RSI 50 X Scalping System

you can..or you can use it solely to enter trades as the system calls for

slow day for signals but had two..both winners..

bounce off of 15M resistance/supply liquidity grab followed by strong bearish volume and signal..



not great volume on the entry, but broke a nice level a caught momementum..



anyone finding success...hope you guys take advantage of the accuracy of this system

Do you enter directly or is this just a retrospective trade?
Thanks

Trades taken live during NY session. Then I retrospectively go back and highlight my entries.

I will post some live entries today, as I'm sick and not at work.

missed this setup a bit ago, but looks ready to cross soon again

we've been here before, a rejection from a level or a liquidity grab..however you see it..volume picks up and we scalp the momentum..just have to wait for 15M increment ..11:15to see if both cross

"just have to wait for 15M increment ..11:15to see if both cross" So you do wait for 15 min to close? I thought you enter on 1 min as 5/15 cross 50 without waiting for close of 15 min.

Hello Totomagic,

Thank you for sharing a very easy and systematic strategy.

I seem to have an issue when I am submitting the pinescript on tradingview the one for the screener, in addition what volume indicator do you use?

Also below is the script and the screenie of the error message.

9:22:08 PMError at 103:66 Syntax error at input 'end of line without line continuation

code
----
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// cbryce23

//@version=5
indicator(title="RSI MTF Dashboard", shorttitle = "RSI MTF Dashboard", overlay=true)

//========== Tickers
useT1 = input(true,"", inline = "1", group="Tickers")
t1 = input.symbol("CAPITALCOM:US500","", inline = "1", group="Tickers")
useT2 = input(true,"", inline = "2", group="Tickers")
t2 = input.symbol("CAPITALCOM:US30" , "", inline = "2", group="Tickers")
useT3 = input(true,"", inline = "3", group="Tickers")
t3 = input.symbol("CAPITALCOM:US100", "", inline = "3", group="Tickers")
useT4 = input(true,"", inline = "4", group="Tickers")
t4 = input.symbol("CAPITALCOM:UK100", "", inline = "4", group="Tickers")
useT5 = input(true,"", inline = "5", group="Tickers")
t5 = input.symbol("CAPITALCOME40" , "", inline = "5", group="Tickers")
useT6 = input(true,"", inline = "6", group="Tickers")
t6 = input.symbol("CAPITALCOM:EU50" , "", inline = "6", group="Tickers")
useT7 = input(true,"", inline = "7", group="Tickers")
t7 = input.symbol("CAPITALCOM:FR40" , "", inline = "7", group="Tickers")
useT8 = input(true,"", inline = "8", group="Tickers")
t8 = input.symbol("CAPITALCOM:SP35" , "", inline = "8", group="Tickers")

//========== Timeframes
TF1 = input.timeframe("15",title="TF1",group="Timeframes")
TF2 = input.timeframe("30",title="TF2",group="Timeframes")
TF3 = input.timeframe("60",title="TF3",group="Timeframes")
TF4 = input.timeframe("240",title="TF4",group="Timeframes")
TF5 = input.timeframe("D",title="TF5",group="Timeframes")

//========== RSI
rsiPeriod = input.int(title="RSI Period", defval=14, minval=2, maxval=365 , group='RSI' )
rsiBull = input.int(title="RSI Bullish", defval=65, minval=51, maxval=100, group='RSI')
rsiBear = input.int(title="RSI Bearish", defval=35, minval=0, maxval=50, group='RSI')
RSI = ta.rsi(close, rsiPeriod)

//========== Style Settings

dash_loc = input.session("Bottom Left","Dashboard Location" ,options=["Top Right","Bottom Right","Top Left","Bottom Left", "Middle Right","Bottom Center"] ,group='Style Settings')

text_size = input.session('Small',"Dashboard Size" ,options=["Tiny","Small","Normal","Large"] ,group='Style Settings')

cell_up = input(#4caf50,'Bullish Cell Color' ,group='Style Settings')
cell_dn = input(#FF5252,'Bearish Cell Color' ,group='Style Settings')
cell_neutral = input(color.gray,'Neutral Cell Color' ,group='Style Settings')
txt_col = input(color.silver,'Text/Frame Color' ,group='Style Settings')
cell_transp = input.int(25,'Cell Transparency' ,minval=0 ,maxval=100 ,group='Style Settings')

