Features Take Profit, Stop Loss, and Plot Target inputs. As well as many inputs to manage how the and Smoothed are configured within the strategy.
Explanation of all the inputs
Take Profit %: % change in price from position entry where strategy takes profit
Stop Loss %: % change in price from position entry where strategy stops losses
Lookback Period: # of candles used to calculate
Buy Below Lowest Low In Divergence Lookback Target %: % change in price from lowest candle in divergence lookback if set
Source of Buy Below Target Price: Source of price (close, open, high, low, etc..) used to calculated buy below %
Smoothed Lookback Period: # of candles used to calculate
Currently Below: Value the current must be below to trigger a buy
Divergence Lookback Period: # of candles used to lookback for lowest in the divergence lookback period
Lowest In Divergence Lookback Currently Below: Require the lowest in the divergence lookback to be below this value
Sell Above: If take profit or stop loss is not hit, the position will sell when rises above this value
Minimum SRSI Downtrend Length: Require that the downtrend length of the SRSI be this value or higher to trigger a buy
Smoothed Currently Below: Value the current SRSI must be below to trigger a buy
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.