The slope_is_dope2 strategy aims to generate buy and sell signals based on several indicators and conditions. Here's a breakdown of its components:
Indicator Calculation:
RSI (Relative Strength Index): Calculated using a time period of 7. marketMA: Simple Moving Average with a time period of 200.
fastMA: Simple Moving Average with a time period of 21.
slowMA: Simple Moving Average with a time period of 50.
entryMA: Simple Moving Average with a time period of 3. Additional Calculations:
'sy1' and 'sy2' are calculated by shifting the 'slowMA' values by +11 and +1, respectively. 'sx1' and 'sx2' are assigned values of 1 and 11, respectively. 'sy' is the difference between 'sy2' and 'sy1'. 'sx' is the difference between 'sx2' and 'sx1'. 'slow_slope' is the ratio of 'sy' to 'sx'. 'fy1' and 'fy2' are calculated by shifting the 'fastMA' values by +11 and +1, respectively. 'fx1' and 'fx2' are assigned values of 1 and 11, respectively. 'fy' is the difference between 'fy2' and 'fy1'. 'fx' is the difference between 'fx2' and 'fx1'. 'fast_slope' is the ratio of 'fy' to 'fx'. 'last_lowest' is the rolling minimum of 'low' values with a window size of 10, shifted by 1. Plot Configuration:
The main plot displays the 'fastMA' in red and 'slowMA' in blue. Subplots include the 'rsi' in blue and the 'fast_slope' in red, as well as the 'slow_slope' in blue. Buy Signal Criteria:
A buy signal is generated when the following conditions are met:
The current close price is greater than the 'marketMA'. The 'fast_slope' is greater than 0. The 'slow_slope' is greater than 0. The current close price is greater than the close price shifted by +11. The 'rsi' is greater than 55. The 'fastMA' is greater than the 'slowMA'. Sell Signal Criteria:
A sell signal is generated when either of the following conditions is met:
The 'fastMA' is less than the 'slowMA'. The current close price is less than the 'last_lowest'. The strategy aims to capture potential buying opportunities when the market conditions align with the specified criteria and generate selling signals when specific conditions for selling are met.