//========== RSI Values

//Ticker 1 RSI Values
t1rsi1 = request.security(t1,TF1,ta.rsi(close,rsiPeriod))
t1rsi2 = request.security(t1,TF2,ta.rsi(close,rsiPeriod))
t1rsi3 = request.security(t1,TF3,ta.rsi(close,rsiPeriod))
t1rsi4 = request.security(t1,TF4,ta.rsi(close,rsiPeriod))
t1rsi5 = request.security(t1,TF5,ta.rsi(close,rsiPeriod))
//Ticker 2 RSI Values
t2rsi1 = request.security(t2,TF1,ta.rsi(close,rsiPeriod))
t2rsi2 = request.security(t2,TF2,ta.rsi(close,rsiPeriod))
t2rsi3 = request.security(t2,TF3,ta.rsi(close,rsiPeriod))
t2rsi4 = request.security(t2,TF4,ta.rsi(close,rsiPeriod))
t2rsi5 = request.security(t2,TF5,ta.rsi(close,rsiPeriod))
//Ticker 3 RSI Values
t3rsi1 = request.security(t3,TF1,ta.rsi(close,rsiPeriod))
t3rsi2 = request.security(t3,TF2,ta.rsi(close,rsiPeriod))
t3rsi3 = request.security(t3,TF3,ta.rsi(close,rsiPeriod))
t3rsi4 = request.security(t3,TF4,ta.rsi(close,rsiPeriod))
t3rsi5 = request.security(t3,TF5,ta.rsi(close,rsiPeriod))
//Ticker 4 RSI Values
t4rsi1 = request.security(t4,TF1,ta.rsi(close,rsiPeriod))
t4rsi2 = request.security(t4,TF2,ta.rsi(close,rsiPeriod))
t4rsi3 = request.security(t4,TF3,ta.rsi(close,rsiPeriod))
t4rsi4 = request.security(t4,TF4,ta.rsi(close,rsiPeriod))
t4rsi5 = request.security(t4,TF5,ta.rsi(close,rsiPeriod))
//Ticker 5 RSI Values
t5rsi1 = request.security(t5,TF1,ta.rsi(close,rsiPeriod))
t5rsi2 = request.security(t5,TF2,ta.rsi(close,rsiPeriod))
t5rsi3 = request.security(t5,TF3,ta.rsi(close,rsiPeriod))
t5rsi4 = request.security(t5,TF4,ta.rsi(close,rsiPeriod))
t5rsi5 = request.security(t5,TF5,ta.rsi(close,rsiPeriod))
//Ticker 6 RSI Values
t6rsi1 = request.security(t6,TF1,ta.rsi(close,rsiPeriod))
t6rsi2 = request.security(t6,TF2,ta.rsi(close,rsiPeriod))
t6rsi3 = request.security(t6,TF3,ta.rsi(close,rsiPeriod))
t6rsi4 = request.security(t6,TF4,ta.rsi(close,rsiPeriod))
t6rsi5 = request.security(t6,TF5,ta.rsi(close,rsiPeriod))
//Ticker 7 RSI Values
t7rsi1 = request.security(t7,TF1,ta.rsi(close,rsiPeriod))
t7rsi2 = request.security(t7,TF2,ta.rsi(close,rsiPeriod))
t7rsi3 = request.security(t7,TF3,ta.rsi(close,rsiPeriod))
t7rsi4 = request.security(t7,TF4,ta.rsi(close,rsiPeriod))
t7rsi5 = request.security(t7,TF5,ta.rsi(close,rsiPeriod))
//Ticker 8 RSI Values
t8rsi1 = request.security(t8,TF1,ta.rsi(close,rsiPeriod))
t8rsi2 = request.security(t8,TF2,ta.rsi(close,rsiPeriod))
t8rsi3 = request.security(t8,TF3,ta.rsi(close,rsiPeriod))
t8rsi4 = request.security(t8,TF4,ta.rsi(close,rsiPeriod))
t8rsi5 = request.security(t8,TF5,ta.rsi(close,rsiPeriod))

