OPEN-SOURCE SCRIPT
Buy the Dip & Sell the Rip
Identify overbought and oversold conditions easily
When RSI and RSI SMA simultaneously close over the overbought threshold and then fall we create a sell alert
When the RSI closes under the oversold threshold and then starts to rise, we create a buy alert
With minor adjustments to the preset thresholds, this script works great on indexes, crypto as well as stocks.
This script is edited easily, just use pine editor and add your confirmation logic for further adjustment.
When RSI and RSI SMA simultaneously close over the overbought threshold and then fall we create a sell alert
When the RSI closes under the oversold threshold and then starts to rise, we create a buy alert
With minor adjustments to the preset thresholds, this script works great on indexes, crypto as well as stocks.
This script is edited easily, just use pine editor and add your confirmation logic for further adjustment.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.