DojiCandle body size RSI-SMMA filter MTF

10 mars 2023

DojiCandle body size RSI-SMMA filter MTF

Hi. I was inspired by a public script written by ahmedirshad419, https://www.tradingview.com/script/58m8mjwG-AI-EngulfingCandle.
I thank him for his idea and hard work.
His script is the combination of RSI and Engulfing Pattern.

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I decided to tweak it a bit with Open IA.
I have changed:
1) candle pattern to DojiCandle Pattern;
2) I added the ability for the user to change the size of the candlestick body;
3) Added SMMA 200;
4) Changed the colour of SMMA 200 depending on price direction;
5) Added a change in the colour of candlesticks, depending on the colour of the SMMA 200;
6) Added buy and sell signals with indicator name, ticker and close price;
7) Added ability to use indicator on multi time frame.

How it works
1. when RSI > 70 > SMMA 200 and form the bullish DojiCandle Pattern. It gives sell signal
2. when RSI < 30 < SMMA 200 and form the bearish DojiCandle Pattern. It gives buy signal

settings:
basic setting for RSI, SMMA 200 has been enabled in the script to set the levels accordingly to your trades

Enjoy