Get started

Rsibreakout

Megabar Breakout (Range & Volume & RSI)Hey there, This strategy is based on the idea that certain events lead to what are called Megabars. Megabars are bars that have a very large range and volume. I wanted to verify whether these bars indicate the start of a trend and whether one should follow the trend. Summary of the Code: The code is based on three indicators: the range of the bar, the volume of the bar, and the RSI. When certain values of these indicators are met, a Megabar is identified. The direction of the Megabar indicates the direction in which we should trade. Why do I combine these indicators? I want to identify special bars that have the potential to mark the beginning of a breakout. Therefore, a bar needs to exhibit high volume, have a large range (huge price movement), and we also use the Relative Strength Index (RSI) to assess potential momentum. Only if all three criteria are met within one candle, do we use this as an identifier for a megabar. Explanation of Drawings on the Chart: As you can see, there is a green background on my chart. The green background symbolizes the time when I'm entering a trade. Only if a Megabar happens during that time, I'm ready to enter a trade. The time is between 6 AM and 4 PM CET. It's just because I prefer that time. Also, the strategy draws an error every time a Megabar happens based on VOL and Range only (not on the RSI). That makes it pretty easy to go through your chart and check the biggest bars manually. You can activate or deactivate these settings via the input data of the strategy. When Do We Enter a Trade? We wait for a Megabar to happen during our trading session. If the Megabar is bullish, we open a LONG trade at the opening price of the next candle. If the Megabar is bearish, we open a SHORT trade at the opening price of the next candle. Where Do We Put Our Take Profit & Stop Loss? The default setting is TP = 40 Pips and SL = 30 Pips. In that case, we are always trading with a risk-reward ratio of 1.33 by default. You can easily change these settings via the input data of the strategy. Strategy Results The criteria for Megabars were chosen by me in a way that makes Megabars something special. They are not intended to occur too frequently, as the fundamental idea of this strategy would otherwise not hold. This results in only 37 closed trades within the last 12 months. If you change the criterias for a megabar to a milder one, you will create more Megabars and therefore more trades. It's up to you. I have adapted this strategy to the 30-minute chart of the EURUSD. In the evaluation, we consider a period of 12 months, which I believe is sufficient. My default settings for the indicators look like this: Avg Length Vol 20 Avg Multiplier Vol 3 Avg Length Range 20 Avg Multiplier Range 4 Value SMA RSI for Long Trades 50 Value SMA RSI for Short Trades 70 IMPORTANT: The current performance overview does not display the results of these settings. Please change the settings to my default ones so that you can see how I use this strategy. I do not recommend trading this strategy without further testing. The script is meant to reflect a basic idea and be used as a tool to identify Megabars. I have made this strategy completely public so that it can be further developed. One can take this framework and test it on different timeframes and different markets.
Pine Script™ strategy
by xsixs
1
The Flash-Strategy (Momentum-RSI, EMA-crossover, ATR)The Flash-Strategy (Momentum-RSI, EMA-crossover, ATR) Are you tired of manually analyzing charts and trying to find profitable trading opportunities? Look no further! Our algorithmic trading strategy, "Flash," is here to simplify your trading process and maximize your profits. Flash is an advanced trading algorithm that combines three powerful indicators to generate highly selective and accurate trading signals. The Momentum-RSI, Super-Trend Analysis and EMA-Strategy indicators are used to identify the strength and direction of the underlying trend. The Momentum-RSI signals the strength of the trend and only generates trading signals in confirmed upward or downward trends. The Super-Trend Analysis confirms the trend direction and generates signals when the price breaks through the super-trend line. The EMA-Strategy is used as a qualifier for the generation of trading signals, where buy signals are generated when the EMA crosses relevant trend lines. Flash is highly selective, as it only generates trading signals when all three indicators align. This ensures that only the highest probability trades are taken, resulting in maximum profits. Our trading strategy also comes with two profit management options. Option 1 uses the so-called supertrend-indicator which uses the dynamic ATR as a key input, while option 2 applies pre-defined, fixed SL and TP levels. The settings for each indicator can be customized, allowing you to adjust the length, limit