RSI5_50 with Divergence

This is variation of RSI Divergence strategy.

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

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

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 )

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 ...

Happy Trading
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


Seeing how it performs in other graphics, and your code, I would say that as long as Google keeps going up infinitely you will be rich, but any drawdown can liquidate you in an instant, except that your initial capital is so large and can handle all the combined drawdowns,and if the thend goes down just keep loosing money in any other time frame, also it is necessary to insert data such as commissions and slippage, with these data the risk increases a lot, and the performance falls but more than anything in small periods.
and you were without any operation from 2018 to 2020 in de 1d chart, if you can live on savings or work for 2 years :) it would be fine.
My conclusion is that if you can identify a long-term up trend, it would be good to apply, but once it becomes bearish, stop using the strategy, of course it is difficult to predict that .
mohanee KevinToriumi
That's the reason stop loss need to be in place ... You can check it in settings window .. with that stop loss in place ...
Coming to the capital you can change the numbers in settings

With above settings changed , If you are not getting better results ... simply skip it...
mohanee mohanee

And one of the condition was Rsi 50 above 50 line, that already confirms the long trend. You can see that by placing moving average to the chart ...
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out