BUY RULE 1. EMA50 > EMA 200 2. if current close > vwap session value and close>open 3. check if RSI3 is dipped below 10 for any of last 10 candles (as defined rsi_buy_level)
EXIT RULE 1. RSI3 crossing down 90 level (as defined in rsi_sell_level)
STOP LOSS EXIT 1. default is set to 5%
you need to add EMA 50 , EMA 200 and VWAP (session) indicators to the chart to see how these signals are generated
This strategy is tested on SPY and QQQ index stocks on hourly chart.
Warning for educational purposes only
Release Notes
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Add on RSI divergence parameter added to settings
This will allow to add to existing position if RSI divergence found.
Background color green has been added to RSI indicator when there is divergence
How to display the buy and sell signals of strategy on the chart?
mohanee
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Here is another example to improve the entries
LouiLow
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@mohanee, hi, may i know where can i find your divergence indicator?
mohanee
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@LouiLow, it is there in public list … just type searching divergence and look for my name right side
mohanee
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you can improve the entries on this indicator .. see details below
ngupta72
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Thanks. I will test and update you. Do you have other strategy for short
ngupta72
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Very nice strategy. Is the reversal is true for short.
//1. EMA50 < EMA 200,
//2. if current close < vwap session value and close<open
//3. check if RSI3 is crossed above 90 for any of last 10 candles
//EXIT RULE
//1. RSI3 crossing up 10 level
//STOP LOSS EXIT
mohanee
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@ngupta72,
yes you can do that except condition 3. In down trend you may not see RSI reaching 90 level. mostly reach level 60 . So you should probly test between 60 to 90 and check which setting works fine and gives better results.