mohanee

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

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 ...

Happy Trading
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