MtxTrader

Gold/Silver 30m Only Strategy Buy/Sell Signals

In my free time I felt like coding this strategy, and after backtesting it, it appears that the 30m time frame is the most profitable.

I only have been working on it for gold , but it should work similarly for silver as well.

This includes no pyramiding, and with pyramiding orders of 5, this strategy is upwards of 100% profitable.

Buy order - when price is above the 162 day EMA and RSI is less than 35

Sell order - when price is below the 162 day EMA and RSI is greater than 65

I will probably be adjusting it to increase the profitability and %success rate.

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?

Comments

I hardly find rsi above 65 when price is below 162 EMA for sell order
+12 Reply