Monthly DI+ & RSI Strategy by Ganamurthy
By Ganamurthy
Performance Metrics
- Author: Ganamurthy
- Symbol: NSE:PIIND
- Timeframe: 1 month
- Net P&L: +2,241.60 INR (+0.22%)
- Win Rate: 50.0%
- Profit Factor: 5.063
- Max Drawdown: 352.70 INR (0.04%)
- Total Trades: 4
Description
Overview This strategy is designed to capture significant trend reversals and continuations on the Monthly timeframe. It combines the trend-following capability of the Directional Movement Index (DMI) with the fast momentum detection of RSI (Period 6).Core Logic The strategy triggers a long position based on a dual-confirmation system. It looks for a specific "handshake" between Trend (DI) and Momentum (RSI).Entry Conditions (OR Logic) A Buy signal is generated if EITHER of the following occurs:Trend Trigger: DI+ crosses over DI- (while RSI is already bullish, trading above its SMA).Momentum Trigger: RSI(6) crosses over RSI SMA(14) (while the trend is already bullish, with DI+ > DI-).Exit Condition (Stop Loss)Trend Reversal: The position is closed immediately if DI- crosses over DI+, indicating the bullish trend has been invalidated.Default SettingsTimeframe: Optimized for 1M (Monthly) charts.RSI: Length 6RSI SMA: Length 14DMI: Length 14 / Smoothing 14Risk Warning This script is for educational purposes only. Past performance does not guarantee future results. Always backtest on your specific asset classes before trading.