This script has been Inspired by PlanB Article Quant Investing 101.
With this script, I implemented Plan B strategy outlined in that article, trying to reproduce his findings independently and allowing TradeView Users to do the same.
PlabB is aware of this effort, and he's positive about it, via Twitter commenting, liking and sharing of this resource .
Trading Idea: This script uses RSI index to determine the Buy And Sell signal.
As per the original PlanB article:
IF ( RSI was above 90% last six months AND drops below 65%) THEN sell, IF ( RSI was below 50% last six months AND jumps +2% from the low) THEN buy, ELSE hold
My simple code is aimed at replicating his study in Pine so that every TV user can check his signal.
This is great but for some reason I can only see the signals on the Monthly time frame how do I print them on lower scales?
Thanks!
B
Sophie0611
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Thanks for doing this!
shifty221
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Hi there,
Amazing work and thank you, just to let you know i think the script has a one month lag vs Planb. Eg the buy signal should be set at July 2022 not august.
Thanks!
B