abilash.s.90

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.

  • 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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

If you find my work useful, please go ahead and donate here : https://www.patreon.com/user?u=55964280

This will motivate me to do similar such scripts.
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