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a stated for pig bits go to livestream today I don’t know how many people are actually gonna be watching this it’s been a while since I’ve done a livestream mostly because I’ve been super busy finally got a day off for my day job so I can do some of this stuff basically what we’re gonna do in this live streams we’re gonna take a look at some of the stuff we’ve been working on without going into a whole lot of detail like we typically do with you know the the pre-recorded videos that are the tutorials and stuff like that I’m just gonna talk about a few things have any questions please type in the chat I’ll try to pay attention that that’s hard for me to keep up with because it’s on another screen off to the side here but I will try to keep up with what’s going on here but anyway I did want to share the most recent indicator published and this was just a few minutes ago 23 minutes ago now this is RSI call-outs this is something that somebody requested and one of the YouTube comments recently I thought it was a pretty good idea so I decided to run with it and essentially what it’s doing is it’s the RSI indicator it’s all it is there’s an RSI indicator but instead of overlaying it not overlaying it on your chart and taking up all that space the bottom of the screen it’s only gonna do these call-outs when you reach a certain threshold when things are oversold or overbought so you know things were overbought here and your RSI was at an 83 so it gives you a good idea what your RSI is that when you’re looking at a particular candle without having to have that RSI indicator at the bottom of the screen evident track that all the way through its history but let’s see yeah so that one’s open source you can find that on my profile and I just search for big bits IO pretty simple already gonna like gonna that’s nice but let’s take a look here I didn’t want to tell you with this one you can set your custom RSI information sinks at the period and the source for the RSI calculation itself but you can also adjust the oversold level so we’ll come up with that so we can actually get some of these that show up on the screen here BAM there we go this is a one-minute chart so there’s not a lot going oversold unless there’s some pretty big moose pretty quickly but you know you’re looking at seventy one seventy seventy and one of the things that I did was when I created the indicator I actually added in the feature to hide the labels if they’d also occurred within the previous three candles so you’ll notice here there’s a lot back to fourth mech one after the other but essentially what this does is say this RSI here is 71 if the previous one was also above the overbought value it would have hidden the label here and it’ll go back three more candles to hide those labels that way you don’t have a lot of overlap like you kind of see here I could make it more but then you might kind of miss some divergences so like you can see here this is probably an RSI divergence so you can see there’s a peak 70 for RSI slower at 70 but the price is higher so that’s a divergence on the RSI and you’ll notice quickly on that bearish divergence that the price dropped right after that so that is another thing that you can look out here for let me actually change this back to 75 and 25 not a whole lot at 75 and 25 but let’s go back out to the 5-minute and let’s take a look at this divergence indicator which is pretty interesting so yeah this is one of the publicly available scripts that are out there this isn’t mine let’s see who did this one lonesome the blue this is a pretty popular script out on trading view that helps detect divergences now you’ll notice there’s a lot of really good lines here that you would like to trade the bottom of here and buy there or you know with the red line here you would like to have sold there and you know maybe take profit pretty quickly but what you’ll notice is here the divergence can actually start as soon as the price is lower than the close price on this candle as long as the the other indicators that it’s using their values are also within the divergence range so if you’re looking for a bullish divergence you’re looking for the price to be lower which in that line it is but you’re also looking for the other indicators their values to be higher so this takes a look at all that for you I’ve only got the MACD RS on stochastic because those are the ones I personally trust the most with this and I’ve got it set to a large timeframe but you can actually I think these are the default and you can look for more of those this is definitely more of an intraday scalping thing if you’re looking at such small ranges on those so I just take a look at 75 for myself because it usually is the larger larger periods it’s usually a better example of a significant pivot point so that’s something to keep in mind but one of the things you also need to keep in mind is since it’ll catch the divergence all the way down it’s gonna keep repainting this line so that line wasn’t only put on here once it actually started probably from here to here and then on the next candle you know it was also at here I lost my line tool here to there you can see it would keep repainting that lower and lower so what I’m actually gonna do in this video is I’m going to kind of combine our RS I call out with this divergence indicator since it’s open-source and what I’m going to do is I’m going to require that’s on these bullish divergences that our RSI be below a certain number but also that we have met a certain percentage price change before it’ll print a divergence because when you’re using these as a trading indicator and you want to try and buy at the bottom here on this divergence if it’s painting it up here that’s probably not gonna be too good for you you might have your stop-loss hit so we’re gonna add some parameters on here make sure that the RSI is below a certain number and also make sure that we have a target percentage drop in price for our divergence so we don’t really necessarily want to focus on divergences that are mostly flat like that we like these divergences that are big like that like the one it printed