OPEN-SOURCE SCRIPT
Volume-MACD-RSI Strategy
How It Works:
Volume Signal: Detects if the current volume exceeds 1.5x the 20-period average.
MACD Crossover:
Buy: When MACD line crosses above the signal line.
Sell: When MACD line crosses below the signal line.
RSI Signal:
Buy: RSI is below 30 (oversold).
Sell: RSI is above 70 (overbought).
Parameters to Adjust:
Volume Multiplier: Default is 1.5, can be adjusted based on volatility.
RSI Levels: Default oversold is 30 and overbought is 70, adjust based on market behavior.
MACD Lengths: Default is 12, 26, 9.
Volume Signal: Detects if the current volume exceeds 1.5x the 20-period average.
MACD Crossover:
Buy: When MACD line crosses above the signal line.
Sell: When MACD line crosses below the signal line.
RSI Signal:
Buy: RSI is below 30 (oversold).
Sell: RSI is above 70 (overbought).
Parameters to Adjust:
Volume Multiplier: Default is 1.5, can be adjusted based on volatility.
RSI Levels: Default oversold is 30 and overbought is 70, adjust based on market behavior.
MACD Lengths: Default is 12, 26, 9.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.