This is a script that generates a BUY signal by combining RSI and Stochastic RSI into the same script and that can easily be integrated into an external Backtester like the one I published. The script uses default values for RSI and Stochastic RSI oversold conditions. They should be adjusted for specific assets and timeframes so they better match the current trend. Please beware you might overfit settings to match a short timeframe trend (like a few days or hours). If this is the case once the trend changes the signals will not be accurate.
The purpose of this script is to provide some pine code that can be used to further combine multiple indicators into a LONG Deal Start signal.
Integration with the Zendog Backtster: - add the backtester on the chart - add this script on the chart - in the Zendog backtester Deal start type select "External indicator" - in the Zendog backtester Indicator source and value select "Zendog LONG DCA Trigger RSI+StochRSI: SIGNAL"
Thank you for sharing! Can you tell me how I can both (Long and Short) Signals in one Script? :) - with different inputs
zendog123
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@kevinamend, You can copy-paste to combine both scripts into one
TheHalf-BloodPrince
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@zendog123, thank you :) Can you help me one more time? I try to filter the singnals by taking a break after each signal (for N bars or N minutes) I tried it with barssince But I can't do it :(
zendog123
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@kevinamend, Try this for line 73: signal_trigger_dca = (rsi_start_condition and stochk_start_condition and stochd_start_condition and barssince(signal_trigger_dca == 1) > 3) ? 1 : 0
...just replace 3 with whatever you want. hope it works
TheHalf-BloodPrince
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@zendog123, hey thank you but that doesn’t work :(
zendog123
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@kevinamend, I wrote it from the tip of my head. This works (replace line 73 with these lines): var int last_bar = 0 signal_trigger_dca = (rsi_start_condition and stochk_start_condition and stochd_start_condition and bar_index > last_bar + 3) ? 1 : 0 if signal_trigger_dca == 1 last_bar := bar_index
Hi, can you guide how to set an alert for the buy or sell signal? While creating an alert it shows crossing and value but not specifically choosing to set only Buy or sell alerts when it triggers.
JeremySato
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Hello, I like your indicator very much and would like to ask you if there is the same indicator for short trade. I am new to Tradingview platform and cannot use this well. Thank you so much. Jeremy