https://www.tradingview.com/script/xoNhEw5A-Oversold-Index-Star-bots/
This strategy is designed to focus on oversold markets with different buying conditions. Read tooltips for information on every step through the menu!
We are using RSI , moving averages of RSI , Bollinger Band and Supertrend.
You can also plot RSI on the chart with Unique Technique, using ATR for overbought and oversold lines.
With this script you can change source inputs, Take Profit, Stop Loss values, Bollinger Bands length,deviation,offset and RSI length, my type, crossing up – crossing down sell signals, plot RSI using ATR and much more.
There’s a date range backtest option as well.
New additional version of Oversold Index now with DCA !!
https://www.tradingview.com/script/4I58dVCz-Oversold-Index-DCA-Star-bots/
You can enter DCA on 20 custom levels or layers. It buys DCA when price hits the plotted blue line on the chart that’s set by input % triggers.
Set your inital capital and pyramiding in properties tab, order size % and DCA size % is changed under DCA section.
By default you can see that we trade (safe) 2% of equity and then start reinvesting 150% of current position size on the % price drop trigger.
Your first buy order is pyramiding 0 or 1. To allow it to buy 1 DCA or merge one time, set pyramding to 2.
Want to DCA 10 times? Set pyramiding at 11. (+1)
You can also merge the same position size over and over again if you set DCA order size to 100%. ( 100 $ + 100$ + 100$ = 10%+ 10%+ 10%)
Doouble down or 200% DCA order size example. 100$ + 200$ + 400$
When all trades are closed on your chart, winning rate of the strategy is 100% actually.
Win rate is shown differently as it’s actually closing and opening every trade individually by default in TradingView system. This script overrides the logic and merge positions together to sell in profit.
You use this Trading Algorithm at your behalf and at your own risk. Do not trade before backtesting or invest something you cannot afford to lose on markets.
New Oversold Index Optimizers!
https://www.tradingview.com/script/7Bror3WC-Oversold-Index-Optimizer-Star-bots/
Optimizing script will help you find Take Profit and Stop Loss levels on your buying conditions.
You can change parameters this is just a random set of settings that usually brings good results.
Optimizing tool should be used to help you find the sweet area, top results are not necessarily the best. On the chart above you can see that this nice trading setup was found between top 10-20 of optimizer results.
Test more of them on the strategy and look for the nicest equity curve with low drawdown % on backtester. That’s my easy recipe for good trading setup.
- One of the easier ways to setup trading system in oversold markets can be with simple merging setup – pyramiding 3..10 times and buy RSI(14) on cross-up 30 with EMA on 9 for example. Take profit and Stop Loss levels are scripted to always average down with your average holding price for your asset.
All Star strategies use dynamic alerts!
By using Star Bots Trading Algorithms, you agree with the terms of EULA and consent to be bound by them. You use the Trading Algorithm at your behalf and at your own risk. Star Bots is not responsibile or liable for your’s direct or indirect losses, damages, costs and expenses. You are not allowed to edit, copy, reproduce, distribute, resell, use the Trading Algorithm for signalling services, copy-trading or otherwise use the Trading Algorithm for your own or other’s interests or for any commercial purpose. If such or any other breach of EULA occur, you’re contract will be terminated immediately and you are obligated to stop all access and use of this Strategy.
