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    My Indicator

    Uploaded by

    vamsi kumar
    The document describes a trading strategy that uses RSI divergence indicators to generate buy and sell signals. It takes inputs for RSI period, source, lookback windows, profit levels, and plot settings. It then calculates RSI values, identifies pivot highs and lows, and plots regular and hidden bullish/bearish signals. Entries are triggered on bullish signals and exits on bearish signals or the RSI crossing above a take profit level. A trailing stop loss is also defined to close positions.

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    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd

    My Indicator

    Uploaded by

    vamsi kumar
    359 views4 pages
    The document describes a trading strategy that uses RSI divergence indicators to generate buy and sell signals. It takes inputs for RSI period, source, lookback windows, profit levels, and plot settings. It then calculates RSI values, identifies pivot highs and lows, and plots regular and hidden bullish/bearish signals. Entries are triggered on bullish signals and exits on bearish signals or the RSI crossing above a take profit level. A trailing stop loss is also defined to close positions.

    Original Description:

    trading view script for RSi indicator with additional features

    Original Title

    my indicator

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    © © All Rights Reserved

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    TXT, PDF, TXT or read online from Scribd

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    The document describes a trading strategy that uses RSI divergence indicators to generate buy and sell signals. It takes inputs for RSI period, source, lookback windows, profit levels, and plot settings. It then calculates RSI values, identifies pivot highs and lows, and plots regular and hidden bullish/bearish signals. Entries are triggered on bullish signals and exits on bearish signals or the RSI crossing above a take profit level. A trailing stop loss is also defined to close positions.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Download as txt, pdf, or txt
    359 views4 pages

    My Indicator

    Uploaded by

    vamsi kumar
    The document describes a trading strategy that uses RSI divergence indicators to generate buy and sell signals. It takes inputs for RSI period, source, lookback windows, profit levels, and plot settings. It then calculates RSI values, identifies pivot highs and lows, and plots regular and hidden bullish/bearish signals. Entries are triggered on bullish signals and exits on bearish signals or the RSI crossing above a take profit level. A trailing stop loss is also defined to close positions.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Download as txt, pdf, or txt
    of 4
    At a glance
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    The strategy is looking for divergences between price action and an RSI indicator to identify entry and exit signals. It plots different shapes to visualize regular and hidden bullish and bearish divergences.

    The strategy is trying to profit from bullish and bearish divergences between price and an RSI indicator. It enters long positions on bullish divergences and closes positions at price targets or bearish divergences.

    It identifies bullish divergences as the RSI forming a lower low while price forms a higher low. Bearish divergences are identified as the RSI forming a higher high while price forms a lower high. Regular and hidden varieties are distinguished.

    //@version=4

    //study(title="Divergence Indicator", format=format.price)


    //GOOGL setting 5 , close, 3 , 1 profitLevel at 75 shows win rate 87.21 %
    profit factor 7.059
    //GOOGL setting 8 , close, 3 , 1 profitLevel at 80 shows win rate 86.57 %
    profit factor 18.96
    //SPY setting 5, close , 3, 3 profitLevel at 70 , shows win rate 80.34%
    profit factor 2.348
    strategy(title="RSI Divergence Indicator", overlay=false,pyramiding=2,
    default_qty_value=2, default_qty_type=strategy.fixed, initial_capital=10000,
    currency=currency.USD)

    len = input(title="RSI Period", minval=1, defval=9)


    src = input(title="RSI Source", defval=close)
    lbR = input(title="Pivot Lookback Right", defval=3)
    lbL = input(title="Pivot Lookback Left", defval=1)
    takeProfitRSILevel = input(title="Take Profit at RSI Level", minval=70, defval=80)

    rangeUpper = input(title="Max of Lookback Range", defval=60)


    rangeLower = input(title="Min of Lookback Range", defval=5)
    plotBull = input(title="Plot Bullish", defval=true)
    plotHiddenBull = input(title="Plot Hidden Bullish", defval=true)
    plotBear = input(title="Plot Bearish", defval=true)
    plotHiddenBear = input(title="Plot Hidden Bearish", defval=false)

    //useTrailStopLoss = input(false, title="Use Trailing Stop Loss")

    sl_type = input("NONE", title="Trailing StopLoss Type", options=['ATR','PERC',


    'NONE'])

    stopLoss = input(title="Stop Loss%", defval=5, minval=1)

    atrLength=input(14, title="ATR Length (for Trailing stop loss)")


    atrMultiplier=input(3.5, title="ATR Multiplier (for Trailing stop loss)")

    bearColor = color.purple
    bullColor = color.green
    hiddenBullColor = color.new(color.green, 80)
    hiddenBearColor = color.new(color.red, 80)
    textColor = color.white
    noneColor = color.new(color.white, 100)

    osc = rsi(src, len)

    plot(osc, title="RSI", linewidth=2, color=#8D1699)


    hline(50, title="Middle Line", linestyle=hline.style_dotted)
    obLevel = hline(70, title="Overbought", linestyle=hline.style_dotted)
    osLevel = hline(30, title="Oversold", linestyle=hline.style_dotted)
    fill(obLevel, osLevel, title="Background", color=#9915FF, transp=90)

    plFound = na(pivotlow(osc, lbL, lbR)) ? false : true


    phFound = na(pivothigh(osc, lbL, lbR)) ? false : true

    _inRange(cond) =>
    bars = barssince(cond == true)
    rangeLower <= bars and bars <= rangeUpper

