StochRSI and RSI Strategy by Bluephantom

oscillator relativestrengthindex stochasticrsi trendanalysis stoploss strategy

This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point.
It also uses the RSI to determine a profit taking point or exit point from the trade.

This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in higher trading time frames like Daily and Weekly.

I have also added the function of selecting the time frame for which the strategy is applied to.

Release Notes:

I've added a stop loss function to the strategy using JayRogers's "Strategy Code Example - Risk Management" script.

NB: Be aware that while the strategy tester shows a very positive result by back testing it doesn't mean it will have the same results in the future.

I created this strategy for my own personal coding education and it shouldn't be used as financial advice.

Release Notes:

Minor fixes.

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Bluephantom for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

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