/// -------------- Table Start -------------------

var table_position = dash_loc == 'Top Left' ? position.top_left :
dash_loc == 'Bottom Left' ? position.bottom_left :
dash_loc == 'Middle Right' ? position.middle_right :
dash_loc == 'Bottom Center' ? position.bottom_center :
dash_loc == 'Top Right' ? position.top_right : position.bottom_right :
var table_text_size = text_size == 'Tiny' ? size.tiny :
text_size == 'Small' ? size.small :
text_size == 'Normal' ? size.normal : size.large

var t = table.new(table_position,8,9,
frame_color=txt_col,
frame_width=1,
border_color=txt_col,
border_width=1)

if (barstate.islast)
//headings
table.cell(t,1,0, 'Symbol' ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,0, TF1 ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,3,0, TF2 ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,4,0, TF3 ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,5,0, TF4 ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,6,0, TF5 ,text_color=color.white,text_size=table_text_size,bgcolor=color.black)

// 1
if useT1
table.cell(t,1,1, str.replace_all(t1, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,1, str.tostring(t1rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t1rsi1 >= rsiBull ? cell_up : t1rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,1, str.tostring(t1rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t1rsi2 >= rsiBull ? cell_up : t1rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,1, str.tostring(t1rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t1rsi3 >= rsiBull ? cell_up : t1rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,1, str.tostring(t1rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t1rsi4 >= rsiBull ? cell_up : t1rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,1, str.tostring(t1rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t1rsi5 >= rsiBull ? cell_up : t1rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 2
if useT2
table.cell(t,1,2, str.replace_all(t2, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,2, str.tostring(t2rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t2rsi1 >= rsiBull ? cell_up : t2rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,2, str.tostring(t2rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t2rsi2 >= rsiBull ? cell_up : t2rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,2, str.tostring(t2rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t2rsi3 >= rsiBull ? cell_up : t2rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,2, str.tostring(t2rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t2rsi4 >= rsiBull ? cell_up : t2rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,2, str.tostring(t2rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t2rsi5 >= rsiBull ? cell_up : t2rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 3
if useT3
table.cell(t,1,3, str.replace_all(t3, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,3, str.tostring(t3rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t3rsi1 >= rsiBull ? cell_up : t3rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,3, str.tostring(t3rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t3rsi2 >= rsiBull ? cell_up : t3rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,3, str.tostring(t3rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t3rsi3 >= rsiBull ? cell_up : t3rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,3, str.tostring(t3rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t3rsi4 >= rsiBull ? cell_up : t3rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,3, str.tostring(t3rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t3rsi5 >= rsiBull ? cell_up : t3rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 4
if useT4
table.cell(t,1,4, str.replace_all(t4, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,4, str.tostring(t4rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t4rsi1 >= rsiBull ? cell_up : t4rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,4, str.tostring(t4rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t4rsi2 >= rsiBull ? cell_up : t4rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,4, str.tostring(t4rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t4rsi3 >= rsiBull ? cell_up : t4rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,4, str.tostring(t4rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t4rsi4 >= rsiBull ? cell_up : t4rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,4, str.tostring(t4rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t4rsi5 >= rsiBull ? cell_up : t4rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 5
if useT5
table.cell(t,1,5, str.replace_all(t5, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,5, str.tostring(t5rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t5rsi1 >= rsiBull ? cell_up : t5rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,5, str.tostring(t5rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t5rsi2 >= rsiBull ? cell_up : t5rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,5, str.tostring(t5rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t5rsi3 >= rsiBull ? cell_up : t5rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,5, str.tostring(t5rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t5rsi4 >= rsiBull ? cell_up : t5rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,5, str.tostring(t5rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t5rsi5 >= rsiBull ? cell_up : t5rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 6
if useT6
table.cell(t,1,6, str.replace_all(t6, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,6, str.tostring(t6rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t6rsi1 >= rsiBull ? cell_up : t6rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,6, str.tostring(t6rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t6rsi2 >= rsiBull ? cell_up : t6rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,6, str.tostring(t6rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t6rsi3 >= rsiBull ? cell_up : t6rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,6, str.tostring(t6rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t6rsi4 >= rsiBull ? cell_up : t6rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,6, str.tostring(t6rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t6rsi5 >= rsiBull ? cell_up : t6rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 7
if useT7
table.cell(t,1,7, str.replace_all(t7, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,7, str.tostring(t7rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t7rsi1 >= rsiBull ? cell_up : t7rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,7, str.tostring(t7rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t7rsi2 >= rsiBull ? cell_up : t7rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,7, str.tostring(t7rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t7rsi3 >= rsiBull ? cell_up : t7rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,7, str.tostring(t7rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t7rsi4 >= rsiBull ? cell_up : t7rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,7, str.tostring(t7rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t7rsi5 >= rsiBull ? cell_up : t7rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

