RSI-RENKO Divine Strategy

Live, non-repainting strategy using RENKO and RSI mixed together to multiple types of long and short positions.

- Features -

Live entry direction with trade warnings and alerts
Live trade building buy and sell limits (for buy/sell limits)
Entry location icons as well as pyramid entries (to add to existing position)
Swing trades that keep you in the trade for the maximum possible profit
1 scalp target based on the RSI settings and entry location
Dynamic trailing stop for swings and scalps
Alert conditions for every update and condition change of the strategy (Provided by indicator study)
4 pre-built color themes, including candlestick coloring

This script is used solely for alerts to the RSI-RENKO Divine Strategy, because Trading View still after 3 years of requesting does not provide the ability to use alert conditions inside a strategy script, only an indicator script. This strategy should be used to backtest your settings. Beyond alerts and strategy inputs, the strategy and indicator are identical.

Release Notes

Updated volatile brick algorithm. The strategy should perform better when switching to higher timeframes for low tick brick sizes. It is difficult to garner information from a single time candle that can blast through both the upper and lower next brick thresholds. It takes careful design to maximize the accuracy in these cases.
Renko RSI and Renko Trend Momentum indicators also updated with some neat additions.

Release Notes

Fixed target algos during highly volatile segments or when the selected brick size is small enough where the time rate of brick production is high.
Add check box to toggle visibility of the execution value left triangles.

Release Notes

Updated color themes.

Release Notes

Updated to version 4 Pine.
Live labels now show value price.
Fixed pending renko momentum areas during rapid volatility.
Alerts added to indicator version: Change in Renko Trend Momentum (main trend flips), Pending Renko Trend Momentum Activation, Volatile Brick Production.
New [MISC] areas added to modify the live target/stop/threshold labels and horizontal lines.

Release Notes

Fixed Bugs.

Release Notes

Fixed display bugs.

Release Notes

Improved renko volatile brick production engine.
Added Renko-RSI merge feature.

See Merge feature video here

Release Notes

Updated copyright.
Added member features.

Release Notes

Updated strategy-backtesting.

Release Notes

Fixed OB and OS merge labels.

Release Notes

Updated member features.

Release Notes

Added member features.

Release Notes

Updated member features.

Release Notes

Slight tweak to limit entry algorithm. If an entry is "missed" because the price bounced to fast, there is now a second opportunity to get into the trade under strict conditions.
Updated display for OB/OS value/target areas.

Invite-only script

Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact mortdiggiddy directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.

mortdiggiddy

Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Invite-only script

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.