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RSI sma ver 6 beta

0 709 Views No Comments 2 years ago

HTS CLOUDALPHA

dmaclennan
** ignore ATR, not being used currently **

New to scripting 🙂
Would love some suggestions on how to refactor it

Im experimenting with multiple take profits and trailing stop-loss, for better risk management.

I have a fixed amount of 10 Take Profits.
If anyone can refactor the script to make the number of take profits dynamic (set by a user input) let me know!

I like it on the 6 hour candle.

HOW IT WORKS
Basic RSI moving average cross-over strategy.
Will go long when RSI crosses over the ma, short when crosses under.
The Input “Gaps Between Take Profits” is a percentage.
The Input “Stop Loss” is a percentage
The Input “Stop Loss Follow Distance” is NOT a percentage. It follows the take profits when they get hit.
By default (0), the stop loss stays 2 take profit levels behind. If you set it to 1, it will stay 3 take profit levels behind etc etc.
This can give you more room for the price to retrace, but increases risk.

Any feedback welcome
Thanks for checking it out

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