what it does? it gives buy or sell signals according to RSI Divergences. it also has different variables such as "take profit", "stop loss" and trailing stop loss.
how it does it? it uses the "RSI Divergence" indicator to give signal. For detailed information on how it works, you can visit the link above. The quantity of the inputs is proportional to the rsi values. Long trades are directly traded with "RSI" value, while short poses are traded with "100-RSI" value.
How to use it? The default settings are for scalp strategy but can be used for any type of trading strategy. you can develop different strategies by changing the sections. It is quite simple to use. RSI length is length of RSİ source is source of RSİ RSİ Divergence lenght is length of line on the RSI The "take profit", "stop" and "trailing stop" parts used in the "buy" group only affect buys. The "sell" group is similarly independent of the variables in the "buy" group. The "zoom" section is used to enlarge or reduce the indicator. it only changes the appearance, it does not affect the results of the strategy.
dont use trailing in strategy backtest on tradingview, this will make your strategy repaint
faytterro
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@Toniqhz, yes, we were very excited about this strategy at the time, We thought we'd be rich, but we ran into a problem when we tried to use it. it seems that tradingview miscalculates when the trailing stop loss is too low. so the returns appearing here are not real. but there is no mistake in the codes, if you don't lower the trailing stop loss too much, you can still use it.
v7778
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@faytterro, hi,i wonder how lower the trailing stop is suitable,1% or 1.5%?
There must be some mistake, it's too profitable, I set it with 200 dollars of initial capital and it starts with a profit of more than 18,000 dollars
mailbox9369
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HI i am new to trade view can someone please help me how to read this script , i can see in chart like +long 48 -48 exit long , issue is it shows both calls shows in same candle (5m) , how can read them
pakintade
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This is dope!
ramontillo
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hi, is it possible define a new range of backtesting? i'd like to see how it works only in the last 2 months thank you
Updated: Found it.