here yeah so basically the more drop in price and the lower the RSI while it’s still a divergence probably a good sign that it’s gonna bounce so we’re gonna take that coat and get started now if you have any questions definitely leave a question in the chat I’m trying to look over there every once in a while I don’t know very many people are watching but if you are having to watch just be patient if you have a question mainly this is done for something we can look back on later and get an idea of how we’ve done this and I’ll probably do a video specifically to explain what we’re doing here and I don’t actually know if that copies the source cover oh yeah make a copy how about that so RSI divergence virgin divergences with RSI and target price change okay save it as this excellent alright now you can see we can work with the code by the way the giveaway ended the other day I’ve actually gotten in contact with the person who won I’m about to be sending them their $25.00 in Bitcoin later today I just gotta get around to actually doing that but they have claimed it and we were gonna start a new giveaway it’s probably today I’m gonna create the contest or in the giveaway and a sweepstakes whatever they call it and it’s gonna run until April first and that’s also gonna be a $25 giveaway so definitely make sure you’re keeping in touch or keeping up with the channel that way you can keep up with some of the giveaway stuff I put in there some questions about some of the stuff we’ve been talking about and I might even have a question from this particular video so that people can actually watch the video and find the answer but it also kind of rewards the people who are actually watching the videos if they do that one but there’s gonna be plenty of stuff you can do that you don’t actually have to do that so I’m not going to go into a lot of details on the actual code for this there’s a lot going on there’s tons of different indicators in here but the main thing we want to focus on is our RSI it’s pretty simple that that is there and then we also want to convert this to a strategy and then save this actually kind of want to rename it now as soon as it’s done whenever I make a strategy from now on I kind of like to use strategy at the end of it that way people will know training view has a little indicator or little icon at the end of strategies when you search for them that lets you know it’s a strategy but I want to make it pretty clear what we’re working with here so let me go back look on my other screen I’m going to copy some code from another project I’m working on here give me just a moment you you see we’re just copying some parameters over for the strategy excellent so since this is a strategy we are going to define a few other things that pyramiding is basically how many different orders you can have open at once default quantity type we’re gonna use our percentage of our equity we’re gonna have our default quantity be 100% of our equity that we’re using to trade with we’re using a commission these help you calculate fees into the review or the performance summary I should say the trades so you can see what’s going on we’re gonna use a point 1 percent which is by Nantz fees and we’re not gonna have any slippage although you’re probably gonna have slippage especially if you’re using market orders here now let’s go back got this we don’t actually have any entries in here so there’s a couple other things I want to copy over that I use got some inputs and yes several inputs we’re going to copy over here I have some profit input so we’re gonna have a take profit and a stop loss and I want to set these a little bit higher because we’re going to work with 5-minute candles let’s set this at three and said that’s at three as well and if you’re not familiar the step here so the amount it increases or decreases every time you click the little up or down arrows so we’ll go from three to two point seven five two point five if we’re going down at the by below target this was something we’ve used on something else by below we’ll also do a cell above so we’re going to copy this and the by below is going to be used for our bullish divergences and the cell above is going to be for the bearish divergences so let’s take a look here and what we can do by the low target percentage let’s set this to let’s just say one percent and we’ll obviously have to change these a little bit’s I’m going to set the step 2.1 by below you by below first divergence point by percentage so this is going to mean here we’re looking at our first the Virgin’s point and we’re gonna require that it drops more than 1% by default before it will even attempt to make a purchase and we’re also gonna have to have another input here in just a minute for the RSI so not only are we gonna want it to drop more than one or however many percent but we’re also gonna want the RSI to be below a certain number as well sometime I can tell you that on let me fix my other screen back here your sloped I can’t keep up with what’s going on all right we got her Bible oh and I wish there was a search and replace on here that worked well I don’t like using the built-in Chrome search stuff you you so we’re just going back here and changing some of the stuff in here to make sure it’s clear what we’re actually working with you and this would be above I guess the price would be moving up excellent source of cell so for example the source I just want to make sure this is clear we talked about how the price had to change by a certain percentage when we’re talking about the source we could use the high we would want the high of this one the percentage change from the high of this to where it detects a divergence on that high that would help you catch these these wicks sorry I don’t know why I couldn’t think of it but it should work either way with a closed price but when you’re comparing the two even with the close price it’ll catch it but you’ll start your comparison here versus down here with the close price so you would start your comparison comparison here if a close and go up one percent which might be at the the line here but if you start at the high and you go up one percent it’ll have to catch it up