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Specification
Hi there,
I am looking for a developer who can help me create a strategy/indicator based on my strategy for TradingView (pinescript). I would like all settings customisable and to be able to back-test all inputs within the in-built strategy tester. Details of the strategy are below, upon interest, I will provide images of how it should look.
Indicator List:
- Average True Range (ATR)
- Relative Strength Index (RSI)
Description:
Entry Criteria → if RSI is oversold = buy.
Entry Criteria → if RSI is overbought = sell.
Risk Management → ATR is used to determine stop loss and take profit placement via a multiplier → usually a 1:1 risk-to-reward.
Strategy Description:
The indicator/strategy will buy when oversold and sell when overbought based on the close of price.
The indicator/strategy will use a stop loss and take profit based on ATR multiplier based on the close of price.
The risk-to-reward ration for the strategy is mostly 1:1 → I would like the option to make the ATR multiplier very specific such as ATR Stop Loss Multiplier: 2 → ATR Take Profit Multiplier: 2.05.
The indicator/strategy must include Custom Trading Times such as 05:00am → 17:00pm where the indicator/strategy will only display/take buy/sell signals within this timeframe only.
The indicator/strategy must display the entry line based off the close of price as RSI is overbought/oversold and ATR take profit and stop loss lines (more details as to how these should be displayed to follow).
The indicator/strategy must only enter one position in one direction at a time → never more than one active position running at the same time until the trade has hit either ATR take profit or ATR stop loss and RSI resets.
Example: as soon as RSI is overbought and the indicator/strategy sells → do not enter another sell and/or buy position while there is an active trade and until that trade has hit either TP or SL.
Example 2: By the start of the desired trading time RSI has just closed as overbought and the strategy enters a sell position, if the stop loss has been hit and RSI is still in an overbought condition without 'resetting', do not enter another sell position until price has returned below the RSI overbought level and then closed above.
I would like the layout in the settings for the strategy to be as follows:
Session: (Example: 05:00 - 17:00)
RSI Period: (Example: 10)
RSI OB: (Example: 65)
RSI OS: (Example: 25)
ATR Period: (Example: 10)
ATR TP Multiplier: (Example: 2)
ATR SL Multiplier: (Example: 2)
% Equity Risk: (Example: 2)
Important feature: the RSI must ‘reset’ before entering another trade. The RSI must return below the desired overbought level and above the desired oversold level before a new position is opened. Example: If there is an active trade open and as price hits take profit or stop loss and it is has just been overbought/oversold on the same candle, then a new position can be opened as we would be out of the active trade anyway. I hope this makes sense and if you have any questions, please ask and if you are interested in this project, I will provide further details and images if necessary. Thank you for taking the time to read and consider my order.