This is the finalized code released to the public that I created in a video linked here.
This indicators combines a Bollinger Band and Stochastic RSI to produce signals for possible price reversal. The signals are displayed by default as green arrows for bullish and red arrows for bearish.
To trigger a signal the indicator checks for the following:
(Bullish)
A candle closes above the upper Bollinger Band
The following candle closes within the upper Bollinger Band
The RSI Stochastic is below the set threshold (10 by default)
(Bearish)
A candle closes below the lower Bollinger Band
The following candle closes within the lower Bollinger Band
The RSI Stochastic is above the set threshold (90 by default)
I can only use 3 indicators on free tradingview account. I like Stochastics, Bollinger Bands and RSI (MACD too). Will this accomplish the job of at least the 1st three? I want my RSI set at 4, I assume I can edit that. Also I don't see the Stochastics and RSI on the photo above. I assume Bollinger bands are on the outside, where is stochastics high and low and RSI band? I only set it to the 50% line.
FunPlusPro
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@litaandco, you want use MACD base on RSI?Specify your needs.My english is poor
TradingSafely
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I converted your indicator to a strategy and tried trading the E-Mini S&P 500 1 second chart today and made $1300. You can convert it using code below simply paste it at bottom below alerts and change study to strategy.
longCondition = time(timeframe.period, tradingtimes) != 0
longCondition1 = Bull
if (longCondition and longCondition1)
strategy.entry("BUY", strategy.long)
shortCondition = time(timeframe.period,tradingtimes) != 0
shortCondition1 = Bear
if (shortCondition and shortCondition1)
strategy.entry("SELL", strategy.short)
TradingSafely
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@TradingSafely, pyramiding set to 7 I was trading the Micro E-Mini not the E-mini
SnoopFroggNFT
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@TradingSafely, Is there a script for a STRATEGY for these signals? I see the changes you made to convert it from signals to strategy, but I'm not completely sure how to make the changes myself in the script. Sure, I know about the code, but just want to be certain it's been changed based on what has been working for you. Thanks for any help you can give. Scott
TradingSafely
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@productbuyer0, on line 2 change study to strategy then copy and paste my code on line 54. Hope this helps.
UnknownUnicorn16251912
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@TradingSafely, line 64: Mismatched input 'strategy.entry' expecting 'end of line without line continuation'. Why is there an error? Please help. Followed what you mentioned.
norok
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@FarhatBmdhj, double check that you copied his code correctly
sasa95
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@TradingSafely, there is a error Mismatched input 'not' expecting 'end of line without line continuation'. for not na(time(res, sess))