munsifk

strategy MACD and RSI alert fixed

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I notice that my previous request for help has gathered alot of attention. This is the fixed alert for anyone who wants it, sorry it has been so long since the initial video but I have been super busy with exam work.
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study(title="Strategy MACD and RSI alert", shorttitle="Strategy MACD and RSI alert", overlay = false )
fastLength = input(8, minval=1)
slowLength = input(16,minval=1)
signalLength=input(11,minval=1)
hline(0, color=purple, linestyle=dashed)
fastMA = ema(close, fastLength)
slowMA = ema(close, slowLength)
macd = fastMA - slowMA
signal = sma(macd, signalLength)

Length = input(10, minval=1)
Oversold = input(49, minval=1)
Overbought = input(51, minval=1)
xRSI = rsi(close, Length)



pos = iff(xRSI > Overbought and signal < macd, 1,
        iff(xRSI < Oversold and signal > macd, -1, nz(pos[1], 0))) 
        
poschange = (pos[1] == -1 and pos == 1) or (pos[1] == 1 and pos == -1 ) ? 1 : 0  
barcolor(pos == -1 ? red: pos == 1 ? green : blue)

//plot(pos, title="pos", style=line, linewidth=1, color=red )
plot(poschange, title="change of colour alert", style=line, linewidth=1, color=yellow )
Can you teach me how it works? I am a programmer and new to trading. TIA.
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munsifk GMOTruths
You want to know how to set up the alerts? or how the internals of the indicator work?
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Love this setup, works a treat. Here's how I display mine for trading bitcoin. Still not too sure how to set an alert though.

snapshot
+1 Reply
munsifk Arcadia
http://videos.tradingview.com/video/114269353

This will tell you
+1 Reply
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