Pivot Point Reversal + RSI Strategy by QuantNomad

TradingView

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relativestrengthindex trendanalysis pivotpoints pivot pivothigh pivotlow eth ethusd ethusdt

This strategy joins the Pivot Reversal strategy with the RSI indicator.
We check RSI level at the pivot point level and only if RSI condition is satisfied we update levels for stop orders.
The strategy works pretty good for crypto, 30m, 1h, 2h timeframes.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Courses:
PineScript Programming: https://qntly.com/pinepro
TradingView Essential: https://qntly.com/tve

Access to Pro Indic.: https://qntly.com/proind

YouTube: https://qntly.com/youtube
Discord: https://qntly.com/discord
Telegram: https://qntly.com/tel

Comments

It seems a good strategy. Do you know how to convert it in an only-long strategy? Let's say i'd like to Long-entry and close trades.
Thanks

Very cool. Was reading about Robert Colby's system and figured one of the TV pine OG's already had some resources. thx for sharing!

thanks it works well but its possible to add an alert?

Anthony_Ab

@Anthony_Ab,

QuantNomad

@QuantNomad, Ok thanks a lot. do you trade with this script on commodities?

Anthony_Ab

@Anthony_Ab, nope, haven't tried that on commodities, does it work well?

QuantNomad

@QuantNomad, yes so far around 70% winning rate but I need to do more backtesting. do you you have another script similar with buy/sell for commodity please?

is it work in nifty

interesting idea with promise, but rsi can't be changed, and the source needs to be on the close of candle