THIS IS A LONG-ONLY STRATEGY. SHORT TRADES ARE NOT INCLUDED
The Strategy takes a trade only after ALL the following conditions are met.
- Candle low is lower than the 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 ( Upper band and 0.75% of the value of underlying) - FYI, it takes the maximum available
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.