Hello everyone, this is my first script on TV. I have done some research on cryptocurrency strategies and much of which has been in technical indicators by combining trend and momentum analysis together. Pine Script is quite a difficult language to learn as opposed to Python.
Anyways, I made some adjustments for the RSI strategy to include a stop loss/take profit and added indicators upon the first initial overbought and oversold levels(70 and 30 respectively). Please DO give me advice or recommendations. Primarily, I am confused as to what metric the stop loss and take profit parameters are using as they do not change when the values are changed in the input. I am unable to tell whether the strategy repaints. Could someone explain why repainting typically occurs in crossovers?
*DISCLAIMER* This script is merely to help myself and others learn about the Pine Script language. I would not advise you to use this script for live trading. Thanks!
Thank you!
wonder if you know how to write this code. buy when rsi > 60 and sell when rsi < 40. When buy condition is valid, even if rsi goes below 60 in the following bars, buy condition remains as long as it does not go below 40. Same for sell condition, even if rsi goes above 40 in the following bars, sell condition remains as long as it does not go above 60. thanks in advance!!!
wwgv
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Hi, nice script... I think you should use this line to calculate the profit --> ((((strategy.openprofit + strategy.position_avg_price)/strategy.position_avg_price) - 1) * 100) This line return profit in % percentage
hannajhajjar
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Hello,
really good work, I extremelly appreciate yoy sharing it. Have you tried it with real funds or a paper trading account ?
thank you
tanner314
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Hello @hannajhajjar, thank you for the reply! From what I recall, I attempted to use this script on a real Bittrex account; however, I would use at your own risk, as the bot may repaint.
wonder if you know how to write this code. buy when rsi > 60 and sell when rsi < 40. When buy condition is valid, even if rsi goes below 60 in the following bars, buy condition remains as long as it does not go below 40. Same for sell condition, even if rsi goes above 40 in the following bars, sell condition remains as long as it does not go above 60. thanks in advance!!!