RSI-RENKO Divine Strategy

Jun 11, 2019

Live, non-repainting strategy using RENKO and RSI mixed together to multiple types of long and short positions.

- Features -

• Live entry direction with trade warnings and alerts
  
• Live trade building buy and sell limits (for buy/sell limits)
  
• Entry location icons as well as pyramid entries (to add to existing position)
  
• Swing trades that keep you in the trade for the maximum possible profit
  
• 1 scalp target based on the RSI settings and entry location
  
• Dynamic trailing stop for swings and scalps
  
• Alert conditions for every update and condition change of the strategy (Provided by indicator study)
  
• 4 pre-built color themes, including candlestick coloring
  

This script is used solely for alerts to the RSI-RENKO Divine Strategy, because Trading View still after 3 years of requesting does not provide the ability to use alert conditions inside a strategy script, only an indicator script. This strategy should be used to backtest your settings. Beyond alerts and strategy inputs, the strategy and indicator are identical.

Jun 12, 2019

Release Notes

• Updated volatile brick algorithm. The strategy should perform better when switching to higher timeframes for low tick brick sizes. It is difficult to garner information from a single time candle that can blast through both the upper and lower next brick thresholds. It takes careful design to maximize the accuracy in these cases.
  
• Renko RSI and Renko Trend Momentum indicators also updated with some neat additions.
  

Jun 17, 2019

Release Notes

• Fixed target algos during highly volatile segments or when the selected brick size is small enough where the time rate of brick production is high.
  
• Add check box to toggle visibility of the execution value left triangles.
  

Jun 22, 2019

Release Notes

• Updated color themes.
  

Jun 29, 2019

Release Notes

• Updated to version 4 Pine.
  
• Live labels now show value price.
  
• Fixed pending renko momentum areas during rapid volatility.
  
• Alerts added to indicator version: Change in Renko Trend Momentum (main trend flips), Pending Renko Trend Momentum Activation, Volatile Brick Production.
  
• New [MISC] areas added to modify the live target/stop/threshold labels and horizontal lines.
  

Jun 29, 2019

Release Notes

• Fixed Bugs.
  

Jun 30, 2019

Release Notes

• Fixed display bugs.
  

Aug 13, 2019

Release Notes

• Improved renko volatile brick production engine.
  
• Added Renko-RSI merge feature.
  

See Merge feature video here

Aug 14, 2019

Release Notes

• Updated copyright.
  
• Added member features.
  

Aug 14, 2019

Release Notes

• Updated strategy-backtesting.
  

Aug 14, 2019

Release Notes

• Fixed OB and OS merge labels.
  

Aug 17, 2019

Release Notes

• Updated member features.
  

Aug 20, 2019

Release Notes

• Added member features.
  

Jan 6, 2020

Release Notes

• Updated member features.
  

Jan 11, 2020

Release Notes

• Slight tweak to limit entry algorithm. If an entry is "missed" because the price bounced to fast, there is now a second opportunity to get into the trade under strict conditions.
  
• Updated display for OB/OS value/target areas.