VRSI-MARSI Strategy 2

I wanted to create an indicator which resembles price movement, aside to volume movement.
The "yellow-blue" line is the MA(5) of the RSI (9) of closing price.
The "orange" line is the MA(5) of the RSI (9) of Volume .

(Default plot of RSI and VRSI is not visible but can be made visible ("Settings" > "Style" > set "Opacity" of "RSI & VRSI"))

In this strategy the Long/Short condition is triggered when "MA RSI (close) - MA RSI ( Volume )" crosses.

See X:

(Instead of my "VRSI-MARSI Strategy" where the Long (Buy) condition is triggered when the MA(5) of the RSI (9, close)
goes up and the Short (Sell) condition is triggered when the MA(5) of the RSI (9, close) goes down.)

Comparing the price movement with the "orange" Volume line helps to spot a possible trend change,
for example when price goes up and an ascending Volume line starts to flatten or starts descending,
this could be a sign that the Bullish trend is weakening, predicting a possible trend change.
Or, when for example a downwards price movement is accompanied with a rising Volume line, this can be a sign of large Bearish power.

Because it still is a RSI indicator, the midline (50), and Oversold/Overbought area's (20-30 & 70-80) are important to watch, especially the MARSI!


The Long & Short entries, as well as the Entry Close are visible 1 bar after the trigger.

This is because the condition is fulfilled (see yellow dashed lines =(1)) when the candle closes (2), so the condition doesn't set in the same bar,
but the next and because this is a strategy, the "Order" will not take place at the "Close" of the candle (2), but at the "Open" of the NEXT candle (3).

I also have this strategy as a study (A+B), where the "Buy" & "Sell" shows a candle earlier.


The entries are default 5% of equity, without pyramiding, which already gives large profits.

A large part of the profit is because of the Entry Close of the Long & Short entries.
You can easily turn these off (Settings > Inputs > Xlong/Xshort) to see what profit the strategy gives without Entry Close.

Then you have this:

You even can turn the "Signal labels" and "Quantity" off (Settings > Style):


More information available in the script ;-)
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