// 8
if useT8
table.cell(t,1,8, str.replace_all(t8, syminfo.prefix + ":", ''),text_color=color.white,text_size=table_text_size,bgcolor=color.black)
table.cell(t,2,8, str.tostring(t8rsi1, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t8rsi1 >= rsiBull ? cell_up : t8rsi1 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,3,8, str.tostring(t8rsi2, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t8rsi2 >= rsiBull ? cell_up : t8rsi2 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,4,8, str.tostring(t8rsi3, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t8rsi3 >= rsiBull ? cell_up : t8rsi3 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,5,8, str.tostring(t8rsi4, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t8rsi4 >= rsiBull ? cell_up : t8rsi4 <= rsiBear ? cell_dn : cell_neutral,cell_transp))
table.cell(t,6,8, str.tostring(t8rsi5, '#.#'),text_color=txt_col,text_size=table_text_size, bgcolor=color.new(t8rsi5 >= rsiBull ? cell_up : t8rsi5 <= rsiBear ? cell_dn : cell_neutral,cell_transp))

why the MTF RSI indicator is not straight lines like yours. Do you have any customizations for that indicator?

other user detailed it exactly, if you enter in between 15M increments its more risky because the HTF (15M RSI) has not completely printed yet...so again..to avoid this we enter on increments of 15 minutes...

what are your settings, how can I tell by just looking at that pic?

So there is no need to see 1 min or 5 min charts? As soon as 15 min close, you enter if both 5/15 still above 50?

try and find the post where I show you how to get the indicator without using the code..just search fior it

correct, i use 1 minute charts to see everything else...market structure, volume, potential s/r, s/d, and take profit areas

the actual chart TF doesnt matter..look at my example...this is the same trade ...

one on 5M time frame



one on 1M time frame (myorginal system style)

the entire concept and logic of the system is based on the 5M RSI and 15M RSI crossing the 50 level on the same candle...anything other than that doesnt matter..

the time frame you view your charts boils down to this logic...is there a different time frame confluence that I want to take into consideration before I enter this trade? (ie market structure on m5 or m15, or maybe m1 is showing something..) THIS I CANT TELL YOU.

personally I just look at M1 charts because even though the entry is based on M5 and M15 strength and momentum, I want to take a scalping position from it, and need to see whats happening on the lower TF's to give myself the best and most profitable trade stup

Thank you for sharing this strategy.
This concept and logic seem working fine.
I will try to full backtesting and share here if you don't mind.

Hello,

Just took this setup, when it was trading live the opportunity was presented at the vertical line.

GBPNZD
Totomagic kindly let me know if its correct.


I assume that the pairs you trade are the same ones you shared in the screenshot of the dashboard settings, or there are other pairs that you trade?

please share, thank you

I do not see a setup on GBPNZD around that time