Pivot Points Support + Resistance Strategy
The WHAT
=============>
A strategy based off 3 indicators:
1) the original TV's "Pivot Points Standard" indicator
2) Cyclic RSI High Low With Noise Filter indicator (
) from @RozaniGhani-RG as basis for determining uptrend or downtrend
3) Mesa Advanced Triggers indicator (
) from @jordanfung to filter out the best high/low points where to open and close trades
The HOW
=============>
This indicator is fairly easy to set up.
First, start playing around with Pivot Options. Try setting TP and SL levels to 1 and Type to Traditional. Then keep changing TP to different levels and use the one that yields the best result. Then try changing SL to see if you can get any better income result from the strategy. Do this for Traditional, Fibo, Woodie and Classic types (DM and Camarilla didn't work too well in my testing) and keep the combination that yields the best Net Profit result for the strategy.
Once set up, start changing the cRSI EMA Period from 1 to whichever number makes sense to you (I usually end with 100 at most, but most of the time it's more like 50-70) and again - up to which number will yield the best result.
Lastly, try adjusting low and high pivot zones on MESA Pivots (0 to 1.8, -1.8 had the best results in my testing, usually 0 was best but sometimes 1.x yielded a lot better results for some coins).
That's it.
Once set up, use alarms to get notified when a trade can be opened / should be closed and profit.
Enjoy :)
=============>
A strategy based off 3 indicators:
1) the original TV's "Pivot Points Standard" indicator
2) Cyclic RSI High Low With Noise Filter indicator (
3) Mesa Advanced Triggers indicator (
The HOW
=============>
This indicator is fairly easy to set up.
First, start playing around with Pivot Options. Try setting TP and SL levels to 1 and Type to Traditional. Then keep changing TP to different levels and use the one that yields the best result. Then try changing SL to see if you can get any better income result from the strategy. Do this for Traditional, Fibo, Woodie and Classic types (DM and Camarilla didn't work too well in my testing) and keep the combination that yields the best Net Profit result for the strategy.
Once set up, start changing the cRSI EMA Period from 1 to whichever number makes sense to you (I usually end with 100 at most, but most of the time it's more like 50-70) and again - up to which number will yield the best result.
Lastly, try adjusting low and high pivot zones on MESA Pivots (0 to 1.8, -1.8 had the best results in my testing, usually 0 was best but sometimes 1.x yielded a lot better results for some coins).
That's it.
Once set up, use alarms to get notified when a trade can be opened / should be closed and profit.
Enjoy :)