[astropark] DMI/ADX strategy [alarms]

Oct 29, 2020

Dear Followers,

today I'm happy to share with you my DMI / ADX Strategy.
It provides directional trend information, so if a bullish or a bearish trend is going to start. Statistically it works better on lower timeframes (from 5 minutes to 1 hour).
It is both a Swing and Scalping Strategy indicator, based on a simple trend following theory, good for trading FOREX, Indexes, Stocks, Commodities and Cryptocurrencies.

To help in Taking Profits, the strategy integrates 2 special other than bull/bear signals:

• Overbought and Oversold RSI Signals, which appear both as darker background (the darker the color, the more the price is in overbought/oversold) and green "ob"-"tp" / red "os"-"tp" labels (they optionally pop up only on a configurable stronger overbought/oversold condition) (you can enable/disable it optionally)
  
• Peak Profit Tracker, which resets every time a new trade starts and keeps track of price fluctuation during the trade: the message is don't be too greedy and take profits or lock them with a stoploss in profit (you can enable/disable it optionally)
  

You can edit many options in order to

• have more/less bull/bear signals
  
• enable/disable showing bull/bear signals
  
• enable/disable showing RSI TP signals (you can edit RSI length, overbought (OB) and oversold (OS) levels)
  
• enable/disable showing peak profits on each trade
  

The user who wants to use this strategy, especially via an automated bot, must always set a stoploss (example 150$ from entry on bitcoin ) or use a proper risk management strategy.
This is not the "Holy Grail", so use it with caution. It's highly suggested to use a proper money management.

This script will let you set all notifications you may need in order to be alerted on each triggered signals.

You can find the strategy version for backtesting here below:

Here there are some examples how this DMI / ADX strategy works on many markets:

LTC/USDT 15m


BTC/USD 15m


BNB/BTC 15m


ETH/USD 15m


GOLD (XAU/USD) 15m


GOLD (XAU/USD) 1h


FB 15m


AAPL 15m


TSLA 1h


BANKNIFTY Index 5m


NIFTY 50 Index 5m



This is a premium indicator, so send me a private message in order to get access to this script.

May 2, 2022

Release Notes

added 6 specific alerts for every type of overbought / oversold background color