05-30-2018, 12:37 AM
Yeah you would want to buy under the bottom line and sell over the top line. I imagine if we got this up and running there would be times when it dipped back below the buy line without triggering a sell, in which case it would probably just hold until it eventually crossed into the sell signal. You can see some visualizations here which will make it very easy to see how it works--
https://www.tradingview.com/script/8OxW1...yberCycle/
It's just a simple calculation applied to RSI and we already have a strategy for that so it shouldn't be terribly difficult for someone who has developed these strategies before. I would probably experiment with adding stop loss and tweaking the parameters to really maximize profit.
If you wanted to get really fancy, the best idea would be to start watching once it crosses the buy line and then try to buy when the price changes direction. Ideally you would want to do the same thing once it crosses the sell line, keep watching as long as the price is going up and then sell when the price reverses.
I got this strategy months ago from someone on a forum who _claimed_ to have made MASSIVE amounts of money using it. However they didn't have a way to automate it, they were just sitting there with alerts set up on trading view for tons of coins so they could get in and out of trades using the process described above. I think it might be a pretty cool project to try to automate for those of us that actually have a live and can't daytrade 12 hours a day 7 days a week.
https://www.tradingview.com/script/8OxW1...yberCycle/
It's just a simple calculation applied to RSI and we already have a strategy for that so it shouldn't be terribly difficult for someone who has developed these strategies before. I would probably experiment with adding stop loss and tweaking the parameters to really maximize profit.
If you wanted to get really fancy, the best idea would be to start watching once it crosses the buy line and then try to buy when the price changes direction. Ideally you would want to do the same thing once it crosses the sell line, keep watching as long as the price is going up and then sell when the price reverses.
I got this strategy months ago from someone on a forum who _claimed_ to have made MASSIVE amounts of money using it. However they didn't have a way to automate it, they were just sitting there with alerts set up on trading view for tons of coins so they could get in and out of trades using the process described above. I think it might be a pretty cool project to try to automate for those of us that actually have a live and can't daytrade 12 hours a day 7 days a week.