OPEN-SOURCE SCRIPT
🐂 BUY Only - RSI Crossing 50 + AO Negative
This is a buy-only strategy that triggers long positions based on two key conditions:
RSI (Relative Strength Index) crosses above 50: This indicates growing bullish momentum and suggests the price may be shifting toward an upward trend.
Awesome Oscillator (AO) is negative: The AO being below zero signals a weakening trend, potentially identifying a low point for buying opportunities.
By combining these signals, the strategy aims to capture reversals or price increases after periods of weakness, entering trades when bullish momentum is gaining strength while the AO indicates the market is at a potential low.
RSI (Relative Strength Index) crosses above 50: This indicates growing bullish momentum and suggests the price may be shifting toward an upward trend.
Awesome Oscillator (AO) is negative: The AO being below zero signals a weakening trend, potentially identifying a low point for buying opportunities.
By combining these signals, the strategy aims to capture reversals or price increases after periods of weakness, entering trades when bullish momentum is gaining strength while the AO indicates the market is at a potential low.
Open-source script
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 publication is governed by House rules. You can favorite it to use it on a chart.
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