PROTECTED SOURCE SCRIPT
15 Minute Reversal Scalper for BTC and Altcoins (ADR, high/low)
Updated
Daily and Weekly High/Low, Average Range, Triple Stochastic RSI Overbought/Oversold
This script shows the daily highs/lows and weekly highs/lows. It doesn't attempt to predict the current daily/weekly high and low so those will repaint. Past values (previous day or week) will not change though.
It also plots the Average Range by averaging the last 7/10/14 period. Default is set to Daily (ADR) but can be changed to any timeframe. These will not repaint for the chosen range.
The last element is a triple stochastic overbought/oversold lines. I takes in 3 different stochastic RSI Lengths as well as standard RSI. When they're all overbought or oversold it will plot red or green lines. When any reverses from the overbought/oversold range it will plot a red or green dot. These will repaint but only within the current candle so it's important to wait for the candle close.
I've found this strategy works better in ranging environments and can produce multiple dots in heavy trends. I like to use this on the 15 minute timeframe but can also work on others. When confirming a reversal I'll usually set my stop loss to the top or bottom of the range. I also like to only take signals when above or below the Average Range, unless using them for pullbacks in upward or downward trends. This is meant to be used for scalping so profits should be taken relatively quick, possibly at the nearby support or resistance.
* This script is meant to be used for educational purposes only and is not financial advise. As always, do your own research and backtesting.
This script shows the daily highs/lows and weekly highs/lows. It doesn't attempt to predict the current daily/weekly high and low so those will repaint. Past values (previous day or week) will not change though.
It also plots the Average Range by averaging the last 7/10/14 period. Default is set to Daily (ADR) but can be changed to any timeframe. These will not repaint for the chosen range.
The last element is a triple stochastic overbought/oversold lines. I takes in 3 different stochastic RSI Lengths as well as standard RSI. When they're all overbought or oversold it will plot red or green lines. When any reverses from the overbought/oversold range it will plot a red or green dot. These will repaint but only within the current candle so it's important to wait for the candle close.
I've found this strategy works better in ranging environments and can produce multiple dots in heavy trends. I like to use this on the 15 minute timeframe but can also work on others. When confirming a reversal I'll usually set my stop loss to the top or bottom of the range. I also like to only take signals when above or below the Average Range, unless using them for pullbacks in upward or downward trends. This is meant to be used for scalping so profits should be taken relatively quick, possibly at the nearby support or resistance.
* This script is meant to be used for educational purposes only and is not financial advise. As always, do your own research and backtesting.
Release Notes
Added values to change the stochastic rsi and standard rsi overbought/oversold levels. Release Notes
Added an option to plot the previous day and week high/lows Also added custom moving averages
Release Notes
Changed default valuesProtected script
This script is published closed-source and you may privately use it freely.
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