Parbolic SAR + RSI stategy [Highly dubious - Do NOT use this]
Educational purposes only.
* CAUTION: THESE RESULTS ARE LIKELY VERY INCORRECT *
TradingView's backtester is quite broken. As you can see this strategy yields a laughable 95% success rate. In reality it's probably - at best - closer to half that or even less.
This is a demonstration reminder that people peddling get-rich-quick bots on Twitter etc are not to be taken at face value, do your research first as you can see how easy it is to forge very impressive results.
Use 'Replay' to step through the chart and you'll see a mismatch between the replay signals and the regular static/live data.
That aside, this strategy is actually a reasonable and interesting approach, I'd be keen to pursue it further if TV wasn't so uselessly untrustworthy.
You are of course free to use this in any way you like. But I'd strongly recommend using another platform to design your algorithms.
* CAUTION: THESE RESULTS ARE LIKELY VERY INCORRECT *
TradingView's backtester is quite broken. As you can see this strategy yields a laughable 95% success rate. In reality it's probably - at best - closer to half that or even less.
This is a demonstration reminder that people peddling get-rich-quick bots on Twitter etc are not to be taken at face value, do your research first as you can see how easy it is to forge very impressive results.
Use 'Replay' to step through the chart and you'll see a mismatch between the replay signals and the regular static/live data.
That aside, this strategy is actually a reasonable and interesting approach, I'd be keen to pursue it further if TV wasn't so uselessly untrustworthy.
You are of course free to use this in any way you like. But I'd strongly recommend using another platform to design your algorithms.
Anyway, it's just a parabolic SAR mixed with an RSI oversold/bought signal. Really simple.