value, factor, and source value to suit your preferences. You can also set the time period in which you want to run the backtest and how many dollar trades you want to open in each position for fully automated trading. Choose your preferred trade direction and stop-loss/take-profit settings, and let Flash do the rest. Say goodbye to manual chart analysis and hello to consistent profits with Flash. Try it now! General Comments This Flash Strategy has been developed in cooperation between Baby_whale_to_moon and JS-TechTrading. Cudos to Baby_whale_to_moon for doing a great job in transforming sophisticated trading ideas into pine scripts. Detailed Description The “Flash” script considers the following indicators for the generation of trading signals: 1. Momentum-RSI 2. ‘Super-Trend’-Analysis 3. EMA-Strategy 1. Momentum-RSI • This indicator signals the strength of the underlying upward- or downward-trend. • The signal range of this indicator is from 0 to 100. Values > 60 indicate a confirmed upward- or downward-trend. • The strategy will only generate trading signals in case the stock (or any other financial security) is in a confirmed upward- (long entry signals) or downward-trend (short entry signals). • This indicator provides information with regards to the strength of the underlying trend and it does not give any insight with regard to the direction of the trend. Therefore, this strategy also considers other indicators which provide technical confirmation with regards to the direction of the underlying trend. Graph 1 shows this concept: • The Momentum-RSI indicator gives lower readings during consolidation phases and no trading signals are generated during these periods. Example (graph 2): 2. Super-Trend Analysis • The red line in the graph below represents the so-called super-trend-line. Trading signals are only generated in case the price action breaks through this super-trend-line indicating a new confirmed upward-trend (or downward-trend, respectively). • If that happens, the super trend-line changes its color from red to green, giving confirmation that the trend changed from bearish to bullish and long-entries can be considered. • The vice-versa approach can be considered for short entries. Graph 3 explains this concept: 3. Exponential Moving Average / EMA-Strategy The functionality of this EMA-element of the strategy has been programmed as follows: • The exponential moving average and two other trend lines are being used as qualifiers for the generation of trading-signals. • Buy-signals for long-entries are only considered in case the EMA (yellow line in the graph below) crosses the red line. • Sell-signals for short-entries are only considered in case the EMA (yellow line in the graph below) crosses the green line. An example is shown in graph 4 below: We use this indicator to determine the new trend direction that may occur by using the data of the price's past movement. 4. Bringing it all together This section describes in detail, how this strategy combines the Momentum-RSI, the super-trend analysis and the EMA-strategy. The strategy only generates trading-signals in case all of the following conditions and qualifiers are being met: 1. Momentum-RSI is higher than the set value of this strategy. The standard and recommended value is 60 (graph 5): 2. The super-trend analysis needs to indicate a confirmed upward-trend (for long-entry signals) or a confirmed downward-trend (for short-entry signals), respectively. 3. The EMA-strategy needs to indicate that the stock or financial security is in a confirmed upward-trend (long-entries) or downward-trend (short-entries), respectively. The strategy will only generate trading signals if all three qualifiers are being met. This makes this strategy highly selective and is the key secret for its success. Example for Long-Entry (graph 6): When these conditions are met, our Long position is opened. Example for Short-Entry (graph 7): Trade Management Options (graph 8) Option 1 In this dynamic version, the so-called supertrend-indicator is being used for the trade exit management. This supertrend-indicator is a sophisticated and optimized methodology which uses the dynamic ATR as one of its key input parameters. The following settings of the supertrend-indicator can be changed and optimized (graph 9): The dynamic SL/TP-lines of the supertrend-indicator are shown in the charts. The ATR-length and the supertrend-factor result in a multiplier value which can be used to fine-tune and optimize this strategy based on the financial security, timeframe and overall market environment. Option 2 (graph 10): Option 2 applies pre-defined, fixed SL and TP levels which will appear as straight horizontal lines in the chart. Settings options (graph 11): The following settings can be changed for the three elements of this strategy: 1. (Length Mom-Rsi): Length of our Mom-RSI indicator. 