here on the divergence so that’s just an example of what we’re looking and looking with here with the target source on these particular things I’ve got our take profits we’ve got our buy below input setup we also need let’s do our RSI requirements as well here by below RSI this is going to be pretty much the same thing STIs and wispy Bible oh we’re gonna require Aras the RSI low-percentage there okay so require the RSI about below value to buy okay that’s a little confusing so require RSI value too you okay we’ll just call that the minimum RSI value device I’ll require a minimum RSI value to buy this way when the price is going to go down we’re gonna require that the RSI be below 20 let’s say to start with alright that’s simple enough and we’ll just copy and paste this actually we’re going to set the step to 1 because we’re not usually doing a whole lot of points in between on the RSI so we’ll go ahead and change this to sell karma some values okay so this is gonna be worded the same way might be a little bit confusing because they both say minimum but they’re on opposite sides of the spectrum for the RSI so well let’s see how that goes but I think we’ve got everything we need to actually start with making our entries on our strategy and then also creating our exits with our take profit and stop-loss so I’m going to go back over to my other screen I’m going to pull up that code that I actually need for that stuff so give me just a moment excellent here it is and since we have our input set there and we’re defining some values in here at calculating those we’re actually going to calculate our profit target and our loss target based on the percentage that we put in so the current price take a percentage of that and divide it by the minimum ticket though that gives you your target price it’s a pretty simple little calculation here that helps you find out where your profit target is so that when you put your positions in you’ll already have your exit setup with your take profit and stop-loss and speaking of the entries on the positions this is only going to go long for now we’ll also have to look at how we’re going to short that as well in the future we’ll probably just use is a cell just to catch anything else but for now we’re just going to focus on the bullish divergences and we might go back later and take a look at how to short this but we’re almost there honestly you go back up here and get the name of a couple of these so we want to buy below RSI all right so I already mentioned we want our RSI to be below a certain number here and the indicator that we’ve taken this from already has a value set up to tell you if you’re in a positive divergence so we’re going to copy this and I hope they don’t have their wording backwards on that by saying a positive divergence is the green lines instead of where the price goes up but I think we’ll be fine and we also have to calculate our by below and our sell above prices those will be targets as well we’re gonna have to go back and actually get this information so yeah this one will be a little bit trickier than the other things we’ve done but shouldn’t be too much of an issue we’re actually going to use an if statement here because we’re only going to do this if we have a positive divergence so if we have a positive divergence these we have to get the spacing exactly right on these and we will name this the by below target price and this will be the cell above target price and I have to go back through this code and we have to find the the starting points of the divergence and we’re gonna have to base our price off of that instead of the current close which was what we would use for setting up a take profit and a stop loss so we’re gonna have to go back up here amen thanks thanks for the compliment there yeah we’re doing a lot of good stuff here if there’s anything you want to see just let me know that all right so let’s go back up here positive divergence where is it so when we plot the line it will be the low of Bott C I believe is the correct value that we’re going to use here so the low of bots I don’t know why I put it there but I that I hold the control key down to copy and paste some stuff and sometimes it does that so we’re gonna have to use the high of the top channel on that one I believe yep so with the cell above we’ll have to use that up here and then we’ll also want to change the stop loss and take profit stuff to actually use our buy below targets and our sell above target inputs that we use for the percentage amount I don’t think I had percent in the word the button double-check that oh yeah I did actually you excellent okay and that’s all there is so now we’re also going to need to check that our by below target source which is either the close or the high or low or whatever you specified for this particular candle it also has to be below the target see I’ve been talking myself into a circle hey the by below target price so actually I messed that up that needs to be the source set it correctly but I just got confused okay so our target source which would be if we selected the close so our current close would have to be below the by below target price so if we targeted you know a drop that would have been here we would have have to have the current closed be below that and also the RSI be below a certain number as well so I think that’s got that covered I’m gonna get rid of this and let’s just say we’re gonna sell if there is a negative divergence for now let’s see let’s change some names around here and before we sell this or setup the strategy to actually work we’ll have everything named hopefully correctly okay so if we have a by we’re going to enter it’s going to be called divergent strategy and if we we set up our exit to take profit based on the profit target and loss target that we set and then also if we somehow didn’t reach our take profit or our stop loss we’re just gonna sell if we get a negative divergence here so let’s actually try this out and see how it goes oh yeah it figures we would have had some errors here all right cell above target percent undeclared identifier did I really not name those I didn’t change them to above here that was a mistake and