You can also configure which dates you want to backtest, so you can see how this behaves over specific time frames and market cycles.
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.
Is there a way I can change the entry criteria to trigger an entry when the RSI crosses above 60? But the trailing conditions maintained as yours? Tried all day but keep getting errors because I have totally zero knowledge in scripting. Would appreciate heaps if you can help me! Turning desperate with all the losses the past weeks, so sad.
length = input(14, title="RSI length")
ob = input(60, title="Overbought level")
rsi = rsi(close, length)
buy = rsi > ob
buySignal = trigResistance >= dcUpper
buySignal = rsi > ob
This strategy only buys when the upper channel is broken. Do you see any instances on your chart where the price goes above that upper channel? If so, one of these buy arrows should appear. If price action is contained within the channel, then you are not triggering any trades.