2. Mom-RSI Limit Val: the higher this number, the more momentum of the underlying trend is required before the strategy will start creating trading signals. 3. The length and factor values of the super trend indicator can be adjusted:ATR Length SuperTrend and Factor Super Trend 4. You can set the source value used by the ema trend indicator to determine the ema line: Source Ema Ind 5. You can set the EMA length and the percentage value to follow the price: Length Ema Ind and Percent Ema Ind 6. The backtesting period can be adjusted: Start and End time of BackTest 7. Dollar cost per position: this is relevant for 100% fully automated trading. 8. Trade direction can be adjusted: LONG, SHORT or BOTH 9. As we explained above, we can determine our stop-loss and take-profit levels dynamically or statically. (Version 1 or Version 2 ) Display options on the charts graph 12): 1. Show horizontal lines for the Stop-Loss and Take-profit levels on the charts. 2. Display relevant Trend Lines, including color setting options for the supertrend functionality. In the example below, green lines indicate a confirmed uptrend, red lines indicate a confirmed downtrend. Other comments • This indicator has been optimized to be applied for 1 hour-charts. However, the underlying principles of this strategy are supply and demand in the financial markets and the strategy can be applied to all timeframes. Daytraders can use the 1min- or 5min charts, swing-traders can use the daily charts. • This strategy has been designed to identify the most promising, highest probability entries and trades for each stock or other financial security. • The combination of the qualifiers results in a highly selective strategy which only considers the most promising swing-trading entries. As a result, you will normally only find a low number of trades for each stock or other financial security per year in case you apply this strategy for the daily charts. Shorter timeframes will result in a higher number of trades / year. • Consequently, traders need to apply this strategy for a full watchlist rather than just one financial security.
Pine Script™ strategy
by JS_TechTrading
4
Rich Robin Index, The Crypto Fear & Greed Index with RSI Trend The Relative Strength Index (RSI) is a technical indicator based on price movements that is used to determine whether a particular asset is overbought or oversold. It measures the ratio of rising to falling prices over a certain period of time. The Fear & Greed Index, on the other hand, is a composite index that tracks the sentiment of the crypto market. It is based on seven indicators, each of which measures a different aspect of market behavior. These indicators are: Safe Haven Demand, Stock Price Breadth, Market Momentum, Stock Price Strength, Put and Call Options, Junk Bond Demand, and Market Volatility. The combination of the RSI and the Fear & Greed Index can provide valuable insights for crypto traders. The RSI can help identify overbought and oversold conditions, while the Fear & Greed Index can give an overall sense of the sentiment in the market. Together, they can provide a more complete picture of the market conditions. For example, if the RSI is indicating that an asset is overbought, but the Fear & Greed Index is showing that the market is still in a state of fear, it may be a good time to sell. On the other hand, if the RSI is indicating that an asset is oversold, but the Fear & Greed Index is showing that the market is in a state of greed, it may be a good time to buy. Overall, the combination of the RSI and the Fear & Greed Index can provide useful information for traders to make more informed decisions, by giving a sense of the market conditions, and providing a way to identify overbought and oversold conditions.
Pine Script™ indicator
by Quotum_consultancy
RSI Accumulation/Distribution [M]Hello everyone, After my long tests, I observed that the rate of change of direction of the price was high after the periods when the RSI spent a long time outside the band. As a result of my observations, I prepared this indicator. This indicator shows you the accumulation and distribution areas that occur outside the rsi band. There are 3 different levels available. Level 1 = 5 Bars Level 2 = 7 Bars Level 3 = 9 Bars For example, if the RSI spends more than 9 bars below the 30 level or above the 70 level, it will paint that area red. Levels can be changed from the indicator settings. The rsi is smoothed with simple moving average to reduce fake signals. Using the RSI A/D indicator with different indicators or patterns will increase your success rate. Examples:
Pine Script™ indicator
by Milvetti
2
