so this script just take it as teaching how to make easy strategy many time we try complex one and we fail thanks to coinrule for his very smart method of pyramid tradingview.com/script/7NNJ0sXB-Pyramiding-Entries-On-Early-Trends-by-Coinrule/ i just here in this very simple rsi strategy want to show how even lame strategy like RSI can be very profitable:) 1. we exit by take profit 2. we make sure that for exit by take profit the stop loss will be far lets say 10% or more 3. this shit only work good in up trending markets:)
why regular rsi strategy not working? because the exit is shity ... it depend on false top that based on RSI above 70 or 80 in general. in bullish state this will exit us faster then we desire and will cost us loss . in bearish state rsi will not go so high and we exit too late so the stop loss is our our only saver here by exiting by% we get much better results so what happen if the trend is bearish? you can can try to do the same just reverse order to create more shorts (sometime it work sometime is not) end conclusion in bullish trending market even shifty strategy is good the only reason this one work is actually because of the script of coinrule so i want to thank him on this happy new year to all TV members
//For those of you that have a limit on how many indicators you can have on a chart,
//this may help you out in terms of adding multiple MA's while only adding 1 indicator.