Note the default settings on this indicator are best for BTC /USDT. For other pairs it might take some fiddling with variables to get a useful result (if a useful result is obtainable with the selected pair)
Generally, select between the options ( / ) and (15min/1hour) and (1hour/4hours) - to find a strategy backtest result that is worth considering.
Only long positions are considered here (I tried shorts but could not get a credible backtest result with this approach).
This is an indicator which looks at and StochRSI on the 15min, 1hour and 4hour timeframe.
The user can select a 15min/1hour option ( / ) and then also a 1hour/4hour option ( / ).
So there is one selection from a lower (15min/1hour) timeframe and another selection from a longer (1hour/4hour) timeframe.
The general idea is to, consider buying when, the lower timeframe ( / ) is going upwards and also the longer timeframe ( / ) is going upwards.
A good backtest result would suggest that the confluence in / over the shorter and longer timeframes can estimate a good time to buy.
(Careful with a 1hour for the shorter timeframe variable as its possible to also select a 1hour for the longer timeframe variable.)
There are user set variables that can be set to avoid a buy signal, if either the lower or high timeframe variables are greater than.
For example, buying when a / is >65% might not be advisable as the / is most probably due for a downswing when above this value.
The strategy closes a position when either the shorter or longer timeframe variables no longer are going up.
There is also a take profit % which can be set to exit trades at a given %.
The default values on this indicator tool are for bitcoin , which shows a reasonable backtest result. - worth sharing on tradingview.
Please do get in touch for any additional information/suggestions.
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