CM_RSI EMA Strategy AZT
Strategy Premise
RSI is one of the most popular technical indicators. The RSI measures the internal strength of security. The RSI indicator oscillates between oversold and overbought levels, where a trader is advised to look for buying opportunities when the stock is in the oversold region and selling opportunities when the stock is in the overbought region. The RSI with EMA strategy signals a trade when the EMA of 7 period RSI crosses over the EMA of a 14 period RSI
Strategy Logic
Long Entry: When RSI Cross Over EMA RSI, Send LE
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and SE
Short Entry: When RSI Cross Under EMA RSI, Send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and LX
RSI Strategy Parameters for TradingView Charts
Rsi Length(Mandatory): This is the number of bars used to calculated rsi Ex: 14 à previous 14 candles are used to calculate rsi
Oversold(Mandatory): This is used to specify oversold of RSI
Overbought(Mandatory): This is used to specify overbought of RSI
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.
RSI is one of the most popular technical indicators. The RSI measures the internal strength of security. The RSI indicator oscillates between oversold and overbought levels, where a trader is advised to look for buying opportunities when the stock is in the oversold region and selling opportunities when the stock is in the overbought region. The RSI with EMA strategy signals a trade when the EMA of 7 period RSI crosses over the EMA of a 14 period RSI
Strategy Logic
Long Entry: When RSI Cross Over EMA RSI, Send LE
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and SE
Short Entry: When RSI Cross Under EMA RSI, Send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and LX
RSI Strategy Parameters for TradingView Charts
Rsi Length(Mandatory): This is the number of bars used to calculated rsi Ex: 14 à previous 14 candles are used to calculate rsi
Oversold(Mandatory): This is used to specify oversold of RSI
Overbought(Mandatory): This is used to specify overbought of RSI
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.