RSI5_50 with Divergence — Strategy by eemani123
By eemani123
Performance Metrics
- Author: eemani123
- Symbol: NASDAQ:GOOGL
- Timeframe: 1 day
- Net P&L: +7,286.44 USD (+72.86%)
- Win Rate: 99.0%
- Profit Factor: 5,830.152
- Max Drawdown: 1.25 USD (0.01%)
- Total Trades: 103
- Sharpe Ratio: 0.195
Description
This is variation of RSI Divergence strategy.I have added a filter (long term RSI) to the Rules. strategy BUYs when RSI 50 period is above 50 line and there is divergence on the short term RSIsettings=========short term RSI period 5long term RSI period 50stopLoss is 8% --- if setting is enabledBUY Rule========RSI 50 is above 50 lineshort term RSI is showing divergenceAdd to existing==============if already in position, BUY when shorTermRSI is crossing above 20TakeProfit=========when longTermRSI reaches 60,65, 70 and 75 level , take partial profits .(not when crossing down --- This may affect on profits , because when price goes down , it goes very fast )Exit=====when longTermRSI is crossing down 30OR stopLoss value hitsNote: When I tested this with GOOGL stock , I have got excellent results ... any experts there , please check everything is good with scripting ...Happy Trading