OPEN-SOURCE SCRIPT
DUAL RSI
- This system uses two RSI's with different settings
- Fast RSI Lenght is 16, buys when RSI price is oversold @ 91 or lower, and sells when RSI price is overbought at 70
- Slow RSI Lenght is 31, buys when RSI price is oversold @ 91 or lower, and sells when RSI price is overbought at 68
- Pyramiding is set to 2 since each system should be able to trade in the same direction on the same day
- The Red StopLine is a stop loss of 10% based on the combined strategic position average entry price.
- I've used a 2D chart because I prefer longer-term charts for higher quality signals
- The way I trade all the systems is to set up alerts to let me know when to look at what setups
- The system also has a market filter and does not trade when the close is lower than its 200 days moving average
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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