Strategy based on my cRSI with motive/corrective wave indicator. Please note that it is far from perfect. I use it mostly to help me identify good entry and exit points when combined with my other technical analysis. It misses some obvious points, but on average it does pretty well. The challenge often is indicating when you have sufficient change in the cRSI to know that the trend has changed, that means sometimes it can be a little early or late. It definitely helps take a lot of the guess work out of things. It works better on some equities than others and better on some time frames than others. You just have to play with it. At the minimum, it is a good template to learn how to write your own.
版本注释
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Another attempt to fix a bug with the cRSI. Previous fix caused some waves to be missed. The new fix seems to work with out issue.
版本注释
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As of 11/18/21 a change to how pine seems to work occurred which caused this script to have an out of bounds error. The fix was to add max_bars_back=300 to the study declaration.
Very nice. Have you ever looked into the squeeze indicator on simpler trader? I'd pay to have that indicator on trading view!!
mokhamadalfatih
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Great but got ERROR MAX BAR.....
Dr_Roboto
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@mokhamadalfatih, out of the blue this morning this script stopped working correctly and I don't know why. I am having issues with it also. Maybe it is a TV thing and I will wait and see if it resolves itself. Else, I will have to look into it.
Dr_Roboto
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@mokhamadalfatih, I pushed up what I think is fix. Try using the new version and see if it works for you.
mokhamadalfatih
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@Dr_Roboto, yep " overlay=overlay, max_bars_back=300".... maybe better to make to 2000 bars.. :) ....thanks...
Treck
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This indicator Will Only Work If You Are A Billionaire Who Can Buy And Hold +500 Contracts Of A Stock Or Commodity Continuously
First Of All , It Determines Pretty "Not Bad" Entry & Exit Points , But You've To Be Careful That It Can Give Entry Points Only For A Week
The Bottom Line is : This Script Assume That You Can Buy & Sell Infinite Amounts (That You Can't Control That In Settings Due To Line 954 & 916)
So , It's Classified Under "Maximize The Profit Virtually" , Because Even After Backtesting And Modifying The Code, It Never Balance Longs & Shorts
So I'd Say Never Get Very Happy With This indicator Although I Appreciate The 990 Line Coding , But I Hope It Was Done For Something Useful
Dr_Roboto
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@Treck, I don't disagree. I use to help identify good entry and exit points. It helps bring attention to key events without having to guess. It is no where near perfect, and it is not meant to be something that you can put on autopilot and forget about. I posted it at the minimum to give other people some template code they can use to make their own strategy.
SugarTrader77
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Hi @Treck, thanks for taking the time to feedback.
Maybe my knowledge of the scripting language does not allow me to see clear. But I don't see that is fundamentally not realistic here. Despiste the maxBuyOrderSize setting, it is then to up each trader to size their trade accordingly, correct? Or am I missing something. Thanks
Treck
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@SugarTrader77, Hello, Thanks for your reply.
You are not wrong, the indicator itself in my personal rate is not less than 7/10.
I only warn those people who will set the alerts for this indicator and open their trading platform in another tab, and start waiting for signals and buy/sell without risk/balance management or short-long balancing.
So fundamentally, the indicator doesn't repaint or give fake signals.
It's not just about the order size, it's about when/how to exit.
For example, the signals can be : Long - Long - Long - Short - Long - Short - Short - Short - Short- Short ....
So, the question is: how much can you short or long ? When to exit ? How much to put in each order ? What if it goes short or long, only for quite a long time ? How can you afford +10 consecutive short or long signals ?
SugarTrader77
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@Treck, thanks for feedback. that's what I figure out by studying more the code.
Just good to get your clarification, beginners using it blindly could lead to very disappointing performance. Maybe you could introduce SL by % in order to make it a complete strategy