I programmed a strategy in tradingview called:
JoJ-Stochastic/RSI Strategy
To enhance entry or exit of trades
Combined Stochastic RSI and EMA50
We use Stochastic RSI to identify overbought (85) and oversold (15) areas.
You can change the values according to your circumstances.
If the indicator is below the oversold level, it means a buying opportunity, and if it is above the overbought level, it means a selling opportunity.
We use EMA50 to confirm buy and sell signals coming from Stochastic RSI.
A buy signal is considered valid if the prices are above the EMA50.
A sell signal is considered valid if the prices are below the EMA50.
Conditions for entering buy deals or exiting sell deals:
- Price breaks above EMA50
-Entering the oversold areas (15)
Conditions for exiting buy deals or entering sell deals:
- The price crossed the EMA50 downwards.
- Entering the buying saturation zones (85)
Features:
-Statistics for the total number of trades, the number of successful trades, the number of losing trades, the total amount of profit
- Change statistics date
-After completing each deal, the profit or loss is displayed above it.
Strategy link:
https://www.tradingview.com/script/1trlDrrK/
