RSI Divergence Indicator strategy by eemani123
By eemani123
Performance Metrics
- Author: eemani123
- Symbol: NASDAQ:GOOGL
- Timeframe: 1 day
- Net P&L: +6,506.40 USD (+62.01%)
- Win Rate: 91.8%
- Profit Factor: 38.288
- Max Drawdown: 83.62 USD (0.78%)
- Total Trades: 61
- Sharpe Ratio: 0.096
Description
Apr 27, 2020This strategy is based on RSI divergence indicator.RSI period setting 5Go Long when Bull or Hidden Bull is shownExit when RSI goes above 75 OR when bear condition appearsApr 27, 2020Release Notesjust removed the unwanted indicator to make the chart clean ...Apr 27, 2020Release Notescleanup indicatorsMay 2, 2020Release Notes1. Look back period default setting updated to 32. strategy pyramiding default has been set to 2. (it would allow legging in to existing trade , when the same Long condition is met)May 13, 2020Release NotesI have added Take profit level parameter. Default value for this one is when RSI reaches 75. I have tested GOOGL with below settings > RSI 5, close, 3,1 and 75 which shows 87.21 % win rate and 7.059 profit factor. > RSI 8, close, 3, 1 and 75 which shows 89.55 % win rate and 8.471 profit factor> RSI 9, close, 3, 1 and 80 which shows 91.53 % win rate and 30.124 profit factorSame settings might not work for all symbols , you need to tweak the settings to get the 75% win rate and at least 3 profit factor.If I increase the take profit level to above 75 or RSI value above 5 , you might get Profit factor high, but number of trades reduces and number of bars in trades is high. I would say RSI above 5 and take profit level 80 and beyond works for Long Term ... (Investing style)Happy Trading :-)Apr 4, 2021Release NotesI have added parameter to trail stop loss. if this is selected , position will be exited based ATR length and multiplier value. When the position exits on Trailing Stop Loss , it displays comment TSL on the chart.Apr 4, 2021Release NotesTrailing stop Loss setting and calculation fine tuned.if you select Trailing Stop Loss ATR => Trailing stop loss is calaculated based on ATR length and ATR multiplierPERC => Trailing Stop Loss calculated based on PERC mentioned in Stop Loss settingNONE => This si default behaviour as published in original script