this is why I usually do all of my code before I make a video so that we don’t have to run into this when we’re actually doing the tutorials and stuff so RSI okay so they use lowercase in this indicator see what else we got wrong by below target price we’re just 233 I love target alright so okay let’s actually declare these variables first set them and then we’ll set them again within that believe that should take care of that issue then to set them a second time you have to do the : equals processing a think it worked that time see if there’s any entry No you oh yeah gotta add it to chart obviously all right so even with the five bars it looks really good three percent on such short bars here to work with let’s actually change this to what I’ve been looking at here just seventy five seventy five that’s not too good let’s remove some of these other indicators I don’t really care for all right so take profits by below first virgins points well I probably do some troubleshooting is that seems like it should have been working better than that that’s actually working though so that’s good Bible of source clothes minimum RSI that could be an issue because sometimes it doesn’t get super low yeah cell above I think part of the issue might be to take profit and stop-loss as well we’re looking at 5-minute candles three percent might be quite a bit on those sill above the first diversion points since we’re only using this as a kind of a take profit right now just leave it at zero and minimum RSI value to sell to that okay I got that let’s try adjusting our take profit as well here yeah like 3% was just too much keeps going down so what’s optimal might be let’s say 2% but that that’s pretty fine line between six point seven one and point four seven I would be fine with 3.88 now let’s just a stoploss and see if this helps any oh yeah stop-loss was terrible okay so it started to go back down back up again that time okay yeah so it’s a little inconsistent there move it back up here six point five eight percent I’ll take that yeah that’s pretty good let’s take a look at our trades now that it made that’s nice this goes back to February 2nd so let’s see how many traits did we get total 10 trades in about a month that’s pretty good considering you’re pretty confident on these I would say there’s still some work to do on the shorting side of things to try and get that figured out but we have an idea here of what’s going on alright let’s take this out at some higher time frames and see if we can’t get a little bit better stuff going on I’m actually going to take a quick break I have a phone call and make sure it’s not something important you there and back here alright let’s take this out a little bit further things probably should be a little bit more reliable when you get these larger time frames you can see the entry here on that position because this indicator will repaint the divergence occurred here but because it repaints you see the line going all the way down to here so we can play around with this one as well it’s on 15-minute candles laughs everything fun is down here so I required this I think something might be off on that because it doesn’t seem quite right that’s really weird I think something’s wrong with our Bible oh and our cell above most likely but we’ll go back and take a look at pants if I can get it to zero that makes yeah so that definitely is not right okay let’s actually just go in here because that might have really messed things up with the other one so typically what I do on this is I plot these things I actually set these two na that way we don’t have to plot a bunch of usual stuff the plot are by below target price and by our cell above hard to price actually I don’t want to plot that one because we’re not really too worried about selling above right now you any change the defaults so that I don’t have to do that every time it’s also change these defaults because I don’t want all of these other Decatur’s and as bad family at sea and it should look like what we had it before it takes a while to render okay so yeah our by below target this is at 1% that’s not doing right so we actually have to subtract it I believe from what we’re looking at so that was definitely not working correctly you you for 74 you bitch yeah so that was correct their code I’ve done this before quite a bit I just usually don’t bother remembering this stuff not much of a point to it price change or your wedding the caterer I did do that with you dear you okay so we’re actually going to change this up a little bit see if it works right now to take the low of that one then I want to subtract it’s different so I take percentage difference here but see times our percentage are by below target percent times point zero one believe I should take care of it and on this one course we would want to add a percentage of these if we ever get around to actually do you yeah there you go I think see it’s plotting the wine a lot better it was up here and now it’s down here so we would probably want to require a much larger drop on these 15-minute candles but it looks like it’s working correctly now let’s take a look at the strategy tester not too good but I think if we change our percentage drop that will help a lot and let’s also set this up to six six that might help once we change this set that 3% Oh you you doing that great that’s a huge percentage drop to check for to require the minimum RS I’d hire CitiField catch seems like it definitely would have been better on those five minute candles like we had it just try reducing the take profit back even more yeah so the the swings on the divergences aren’t big enough that’s why it’s not catching profit yeah and oftentimes it’s dropping more that’s precisely why it isn’t catching profit because the bounces aren’t the percentage profit that we would really ideally be looking for here you but you can still get it to be profitable there’s just not that great you and you can play around with it that’s not too bad let’s go back into the five minutes here we obviously need to change the percentage so down the line see how that does that’s not too bad you see we had one point five in 1.75 before 1% drop our si needs to