OPEN-SOURCE SCRIPT
Updated Connor's RSI(2) Signal
Disclaimer: This strategy is taken from Larry Connor's R3 Strategy. I myself do not hold the copyright of this strategy.
Buy Conditions
==============
1. Price is above SMA-200.
2. Last two days, RSI line dropped down from level 60.
3. Today, RSI line drops down from level 10.
4. Buy on close price.
5. Close position when RSI line crosses up level 70.
Sell Conditions
==============
1. Price is below SMA-200.
2. Last two days, RSI line rose up from level 40.
3. Today, RSI line rises up from level 90.
4. Sell on close price.
5. Close position when RSI line crosses down level 30.
Buy Conditions
==============
1. Price is above SMA-200.
2. Last two days, RSI line dropped down from level 60.
3. Today, RSI line drops down from level 10.
4. Buy on close price.
5. Close position when RSI line crosses up level 70.
Sell Conditions
==============
1. Price is below SMA-200.
2. Last two days, RSI line rose up from level 40.
3. Today, RSI line rises up from level 90.
4. Sell on close price.
5. Close position when RSI line crosses down level 30.
Release Notes
Revised criteriaRelease Notes
Revised CriteriaDisclaimer: This strategy is taken from Larry Connor's R3 Strategy. I myself do not hold the copyright of this strategy.
Buy Conditions
==============
1. Price is above SMA-200.
2. RSI line drops below 10.
Sell Conditions
==============
1. Price is below SMA-200.
2. RSI line rises above 90.
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.