This strategy is based on RSI and ATR Bands which works better in 5 and 15 Mins time frame. 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.
Release Notes
⋅
Hi All,
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
Release Notes
⋅
Updates:-
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
Note:-
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.
Release Notes
⋅
Corrected the bug from previous version for EMA Lengths.
Hi, I am so new at this, I'm still at the frustrated level. Please someone reply, where is the buy sell indicator? Where do I apply it?
vinaykvkumarkv
⋅
@gargamoth1st, if you are new I would recommend you to learn price action first before entering into any indicators . Because all indicators lag on price action. This indicator is for pure scalping , so don't use it if you are not aware of basics.
when i choose BTC-USDT in 1min time frame i get %412 profit but when i change the time frame to 5 min i get %546 loss Why so much difference?
VinayKumarKV
⋅
@mahmood_crypto, I have not scripted it for any certain stock/crypto it gives different win rate for different stocks/crypto/Index at different timeframe. Please customize your setup to yield good profit.
Kao_5MIN
⋅
Please can be update with something new , i think this best indicator for scalping🏌🏼♂️🏌🏼♂️🎉✅
jeufois58
⋅
How to add alert for long and short ? (Not buy, sell)
unmarkedpanic
⋅
Hi, I was trying your script and noticed that the contract size is 50 no matter how you try to change in input screen it is not taking an effect. also would be nice to see the backtest range and adjustment of profit. keep it up
VinayKumarKV
⋅
@unmarkedpanic, I will change it in next update, so that you can change the quantity as per your need. I was trying it for Nifty 50 futures. so added 50
parthachowdhury4u
⋅
Dear Sir, I have been used this indicator in two trades. Though I hv used some indicators earlier also, but it appeared great to me. It would have been great to have it earlier. It may help novice like us. Hope to learn from you along the way. With my best regards sir. Partha Sarathi Chowdhury, Kolkata.