be below well let’s not be a lot of these No so I might have been better off just to use the actual divergences that are actually built in but down I’m gonna play around with this a little bit more but the good thing about this is we can actually take a look and see what divergence periods work best and you can try and scalp some with it I mean one and a half percent if you’re scalping is a lot when you’re looking at point one percent fees so all you really have to do is make anything over 0.3% or 0.2 percent anything over point two just like one two one would be enough to cover your fees but you also need take profit to be high enough to actually make you enough profit to overcome your losses that you’re going to take so let’s go in and play around this a little bit more on skill with what they had is the default now manage tons of them or mid summary and a lot though goes back to the 15th changed this we don’t need much of a drop on 5-minute candles you okay then make much of a difference at that point you nice catching some better ones here at 1.5 1.6 percent over 1.7 take profits slower our stop loss here 175 you – so it looks like we might need a better exit to catch some profit other than waiting for a negative divergence or a profit off to be called so I’m actually gonna go in here and on the is a cell we’re gonna have for the RSI being greater than 60 I did this with my RSI strategy video worked out pretty good because if you’re trading trying to catch the bottom you’re probably not expecting a huge run-up after that I’m gonna change all those other settings back but it put that one on the 75 75 on the five-minute panels back in profit so let’s play around with them on the shorter scalps here pretty much the same thing see we set our take profit and stop-loss when I had it I think is 0.75 you right pretty good believe it at to change our tech profit you okay I’ll just leave that at 3% it’s not bad and we adjusted the by below percentage as well earlier see if that helps any kept it at 1.7 last time see if we can raise the RSI because if we’ve already dropped that much my workout yeah it didn’t matter too much even going lower so it’s not terrible 3.7% failed trades I’ll definitely take that it’s just not doing enough I think part of it is the percentage drop we have is pretty large that’s why it’s not catching so much so we’ll raise that up a bit and also change these let’s go with 30 on both of these it’s the big change definitely want to change that wrong direction you now let’s trading a lot more for sure let’s go find some better settings here if they don’t wanna take profit three we go you that’s the thing you got to give it plenty of room and stop-loss so let’s move that down you or yeah there’s a lot of play around with here so let’s try something other than mid coin something’s a little bit more volatile strikes are P versus Bitcoin so let’s get a lot more going on let’s go back to our fives and that doesn’t really help too much yeah at least having 1% looks good it’s five below the low though that helps yeah that helps increase that yeah too much back in one this is pretty much what I do once I make these I just play around try and find some good settings see I might publish this later I like having that come up see our RS on let me play around our stop losses it’s like it all alone well okay I bet there’s only one trade because nothing’s really changing yes that this is only one trade three a bad though you there’s a lot going on here but one of those things that’s really good to do when you’re monitoring it’s a little bit easier to get a feel for this stuff when it’s actually happening so once it starts printing these divergences usually I can get a pretty good tail for when it’s going to bounce again and a lot of times i zoom out on the chart to see where we’re at on other timeframes to make sure that you know the hourly charts doesn’t look like it’s about to crash when you’re buying on a 5-minute chart you don’t say so just changing some that stuff got it there you so bad you hard to believe that didn’t affect the profit it must be because they all would have reached their a profit and given point anyway Norris I that did not help you okay I can see why this works mostly because of the increased volatility when you’re trading its Bitcoin you can get some really low RSI numbers better at eighteen but let’s see what we got now got three trades over the course of a month but you know they’re pretty pretty confident trades of course all right so we can specify some stuff on here to make this go back more but I’m pretty much gonna be done with a live stream for now if anyone has any questions leave a comment or something I’m going to be heading out for a little while got a couple errands to run here on my day off but other than that we’re good we’ve got some other videos coming out like I mentioned earlier there’s the giveaway I’m gonna be posting that Dave you know if you’re watching this live stream and somehow you haven’t seen my other videos please check them out we do this kind of stuff except I’m not live coding in those videos I usually complete this stuff and then explain it in the videos sometimes I’ll live code but a lot of times I’m just copying the completed code over and kind of showing you step-by-step how I put it together other than that let’s see I’ve mentioned the giveaway I’ve mentioned the other videos here you know just thank you all for watching today hopefully I can do these again sometime soon but I really appreciate everyone watching please leave a like if you can or subscribe to the channel if you haven’t already that stuff really helps but other than that thank you all I’m working on some other stuff here later this afternoon I’ve been starting to automate some things so if you want some updates please follow on Twitter and or check out the discord as well there’s a lot of stuff I’m working on I’m in-between these videos that is gonna help really automate and hopefully help everyone if we can get something if I can get something nailed down for the alerts it’s gonna be really good but thank you all everyone just have a nice day
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