OPEN-SOURCE SCRIPT
RSI Strategy - Tanner
Hello everyone, this is my first script on TV. I have done some research on cryptocurrency strategies and much of which has been in technical indicators by combining trend and momentum analysis together. Pine Script is quite a difficult language to learn as opposed to Python.
Anyways, I made some adjustments for the RSI strategy to include a stop loss/take profit and added indicators upon the first initial overbought and oversold levels(70 and 30 respectively). Please DO give me advice or recommendations. Primarily, I am confused as to what metric the stop loss and take profit parameters are using as they do not change when the values are changed in the input. I am unable to tell whether the strategy repaints. Could someone explain why repainting typically occurs in crossovers?
*DISCLAIMER*
This script is merely to help myself and others learn about the Pine Script language. I would not advise you to use this script for live trading. Thanks!
Anyways, I made some adjustments for the RSI strategy to include a stop loss/take profit and added indicators upon the first initial overbought and oversold levels(70 and 30 respectively). Please DO give me advice or recommendations. Primarily, I am confused as to what metric the stop loss and take profit parameters are using as they do not change when the values are changed in the input. I am unable to tell whether the strategy repaints. Could someone explain why repainting typically occurs in crossovers?
*DISCLAIMER*
This script is merely to help myself and others learn about the Pine Script language. I would not advise you to use this script for live trading. Thanks!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.