Signals-1000-pips
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@mohanee, I just used the replay bar and noticed the Bull, Bear, H Bear, and H Bull appear after three candles have passed. Is there a way to have it appear after the candle indicating Divergence has closed?
Does no good 3 candles later
jgvansickle
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@newhomejax, I agree, on lower timeframes 3 candles is a LOT. This code and all others use the lookback in the code. I can adjust it to lower numbers but then the divergence notification just plain disappears. no-one seems to just look a higher-high vs lower-high etc. then alert for divergence and let us follow it.
Forex-Signals-1000-pips
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@jgvansickle, It didn't even pick up on RSI Divergence on TSLA last week in a timely matter.
BlackDogs62
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@jgvansickle, People.. Finding a pivot point requires lag.. The shorter the lag the more result => less reliable... Almost every indicator has this flaw. How many candles does it take for you to see divergence? If you have a solution please let me know.. I have been looking for a solution for a while.
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 ...
Can the indicator remember the best parameters for different instruments on different timeframes?
Perhaps a local/remote database? Is it possible to use a shared database ?
Is it possible to automatically select the best parameters (heat map)?