RSI ProfileThis indicator shows the RSI profile from historical RSI Value and High / Low RSI Pivots. It is inspired by the Volume Profile which is a common charting study that indicates activity at specified levels. It plots a histogram on the chart meant to identify dominant/significant levels. This script is profiling RSI levels into a histogram, which can identify the crucial RSI values in the chart. Along with the pivot options that can help identify the dominant pivot points where RSI values had been rebounding historically. How to use: There are three profile types available in the settings. When selecting RSI Values, the indicator will count RSI values from history, and plot the count in a histogram at the end of the chart. If you select RSI Pivots High or RSI Pivots Low, the indicator will count only the RSI Pivot Highs and Lows and plot the count in a histogram. Users can select the Pivot Left/Right length from the settings. Users can extend the POC line to the left, to study how the values had been reacting to POC Please note: Since the RSi values range from 0 to 100, the indicator is rounding off the values to absolute numbers. This can cause a situation where multiple POC are identified, to find the unique POC, you can increase the width of the histogram. The Max/Min RSI settings are for visual purposes only, it can help users shrink down the histogram's top and bottom visibility
Pine Script™ indicator
by AtifRizwan
1
Multi Type RSI [Misu]█ This Indicator is based on RSI ( Relative Strength Index ) & multiple type of MA (Moving Average) to show different variations of RSI. The relative strength index (RSI) is a momentum indicator used in technical analysis to evaluate overvalued or undervalued conditions in the price of that security. █ Usages: The purpose of this indicator is to obtain the RSI calculated with different MAs modes instead of the classic RMA. The red and green zones indicate the oversold and overbought zones. Buy or sell signals are marked by the green and red circles We have 2 different signal modes : when the different size RSIs cross and when the fast RSI crosses the extreme bands. Alerts are setup. █ Parameters: Lenght RSI: The lenght of the RSI. (14 by default) RSI MA Type: The type of MA with which the rsi will be calculated. ("SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA") Fast Lenght MA: The fast lenght smoothing MA. Slow Lenght MA: The Slow lenght smoothing MA. Lower Band: The lenght of the lower band. (25 by default) Upper Band: The lenght of the upper band. (75 by default) Signal Type: The mode with which buy and sell signals are triggered. ("Cross 2 Mas", "Cross Ma/Bands")
Pine Script™ indicator
by Fontiramisu
3
TURK RSI+ICHIMOKUTypical RSI indicators were plotted with candles and expressed wick to resemble a candle chart, and linear regression was added to predict changes in force intensity, which allowed us to confirm support and resistance within linear regression . In addition, divergence signal was marked as an additional basis for the price fluctuation point due to support and resistance . In other words, if the diversity signal appears together when the rsi candle is supported and resisted within linear regression , this is the basis for predicting that it is a point of change in the existing trend. Finally, the period value and standard deviation of linear regression can be arbitrarily modified and used. I hope it will help you with your trading. -------------------------------------------------------------------------------------------------------------------------------------------------------------- (+ichimoku cloud) Clouds made of the preceding span 1 and the preceding span 2 of the balance table can predict the trend by displaying the current price balance ahead of the future. In addition to the role of clouds in the above-described balance sheet , this indicator also shows the cloud band support and resistance of the current RSI value. TG:- @turk_shariq
Pine Script™ indicator
by alen746
2
RSI Scalping & Swing Signals With AlertsThis RSI indicator shows a green or red ribbon when the smoothed RSI is bullish or bearish. It also includes a long moving average for overall trend confirmation. Wait until the ribbon holds above or below the long moving average and take positions in that direction. To get an easier to read RSI indicator, I smoothed the RSI out and paired it next to a short term RMA. These two together form the ribbon that will show you early reversals and trend direction. The long moving average is used as an overall trend detector and confirmation for longer term trends. ***HOW TO USE*** Scalping: Enter longs when the ribbon turns green and enter shorts when the ribbon turns red. Exit positions when the ribbon turns the opposite color or crosses the long moving average. Swing Trading: When the ribbon holds above the long moving average or breaks out and retests it, look for long positions and exit when the ribbon turns red or crosses the long moving average. When the ribbon holds below the long moving average or breaks down and retests it, look for short positions and exit when the ribbon turns green or crosses the long moving average. ***DETAILS*** This indicator gives early reversal signals very well