Perform enough back testing with 1:2R before using in real time.
Entry only on trade on screen symbols, use additional buy/sell alerts to book profit or to trail SL.
I have also added Golden Cross Over of 65 and 21 EMA to have confirmation on trend.
I have added additional custom ATR length and ATR multiplier for your convenience and also added moving average function with RMA, SMA, EMA and WMA.
The trade on symbol will be based on which moving average you select, so please select a moving average which is giving highest profits.
Caution:- only use trade on chart signals to enter the trade and use alternate signals to book profit or trail SL
- Updated the script to pine script version 5.
Changed trend confirmation from single RSI to Double RSI to increase the profitable percentage.
Removed default 50 qty from strategy, now you can any qty.
Added options to select length of RSI and EMAs
- EMAs doesn't affect the strategy, it is just for confirmation.
Back test this strategy on paper trading before trading in real time.
I recommend to keep settings to default for any dynamic stock/currency/crypto/index.
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.