Moving RSI by tmr0 — Strategy by tmr0

relativestrengthindex pair usd tmr0 fx forex

My moveing RSI strategy. Work on any pairs and timeframes

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

//coded by tmr0
//@version=2
strategy("Moving RSI by tmr0",shorttitle="tMRSI", overlay=false, default_qty_type=strategy.cash, default_qty_value=7000,  precision=0)

rsilen=input(3)
smalen=input(20)
chan=input(20, step=5)

s=hl2-sma(hl2,smalen)
z=rsi(s,rsilen)
plot(s, style =areabr, color = #b08040, transp=65)
hline(0, linestyle=dashed)
enterL = z<chan
enterS = z>(100-chan)

plotshape(enterL, "EnterL", style=shape.triangleup, color=teal, location=location.bottom)
plotshape(enterS, "EnterS", style=shape.triangledown, color=maroon, location=location.bottom)
//plotshape(overL and not enterS, "StopL", style=shape.square, color=teal, location=location.bottom)
//plotshape(overS and not enterL, "StopS", style=shape.square, color=maroon, location=location.bottom)

strategy.entry("Long", strategy.long, when=enterL)
strategy.entry("Short", strategy.short, when=enterS)
//strategy.close("Short", when=overS)
//strategy.close("Long", when=overL)