DANI _ MTF Pullback Strategy by VKtrade2025
By VKtrade2025
Performance Metrics
- Author: VKtrade2025
- Symbol: SP:SPX
- Timeframe: 15 minutes
- Net P&L: +167.38 USD (+1.67%)
- Win Rate: 50.0%
- Profit Factor: 6.531
- Max Drawdown: 76.65 USD (0.77%)
- Total Trades: 2
Description
MTF Pullback - RSI Panel SummaryPurpose: Companion indicator for the main strategy that displays RSI with divergence detection in a separate pane below the price chart.SettingsParameterDefaultDescriptionRSI Length14Lookback period for RSI calculationRSI Oversold Level30Threshold for oversold conditionRSI Overbought Level70Threshold for overbought conditionDivergence Lookback Bars10How many bars to look back for divergence detectionWhat It DisplaysRSI Line — Changes color based on zone:Purple = neutral (between 30-70)Green = oversold (below 30)Red = overbought (above 70)Horizontal Levels:Red dashed line at 70 (overbought)Green dashed line at 30 (oversold)Gray dotted line at 50 (midpoint)Zone Fills:Light red shading above 70Light green shading below 30Divergence Markers:"DIV" label with lime circle = bullish divergence (price makes lower low, RSI makes higher low while oversold)"DIV" label with fuchsia circle = bearish divergence (price makes higher high, RSI makes lower high while overbought)Background Flash:Green flash when bullish divergence detectedRed flash when bearish divergence detectedDivergence LogicBullish: Price makes a lower low AND RSI makes a higher low AND RSI is in oversold territory → potential reversal upBearish: Price makes a higher high AND RSI makes a lower high AND RSI is in overbought territory → potential reversal downand for the strategy15:36Outlined strategy script components and display mechanics.The user wants a summary of the main strategy script, similar to what I provided for the RSI panel. I should cover the purpose, settings, entry conditions, exit conditions, and what it displays on the chart.MTF Pullback Strategy SummaryPurpose: Multi-timeframe pullback strategy that trades trend continuations. Uses 4H timeframe for trend direction and entry timeframe (typically 15M) for precise entries based on RSI divergence and engulfing patterns.SettingsParameterDefaultDescriptionTimeframesHigher Timeframe240 (4H)Timeframe for trend detectionTrend FilterEMA Length50EMA period for trend directionRSIRSI Length14RSI calculation periodRSI Oversold Level30Long entry RSI thresholdRSI Overbought Level70Short entry RSI thresholdDivergence Lookback10Bars to scan for divergenceSwing DetectionSwing Lookback5Bars left/right to confirm swingRisk ManagementATR Length14ATR calculation periodStop Loss ATR Multiplier2.0SL = 2× ATR from entryTake Profit %2.0TP = entry ± 2%Trade DirectionTrade LongstrueEnable long tradesTrade ShortstrueEnable short tradesEntry ConditionsLong Entry (all must be true):4H uptrend (price above 50 EMA + EMA rising)Current price above 4H 50 EMAPrice pulling back from recent 4H swing highRSI oversold (70) or above 60Bearish RSI divergence OR RSI turning down from overboughtBearish engulfing candle at or within 2 bars after swing highExit ConditionsExit TypeLongShortStop LossEntry - (2 × ATR)Entry + (2 × ATR)Take ProfitEntry × 1.02 (+2%)Entry × 0.98 (-2%)What It DisplaysOn Chart:Blue line = 4H 50 EMAGreen triangle below bar = long entry signalRed triangle above bar = short entry signalGreen background tint = 4H uptrend activeRed background tint = 4H downtrend activeInfo Table (top right):FieldShows4H TrendUP ↑ / DOWN ↓ / NEUTRALPrice vs EMAABOVE / BELOWPullback LYES/NO (long pullback active)Pullback SYES/NO (short pullback active)Bull DivYES/NO (bullish divergence)Bear DivYES/NO (bearish divergence)Strategy Logic Flow4H TREND CHECK ↓PRICE VS 50 EMA ↓PULLBACK DETECTED? ↓RSI CONDITION MET? ↓RSI DIVERGENCE? ↓ENGULFING AT SWING? ↓ ENTRY → SL (2×ATR) + TP (2%)Alerts AvailableLong Entry Signal — Triggers when all long conditions alignShort Entry Signal — Triggers when all short conditions alignRecommended UsageApply to 15-minute chart (fetches 4H data automatically)Use alongside the RSI Panel indicator for visual confirmationBacktest on trending pairs/assets (crypto, forex majors, indices)Adjust ATR multiplier if stops are too tight/wide for your asset