I have added a filter (long term RSI) to the Rules. strategy BUYs when RSI 50 period is above 50 line and there is divergence on the short term RSI
settings ========= short term RSI period 5 long term RSI period 50 stopLoss is 8% --- if setting is enabled
BUY Rule ======== RSI 50 is above 50 line short term RSI is showing divergence
Add to existing ============== if already in position, BUY when shorTermRSI is crossing above 20
TakeProfit ========= when longTermRSI reaches 60,65, 70 and 75 level , take partial profits . (not when crossing down --- This may affect on profits , because when price goes down , it goes very fast )
Exit ===== when longTermRSI is crossing down 30 OR stopLoss value hits
Note: When I tested this with GOOGL stock , I have got excellent results ... any experts there , please check everything is good with scripting ...
@mohanee, 15 min, check it out it seems quite accurate (bull - hbull). Probably the "Prepare for long" and "Take profit" should be adjusted but divergences are ok. In my opinion if you can calculate better the entry and exit points adjusting them to BTC you have a perfect scalper. Just an idea for a new script, cryptocurrencies are now very popular
Mass1q
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@mohanee, Updated: timeframes for BTC I tested and that work good: 5,15 and 45 min. To bad sometimes are pretty late to show up in the chart but they mark pretty well the uptrends
pollyamponsah
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hi does this function well with currencies and on all timeframes
mohanee
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@pollyamponsah, I have not tested it on currencies. Please check yourself and see what is the winning rate and profit factor.