OPEN-SOURCE SCRIPT
Bollinger Band + RSI + ADX + MACD + Heikinashi
This script takes into picture Bollinger Bands, RSI with a comparator value, ADX with a comparator value, and MACD with Heikinashi Direction
THIS IS A LONG-ONLY STRATEGY. SHORT TRADES ARE NOT INCLUDED
Strategy:
The Strategy takes a trade only after ALL the following conditions are met.
Stop Loss: Max of (Low of the candle - 0.22% and Close of the candle - 0.32%) - FYI, because its max, it's lower of the 2 and your risk is lesser
Target: Max of (Bollinger Band Upper band and 0.75% of the value of underlying) - FYI, it takes the maximum available
THIS IS A LONG-ONLY STRATEGY. SHORT TRADES ARE NOT INCLUDED
Strategy:
The Strategy takes a trade only after ALL the following conditions are met.
- Candle low is lower than the Bollinger Lower band
- RSI is higher than the comparator value
- ADX is higher than the comparator value
- MACD value is higher than the Signal value
Stop Loss: Max of (Low of the candle - 0.22% and Close of the candle - 0.32%) - FYI, because its max, it's lower of the 2 and your risk is lesser
Target: Max of (Bollinger Band Upper band and 0.75% of the value of underlying) - FYI, it takes the maximum available
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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