MACD Signal with RSI Indicating Strategy

This strategy looks for MACD signal crossover and RSI confirmation of oversold/overbought condition.

Tune to your crypto/stock for best results using the strategy and sent an alert. Currently set up to use 25% of equity at each buy signal and will sell 1/3 of position at each sell signal. Initial investment is $1000, but adjust as necessary.

Currently tuned to DOGEUSD on 30min chart.

If you like/use/profit, follow me or shoot me a donation. If you are looking for a script design, I can help.
Release Notes: Made some edits to the strategy to display current holdings label on chart, user max holding limit, and user set sell rates (all holding, 1/2 holding, 1/3, holding, or 1/4 holdings) as the sell orders hit. These tweaks help make the strategy more applicable to other stocks/crypto.

Donate/Like/Follow/message for more scripts.
Open-source script

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.

Want to use this script on a chart?


Thank you for helping out those of us who are trying to learn more coding. What is the function of subsetting the close variable with the indexing operator starting with "[". I don't understand how it works since my understanding is that the script executes once per historical bar, thereby suggesting close is an atomic value
Thank you smartstang23. I've been doing some testing and find out the strategy to work well on uptrends but not so good on the short side. Is it possible to use it also for short positions?
smartstang23 wmandarim
@wmandarim, I had similar results. I use the 30m and 1h to smooth out the indicators with this strategy. I have added dynamic variables to this script that predict where it is uptrending and downtrending rather than just MACD/RSI levels.
the convergence of the macd and the signal can not be traded, this is a period of uncertainty. take this into account in the strategy and set the limits of the collapse of the RSI for all periods
smartstang23 yaro.andrey
@yaro.andrey, Excactly! I have another version of this script with some dynamic variables that determine trending areas
I have 2 RSI based swing algos on Doge but they stay open far too long, looking for something that executes a little quicker.
this looks great - have you run it live yet?
smartstang23 CryptoConexTrading
@CryptoConexTrading, Not yet, with the downtrend I was just holding and waiting to see how this does with how I set it up. I do have alerts set on it so I know when to look. I'm planning to try this on a long term trade schedule since the RSI is a not the perfect indicator for which direction the market moves.

Looking to add trend recognition or a fibonacci retractment piece to determine overall direction with better buy points.