This is a strategy utilizing multiple of Evergets RMI (thanks to him for permission to publish) and a Chance Momentum.
It buys when 4 of the RMIs are below their thresholds and sells when they are above. There is a 5th one I added last night that works in Reverse - buy when its above and sell when below, which should work better for pyramiding strats by using it at the right rate to set the overall trend.
Very basic sample below, I could have set it up better as my example but just want to publish.
Versionshinweise
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Big update. First of all, I messed up the momentum input on the second RMI- used the first RMIs momentum Oops. IDK how I missed that for so long.
Second - THREE stop losses and two and a half take profits!
Hard stop loss stops as soon as you lose that %! Soft stop loss triggers at a % + chande crossing down! Safe stop loss triggers at a % loss + sell conditions! Take profits are the same way, but working in reverse! I incorporated a Take Profit into the base sell signal- which means you can tell it to ONLY ever sell at a certain % gain - unless its a triggered by one of the other conditions!
SO thats a lot of choices to keep you safe. We all hate it when our oscillators generate a classic "sell" signal, but at a loss - which will happen eventually on almost any strat without price awareness. By making our strats aware of our buy in cost and commission rate, we can prevent that. This will ONLY sell at gain unless it is a stop loss, and the stop losses should be plenty useable for anyone on any chart.
And I know this backtest sucks - but you can see take profits and stop losses in one screen which is all I wanted for now.
Bro, you don't realize how great this SMS is... BEST on TV...
Thank you man :)
burgercrisis
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@CG997, Thank you so much. I struggled to find good scripts for a while. You don't mind me asking what and how you're using it? Are you using it to scalp like I was for a bit or for more reliable slow strat? ;)
burgercrisis
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@CG997, Hey, check out the sweet update I just did. I hope you like it. No functionality removed. Just added some powerful stop losses and take profits xD
And I'm always open to ideas
johnbliss
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I changed the strategy to study and added the following content. What is the problem of finding that the positions of alertcondition and plotshape are different? Thank you
@johnbliss, I can't say, sounds like tradingview bug or something. My code is VERY straightforward - it is literally just the oscillators and the conditions are literally just checking for a crossover and the position of the rest of the oscillators so as long as you use the same conditions there is no logical reason the position would be different.
burgercrisis
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I shall forever regret typoing Chande as Chance instead of Chad.
Feel free to drop settings if you are enjoying the script as thanks xD
Thank you man :)