This script is the combination of RSI and Engulfing Pattern
How it works
1. when RSI > 70 and form the bullish engulfing pattern . it gives sell signal 2. when RSI < 30 and form the bearish engulfing pattern . it gives buy signal
settings:
basic setting for RSI has been enabled in the script to set the levels accordingly to your trades
This looks like a great indicator, appears to give good clean signals. Will work well when worked into a trading strategy.
Can you update the script to allow alerts when a bullish/ bearish signal prints?
MarcMJ
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@kinghorncrypto, i just published an updated script with an simple alert. Watch my profile. Thanks to @ahmedirshad419 for that script.
SebastianKK
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@MarcMJ, Hi Marc , just wonder where did you publish the updated script ? I can't see it on your profile ?
MarcMJ
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@SebastianKK, Hi, unfortunately the script seems to have been banned. I don't know why, but you just have to add die following script line and save it as an new script. //@added 230222 by MarcMJ alertcondition((tradeSignal and bullishCandle) or (tradeSignal and bearishCandle), title='Trade Signal', message='New Trade Signal')
Kadion
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@MarcMJ, Hi How do I up date it ? I dont really understand how to add "die" to the script?
MarcMJ
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@Kadion, the following script line...auto correction fail :) You have to open the "Pine Editor" in an marketview windows. Copy & Paste the Sourcecode in the upper box and add the new script line. Than save it under an name, thats it. You will find that moded indicator in the indicator tab, in the section "My Scripts"
Kadion
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@MarcMJ, do I add die at the end of the script at line 31 and that's it?
Kadion
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@MarcMJ, this is just for the alert right? or over all up-date?
MarcMJ
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@Kadion, You have to copy the original source code (upper box) and add the new script line. You will create an complete new private indicator with that method
Can you update the script to allow alerts when a bullish/ bearish signal prints?