    //------------------------------------------------------------------------------
    // Regular Bullish

    // Osc: Higher Low


    oscHL = osc[lbR] > valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

    // Price: Lower Low


    priceLL = low[lbR] < valuewhen(plFound, low[lbR], 1)

    bullCond = plotBull and priceLL and oscHL and plFound

    plot(
    plFound ? osc[lbR] : na,
    offset=-lbR,
    title="Regular Bullish",
    linewidth=2,
    color=(bullCond ? bullColor : noneColor),
    transp=0
    )

    plotshape(
    bullCond ? osc[lbR] : na,
    offset=-lbR,
    title="Regular Bullish Label",
    text=" Bull ",
    style=shape.labelup,
    location=location.absolute,
    color=bullColor,
    textcolor=textColor,
    transp=0
    )

    //------------------------------------------------------------------------------
    // Hidden Bullish

    // Osc: Lower Low


    oscLL = osc[lbR] < valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

    // Price: Higher Low


    priceHL = low[lbR] > valuewhen(plFound, low[lbR], 1)

    hiddenBullCond = plotHiddenBull and priceHL and oscLL and plFound

    plot(
    plFound ? osc[lbR] : na,
    offset=-lbR,
    title="Hidden Bullish",
    linewidth=2,
    color=(hiddenBullCond ? hiddenBullColor : noneColor),
    transp=0
    )

    plotshape(
    hiddenBullCond ? osc[lbR] : na,
    offset=-lbR,
    title="Hidden Bullish Label",
    text=" H Bull ",
    style=shape.labelup,
    location=location.absolute,
    color=bullColor,
    textcolor=textColor,
    transp=0
    )

    longCondition=bullCond or hiddenBullCond
    //? osc[lbR] : na
    //hiddenBullCond
    strategy.entry(id="RSIDivLE", long=true, when=longCondition)

    //Trailing StopLoss
    ////// Calculate trailing SL
    /////////////////////////////////////////////////////
    sl_val = sl_type == "ATR" ? stopLoss * atr(atrLength) :
    sl_type == "PERC" ? close * stopLoss / 100 : 0.00

    trailing_sl = 0.0
    trailing_sl := strategy.position_size>=1 ? max(low - sl_val,
    nz(trailing_sl[1])) : na

    //draw initil stop loss


    //plot(strategy.position_size>=1 ? trailing_sl : na, color = color.blue ,
    style=plot.style_linebr, linewidth = 2, title = "stop loss")
    //plot(trailing_sl, title="ATR Trailing Stop Loss", style=plot.style_linebr,
    linewidth=1, color=color.purple, transp=30)
    //Trailing StopLoss
    ////// Calculate trailing SL
    /////////////////////////////////////////////////////

    //------------------------------------------------------------------------------
    // Regular Bearish

    // Osc: Lower High


    oscLH = osc[lbR] < valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])

    // Price: Higher High


    priceHH = high[lbR] > valuewhen(phFound, high[lbR], 1)

    bearCond = plotBear and priceHH and oscLH and phFound

    plot(
    phFound ? osc[lbR] : na,
    offset=-lbR,
    title="Regular Bearish",
    linewidth=2,
    color=(bearCond ? bearColor : noneColor),
    transp=0
    )

    plotshape(
    bearCond ? osc[lbR] : na,
    offset=-lbR,
    title="Regular Bearish Label",
    text=" Bear ",
    style=shape.labeldown,
    location=location.absolute,
    color=bearColor,
    textcolor=textColor,
    transp=0
    )

    //------------------------------------------------------------------------------
    // Hidden Bearish

    // Osc: Higher High


    oscHH = osc[lbR] > valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])

    // Price: Lower High


    priceLH = high[lbR] < valuewhen(phFound, high[lbR], 1)

    hiddenBearCond = plotHiddenBear and priceLH and oscHH and phFound

    plot(
    phFound ? osc[lbR] : na,
    offset=-lbR,
    title="Hidden Bearish",
    linewidth=2,
    color=(hiddenBearCond ? hiddenBearColor : noneColor),
    transp=0
    )

    plotshape(
    hiddenBearCond ? osc[lbR] : na,
    offset=-lbR,
    title="Hidden Bearish Label",
    text=" H Bear ",
    style=shape.labeldown,
    location=location.absolute,
    color=bearColor,
    textcolor=textColor,
    transp=0
    )
    longCloseCondition=crossover(osc,takeProfitRSILevel) or bearCond
    strategy.close(id="RSIDivLE", comment="Close All="+tostring(close -
    strategy.position_avg_price, "####.##"), when= abs(strategy.position_size)>=1 and
    sl_type == "NONE" and longCloseCondition)

    //close all on stop loss


    strategy.close(id="RSIDivLE", comment="TSL="+tostring(close -
    strategy.position_avg_price, "####.##"), when=abs(strategy.position_size)>=1 and
    (sl_type == "PERC" or sl_type == "ATR" ) and crossunder(close,
    trailing_sl) ) //close<ema55 and rsi5Val<20 //ema34<ema55 //close<ema89

    // my RSI moving averages


    //osc = rsi(src, len)
    plot(sma(rsi(src, len),9))
    plot(wma(rsi(src, len),45))

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