When indicator crossing over 30 or 35 line and price above slow
Note: when the position already taken, you may reenter on the purple candle
Partial profit taking option is available in settings. If this is selected , 1/3 position exited when indicator crossing down 80 line
When indicator crossing below 15
I havent used hard stop loss in this strategy. Reason is , when price going down , indicator may go up ... so just wanted to ride along with indicator ...
Stop loss mentioned in the settings is used in calculation of how many units can be be purchased based on risk level
Tested with SPY and QQQ ETFs on hourly chart
For the eductional purposes only ...
This is not a financial advise. please do your own research before taking any trading decission
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.
On TV , strategy bottom of the screen click on clock icon