OPEN-SOURCE SCRIPT
Updated RSI+OBV
this strategy works on the basis of crossovers of RSI at different period and OBV at different periods (separately). I am using it for Nifty and Bank Nifty. Entry for long can be taken when green bar appears; and exit has to be done when it disappears. Entry for short has to be taken when red bar appears; and exit has to be done when it disappears.
With little help from price action good results can be achieved.
With little help from price action good results can be achieved.
Release Notes
this strategy works on the basis of crossovers of RSI at different period and OBV at different periods (separately). I am using it for Nifty and Bank Nifty . Entry for long can be taken when green bar appears; and exit has to be done when it disappears. Entry for short has to be taken when red bar appears; and exit has to be done when it disappears.With little help from price action good results can be achieved.
Update: OBV length has been changed from 2 to 3 and second RSI length has been changed from 11 to 9.
Release Notes
this strategy works on the basis of crossovers of RSI at different period and OBV at different periods (separately). I am using it for Nifty and Bank Nifty . Entry for long can be taken when green bar appears; and exit has to be done when it disappears. Entry for short has to be taken when red bar appears; and exit has to be done when it disappears.With little help from price action good results can be achieved.
Update: green and red bars have been changed to green and red background. DMI indicator has also been added to identify the breakouts.
Release Notes
this strategy works on the basis of crossovers of RSI at different period and OBV at different periods (separately). I am using it for Nifty and Bank Nifty . Entry for long can be taken when green bar appears; and exit has to be done when it disappears. Entry for short has to be taken when red bar appears; and exit has to be done when it disappears.With little help from price action good results can be achieved.
Update: green and red bars have been changed to green and red background. DMI indicator has also been added to identify the breakouts.
Update1: chart updated
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.