RSI-RENKO Divine Strategy

Live, non-repainting strategy using RENKO and RSI mixed together to multiple types of long and short positions.

- Features -

• Live entry direction with trade warnings and alerts
  
• Live trade building buy and sell limits (for buy/sell limits)
  
• Entry location icons as well as pyramid entries (to add to existing position)
  
• Swing trades that keep you in the trade for the maximum possible profit
  
• 1 scalp target based on the RSI settings and entry location
  
• Dynamic trailing stop for swings and scalps
  
• Alert conditions for every update and condition change of the strategy (Provided by indicator study)
  
• 4 pre-built color themes, including candlestick coloring
  

This script is used solely for alerts to the RSI-RENKO Divine Strategy, because Trading View still after 3 years of requesting does not provide the ability to use alert conditions inside a strategy script, only an indicator script. This strategy should be used to backtest your settings. Beyond alerts and strategy inputs, the strategy and indicator are identical.

Versionshinweise:

• Updated volatile brick algorithm. The strategy should perform better when switching to higher timeframes for low tick brick sizes. It is difficult to garner information from a single time candle that can blast through both the upper and lower next brick thresholds. It takes careful design to maximize the accuracy in these cases.
  
• Renko RSI and Renko Trend Momentum indicators also updated with some neat additions.
  

Versionshinweise:

• Fixed target algos during highly volatile segments or when the selected brick size is small enough where the time rate of brick production is high.
  
• Add check box to toggle visibility of the execution value left triangles.
  

Versionshinweise:

• Updated color themes.
  

Versionshinweise:

• Updated to version 4 Pine.
  
• Live labels now show value price.
  
• Fixed pending renko momentum areas during rapid volatility.
  
• Alerts added to indicator version: Change in Renko Trend Momentum (main trend flips), Pending Renko Trend Momentum Activation, Volatile Brick Production.
  
• New areas added to modify the live target/stop/threshold labels and horizontal lines.
  

Versionshinweise:

• Fixed Bugs.
  

Versionshinweise:

• Fixed display bugs.
  

Versionshinweise:

• Improved renko volatile brick production engine.
  
• Added Renko-RSI merge feature.
  

See Merge feature video here

19:31

Versionshinweise:

• Updated copyright.
  
• Added member features.
  

Versionshinweise:

• Updated strategy-backtesting.
  

Versionshinweise:

• Fixed OB and OS merge labels.
  

Versionshinweise:

• Updated member features.
  

Versionshinweise:

• Added member features.
  

Versionshinweise:

• Updated member features.
  

Versionshinweise:

• Slight tweak to limit entry algorithm. If an entry is "missed" because the price bounced to fast, there is now a second opportunity to get into the trade under strict conditions.
  
• Updated display for OB/OS value/target areas.