The script follows a modified rsi strategy and orders are placed if a candlestick pattern is identified in the current or previous candle.
(For optimized results you can add or remove the strategy entry and exits based on the chart you wish to apply the script to).
1 = SMA = Simple Moving Average
2 = EMA = Exponential Moving Average
3 = VWMA = Volume-Weighted Moving Average
4 = DEMA = Double Exponential Moving Average
5 = TEMA = Triple Exponential Moving Average
6 = KAMA = Kaufman's Adaptive Moving Average
7 = Price Channel
If there were 2 red candles in a row - to open positions
If there were 2 green candles in a row - to open a position
At emergence of a candle of opposite color - to close a position
Bars Q - the required quantity of candles of identical color
This strategy uses 5 Simple Moving Averages and 2 ZeroLag Exponential Moving Averages, to determine possible entries and exits.
- Pretuned for Forex on 15m period
- Uses SMA(10/20/50/100/200) and EMA(9/21) by default
- Be cautios in sideward markets!
testing in cryptocurrency. send me ideas for scalping strategies please
probando en criptomonedas. envienme ideas para estrategias de escalping por favor
The Donchian Channel was developed by Richard Donchian and it could be compared
to the Bollinger Bands. When it comes to volatility analysis, the Donchian Channel
Width was created in the same way as the Bollinger Bandwidth technical indicator was.
You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change...
Functions with parameters do not work correctly: the returned value is sometimes different from the expected one.
The example script works correctly only when idx = 1 (instead of the current line 6).
