OPEN-SOURCE SCRIPT
RS Framework Entry Scanner
This script is an advanced trading strategy for TradingView using relative strength (RS) analysis and traditional technical indicators. It's designed to identify high-probability long and short entry points on the daily chart for swing trades lasting 5-15 days.
Key features and usage guide:
1. Relative Strength (RS) Scoring:
- Computes 3-month and 6-month RS vs a benchmark (default: RSP ETF)
- Stock gets +1 for each of: 3M RS > 0, 6M RS > 0
- Background color shows current RS regime
2. Technical Indicator Scoring:
- Stock gets +1 for each of:
- Price above 200 SMA (structural uptrend)
- MACD histogram > 0 (momentum)
- RSI between 40-75 (healthy, not overbought/oversold)
- Uses standard moving averages (200, 50, 20 EMA)
3. Entry Triggers:
- Looks for any of these patterns:
- EMA pullback: Price near the 20 EMA
- MACD cross: MACD histogram crossing 0 with volume
- Breakout: New high/low on increased volume
- Long entry: RS score ≥ 4/5 ("A" grade) + bullish trigger
- Short entry: RS score ≥ 4/5 ("A" grade) + bearish trigger
- Triangles mark entries, small circles show qualifying RS setups
4. Score Table:
- Summarizes current RS metrics, indicator scores, active triggers
- Color-codes pass/fail status for each factor
- Displays overall long/short scores, RS trend, trigger labels
To use in your trading:
1. Add the script to a daily chart of a stock or ETF
2. Adjust the benchmark symbol if needed (default: RSP)
3. Review the background color for overall RS regime
4. Check table for current RS metrics and setup grade
5. Look for large triangle entries with a qualifying score
6. Confirm volume and price action aligns with the signal
7. Place trade in direction of entry with 5-15 day horizon
8. Trail stop above/below relevant swing point or moving average
9. Consider taking partial profits at measured move targets
The script aims to put the odds in your favor by requiring multiple technical and relative strength factors to line up before giving an entry signal.
Key features and usage guide:
1. Relative Strength (RS) Scoring:
- Computes 3-month and 6-month RS vs a benchmark (default: RSP ETF)
- Stock gets +1 for each of: 3M RS > 0, 6M RS > 0
- Background color shows current RS regime
2. Technical Indicator Scoring:
- Stock gets +1 for each of:
- Price above 200 SMA (structural uptrend)
- MACD histogram > 0 (momentum)
- RSI between 40-75 (healthy, not overbought/oversold)
- Uses standard moving averages (200, 50, 20 EMA)
3. Entry Triggers:
- Looks for any of these patterns:
- EMA pullback: Price near the 20 EMA
- MACD cross: MACD histogram crossing 0 with volume
- Breakout: New high/low on increased volume
- Long entry: RS score ≥ 4/5 ("A" grade) + bullish trigger
- Short entry: RS score ≥ 4/5 ("A" grade) + bearish trigger
- Triangles mark entries, small circles show qualifying RS setups
4. Score Table:
- Summarizes current RS metrics, indicator scores, active triggers
- Color-codes pass/fail status for each factor
- Displays overall long/short scores, RS trend, trigger labels
To use in your trading:
1. Add the script to a daily chart of a stock or ETF
2. Adjust the benchmark symbol if needed (default: RSP)
3. Review the background color for overall RS regime
4. Check table for current RS metrics and setup grade
5. Look for large triangle entries with a qualifying score
6. Confirm volume and price action aligns with the signal
7. Place trade in direction of entry with 5-15 day horizon
8. Trail stop above/below relevant swing point or moving average
9. Consider taking partial profits at measured move targets
The script aims to put the odds in your favor by requiring multiple technical and relative strength factors to line up before giving an entry signal.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.