and waiting for the RSI ribbon to cross the long moving average helps to get you into positions when the market is ready to really move while filtering out some of the noise. The ribbon and background will change to green or red depending on whether it is currently bullish or bearish. There is also a label that changes colors and tells you if RSI is bullish or bearish and also whether the RSI ribbon is above or below the long moving average. Green or red circles will appear on the indicator when there is a bullish or bearish cross of the RSI ribbon and the long moving average. It also has alerts that trigger when RSI is turning bullish/bearish or when the RSI ribbon is crossing the long moving average. ***CUSTOMIZATION*** Each piece of this indicator can be customized to suit your preferences including the RSI source, length, smoothing length, short moving average length and long moving average length. You can also turn off the labels, signals and long moving average. All of these settings can be managed within the indicator settings input tab. ***MARKETS*** This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex. ***TIMEFRAMES*** This RSI Scalping & Swing Signals indicator can be used on all timeframes. ***TIPS*** Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are Trend Friend Scalp & Swing Trade Signals, Volume Spike Scanner, Buy & Sell Pressure Volume Profile, and Momentum Scalper in combination with this RSI indicator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
Pine Script™ indicator
by FriendOfTheTrend
4
BB-RSI-ADX Entry PointsThis is a combination of indicators used to find oversold and overbought entry points for possible reversion. A Green arrow will appear when all condition are met for an ENTER LONG position. A Red arow will appear when all condition are met for an ENTER SHORT position. You can modify all of these condition parameters from the indicator's settings. How does the indicator work The signals are using Bollinger Bands , BB %B , RSI and ADX indicators to try and find points of reversal Enter LONG Conditions Current candle low is below BB lower band. The BB %B is more than 0. RSI > 30 ADX > 25 Enter SHORT Conditions Current candle high is above BB upper band. The BB %B is less than 1. RSI < 70 ADX > 25 Those are the default settings that seem to work for me but you can customize all of these from the indicator settings. I find this strategy to best work on a 3 minute timeframe Note: The bb %B is calculated for stDev - 1. This will help you see a change happening faster.
Pine Script™ indicator
by frixou89
2
Double RSI/LSMA Double RSI uses a Slow RSI combined with a Fast RSI to generate Buy and Sell signals. Least Squares Moving Average is only here for filtering signals. It is very good on certain stocks or ETFs on longer timeframes for swing trading. If you get a Buy signal look at the LSMA trend and if the candle is above the LSMA. It works great for me on lower timeframes scalping futures and on higher timeframes swinging options. It is better than paying for Buy and Sell signals. Its my first script/indicator so play with it and see what you think. Let me know if you guys find anything that makes it better. Hopefully this helps some traders out there.
Pine Script™ indicator
by barrettdenning
12
Kozlod - RSI Strategy - 1 minuteStarted to play with very simple strategies. Trying to find ones with optimal parameters which work well for certain symbols/timeframe. Found that basic RSI strategy without any position management with high RSI length (65 in this script) works pretty good for 1m chart for few stocks. It's also not bad for AAPL , SPY . It might not work very good on it's not but can give you a pretty good base for more complicated indicators. And remember: Past performance does not guarantee future results.
Pine Script™ strategy
by QuantNomad
3
CSI - Currency strength indicator RSI 10This Indicator shows you the strength of the Currency in comparison for all other Main Currencys at the timeframe you choose. The Currencys in this Indicator is: EUR, USD, GBP, CHF, AUD, CAD, JPY The Base is the RSI (relative strength Indicator) with the following Currency pairs: eurusd, eurgbp, euraud, eurjpy, eurcad, eurchf usdeur, usdgbp, usdaud, usdjpy, usdcad, usdchf gbpeur, gbpusd, gbpaud, gbpjpy, gbpcad, gbpchf audeur, audusd, audgbp, audjpy, audcad, audchf jpyeur, jpyusd, jpyaud, jpygbp, jpycad, jpychf cadeur, cadusd, cadaud, cadgbp, cadjpy, cadchf chfeur, chfusd, chfaud, chfgbp, chfjpy, chfcad The letters in the LineChart: EUR = E USD = U GBP = G CHF = C AUD = A CAD = C JPY = J The CSI can help to see, if your trading pair have the potential to breakout on the support and resistance or if it more likely go back. Some people say that the banks use this indicator. NZD is missing there because Tradingview only support 6 variables. If you have a solution for than, please let me know. Thanks
Pine Script™ indicator
by MarkUs
7