TradingView RSI to ToS

[tem2005]

Hello

I found this on TV and it has high succes rate up to 80%

this is its name :

Optimized RSI Strategy - Buy The Dips (by Coinrule)​

The strategy buys when the RSI is lower than 35, and at the same time, the price is below the MA100. In this way, the approach helps avoid catching early dips, increasing buying when the bottom approaches.

The position closes when the RSI value is above 65. Depending on the volatility of the coins that the strategy will trade, it's possible to adjust the RSI exit value to chase larger profits.



thanks

 

[_Merch_Man_]

I googled it. It claims that it "ensures entry near the bottom". You know the saying: If it sounds too good to be true.....

 

[tem2005]

I googled it. It claims that it "ensures entry near the bottom". You know the saying: If it sounds too good to be true.....

But it has a few failed signals

 

[MerryDay]

@tem2005 Is this what you are looking for:
https://usethinkscript.com/threads/basic-rsi-indicator.7119/#post-71126

 

[tem2005]

sorry @MerryDay been a while not replied, i had strong flu couldn't cover quick. thanks for the answer and indictor. from my first look it does not look like the one i posted about. sorry to disturb your time.

 

[Tidan]

This should be very easy to script. But I question how effective it will be in a trending market.

 

[Joshua]

 

[MerryDay]

@Tidan as you can see from @Joshua's post. DEFINITELY is not a good indicator in downtrends!
@tem2005 That is a lot of failed signals!

 

[MerryDay]

@tem2005 As @Tidan stated this is a simple script. It is the RSI w/ a moving average. You can load the TOS RSI and a moving average into the scanner w/ filters that you can get right from the tradingview script. This will provide you with all stocks that meet the Tradingview trigger.

 

[Tidan]

You could reduce the number of bad signals by adding a chande momentum oscillator component with a smoothed exponential moving avg set to 5. Furthermore, I'd try the rsi OB/OS at 85/15 for starters.