RSI + Supertrend + ATR TP/SL

USE ON 5-MIN OR 12-MIN CHART FOR OPTIMAL PERFORMANCE!!!

This Pine Script strategy combines the RSI, Supertrend, and ATR-based Take Profit/Stop Loss levels for trading. Here's a breakdown of how it works:

Inputs:
RSI Length: Period for the RSI calculation (default: 6).

RSI Overbought: Threshold above which the market is considered overbought (default: 80).

RSI Oversold: Threshold below which the market is considered oversold (default: 20).

ATR Period: The period for calculating the ATR (default: 10).

Factor: Multiplier for the ATR and Supertrend calculation (default: 3).

Calculations:
RSI: The relative strength index, used to identify overbought and oversold conditions.

ATR: The average true range, used to measure volatility and set stop loss/take profit levels.

Supertrend: A trend-following indicator using ATR to create upper and lower bands. If the price is above the Supertrend, it is a bullish trend, and if below, it’s a bearish trend.

Entry Conditions:
Long: If RSI is below the oversold level and the trend is bullish (price above the Supertrend).

Short: If RSI is above the overbought level and the trend is bearish (price below the Supertrend).

ATR-Based TP/SL:
Long SL: Set at a distance from the entry price using ATR.

Long TP: Set at a distance from the entry price using ATR.

Short SL: Set at a distance from the entry price using ATR.

Short TP: Set at a distance from the entry price using ATR.

Strategy Execution:
Long Entry: Executes a long trade if the long condition is met, with an ATR-based stop loss and take profit.

Short Entry: Executes a short trade if the short condition is met, with an ATR-based stop loss and take profit.

Plots:
Supertrend: Plots the Supertrend line on the chart.

Buy/Sell Signals: Plots triangles when long or short conditions are met.

TP/SL Lines: Plots the ATR-based take profit and stop loss lines when a position is open.

This strategy aims to capitalize on short-term price movements with defined risk/reward levels.