Introduction As you know the Jurik RSX is a "noise free" smoothed version of RSI (Relative Strength Index), with no added lag. It was originally developed by Mark Jurik and is used the same way as RSI. To learn more about this indicator see http://www.jurikres.com/catalog1/ms_rsx.htm
The most basic and common strategy is to use the crossovers between Jurik RSX and its overbought/oversold levels as trade signals:
when RSX crosses above 30, go Long
when RSX crosses below 70, go Short
exit when a crossover occurs in the opposite direction
What is this tool? This tool is a performance scanner that uses a decision tree-based algorithm under the hood to find the most profitable settings for Jurik RSX. It analyzes the range of periods between 2 to 100 and backtests the Jurik RSX for each period (using the strategy mentioned above) across the entire history of an instrument. If the more profitable parameter was found, the indicator will switch its value to the found one immediately.
So, instead of manually selecting parameters just apply it to your chart and relax - the algorithm will do it for you, everywhere you want.
The algorithm can work in two modes: Basic and Early Switch. The Early Switch algorithm makes some assumptions and activates a set of optimizations to find a better setting DURING the trades, not after they were actually closed.
The difference is illustrated on the screenshot below
But two modes can show identical values depending on timeframe
Additionally you can set up a backtest window through indicator's settings (the optimizers which were published before will get this feature soon).
Alerts It has a special alert that notifies when a more profitable period was detected.
NOTE: It does not change what has already been plotted. NOTE 2: This is not a strategy, but an algorithmic optimizer.
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Optimization update
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Removed the end date for analysis
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Added OB/OS levels optimization (OB: from 60 to 70, OS: from 30 to 40)
Hey, my man! Still granting access? Please, Sir. Your code is probably my favourite on Tradingview. Everget, Lazybear and ucsgears. You guys are seriously the best. My strategy currently does better than this but I wanted to see if I could incorporate some of the rules to yet again increase its profitability. I would be willing to share (of course). Thank you for all of the good work!