▼ This is the study version of the script, For usage with Autoview
◊ Introduction This script makes use of three RMI's, that indicate Overbought/Oversold on different timescales that correspond with Frequency’s that move the market.
◊ Origin The Relative Momentum Indexwas developed by Roger Altman and was introduced in his article in the February, 1993 issue of Technical Analysis of Stocks & Commodities magazine. While RSI counts up and down ticks from close to close, the Relative Momentum Index counts up and down ticks from the close relative to a close x number of days ago. This results in an RSI that is smoother, and has another setting for fine tuning results.
This bot originated out of Project XIAM, an investigative script that outlined my approach towards Automated Trading Strategies. Are you interested in writing bots yourself ? check out the beta version of this script. It has many bugs, but also most of the Skeleton.
◊ Usage This script is intended for Automated Trading with AUTOVIEW or TVAUTOTRADER, on the 1 minute chart.
◊ Features Summary
Overlay Mode
Indicator Mode
Three RMI's
Trend adjustment
Pyramiding
Ignore first entries
Take Profit
Stop Loss
Interval between Entries
Multiring Fix
Alert signal Seperation
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◊ Setting up Autoview Alerts Use the study version of this script, To set up The Alerts Autoview Picks up on.
The Signals to work with are :
Open 1 Long
Use this to open one Long Position. With quantity being : [ Equity to play with ] / [ ( Pyramiding – Ignore # First Entries ) * (Leverage ) ] Once per bar Being larger than 0 Comment example : e=exchange b=long q=amount t=market
Open 1 Short
Use this to open one Short Position. With quantity being : [ Equity to play with ] / [ ( Pyramiding – Ignore # First Entries ) * (Leverage ) ] Once per bar Being larger than 0 Comment example : e=exchange b=short q=amount t=market
Close1 Position
Use this to Close The amount of one Open Position. With quantity* being : [ Equity to play with ] / [ ( Pyramiding – Ignore # First Entries ) * (Leverage ) ] Once per bar Being larger than 0 Comment example : e=exchange c=position q=amount t=market
*Beware when using a percental % quantity, instead of an absolute quantity. Percental Quantities are based on the [ Open Amount ], Not [ Equity to play with ] And will change in absolute value relative to the amount of open trades.
Close All positions
Use this to Close All Open Positions. With quantity being : [ Equity to play with ] Once per bar Being larger than 0 Comment example : e=exchange c=position t=market
For the specific Syntax used in the comment of the alert, visit Autoview.
◊ Setting up TVAutotrader Use the strategy version of this script, And load it into TVAT.
◊ Backtesting Use the strategy version of this script for backtesting.
◊ Contact Wanna try this script out ? need help resolving a problem ?