OPEN-SOURCE SCRIPT
DRSI DMA Scalping Strategy No Repaint
This strategy compares the slope of a Moving Average (of your choosing) to the slope of a Momentum Indicator (of your choosing). Zero is the center line because 0 slope means sideways movement. When both lines cross your buy threshold, it buys. When both lines cross your Sell threshold, it sells. The lines may look choppy, but that is probably because it is referencing a different timeframe than what the chart is set to. I left as many settings adjustable by the user as possible so you can tune this strategy to the relative behavior of whatever you are trading.
This also includes a No Repaint function so the backtest should be as close to live trading as possible.
This also includes a No Repaint function so the backtest should be as close to live trading as possible.
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.