RSI5_50 with DivergenceThis is variation of RSI Divergence strategy.
I have added a filter (long term RSI) to the Rules. strategy BUYs when RSI 50 period is above 50 line and there is divergence on the short term RSI
settings
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short term RSI period 5
long term RSI period 50
stopLoss is 8% --- if setting is enabled
BUY Rule
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RSI 50 is above 50 line
short term RSI is showing divergence
Add to existing
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if already in position, BUY when shorTermRSI is crossing above 20
TakeProfit
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when longTermRSI reaches 60,65, 70 and 75 level , take partial profits .
(not when crossing down --- This may affect on profits , because when price goes down , it goes very fast )
Exit
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when longTermRSI is crossing down 30
OR stopLoss value hits
Note: When I tested this with GOOGL stock , I have got excellent results ... any experts there , please check everything is good with scripting ...
Happy Trading
