OPEN-SOURCE SCRIPT
Simple and efficient swing RSI system
Hello there,
I am glad to bring you another simple and efficient algorithm.
Its made purely from RSI which can be used directly or inversed. Its suited for swing trading 15 min chart or more minimum.
Can be adapted to all types of financial markets.
Rules for entry are easy : First we have the stop loss and take profits levels. Based on SL , we have the risk % of our equity, where the minimum lot we can trade its setted on 0.1 lots , can be modified tho.
For entries, we have the overbought and oversold levels.
Whenever we cross one of them we enter the trade . We close the trade whenever we reach sl/tp or inverse crosses.
Although its has a low win rate, its a very good system to catch big trends, so there you can recover all the small losses that you had in a untrend market .
Aswell it requires a lot of patience, since a position can be kept for weeks, even months.
Hope you enjoyed it .
I am glad to bring you another simple and efficient algorithm.
Its made purely from RSI which can be used directly or inversed. Its suited for swing trading 15 min chart or more minimum.
Can be adapted to all types of financial markets.
Rules for entry are easy : First we have the stop loss and take profits levels. Based on SL , we have the risk % of our equity, where the minimum lot we can trade its setted on 0.1 lots , can be modified tho.
For entries, we have the overbought and oversold levels.
Whenever we cross one of them we enter the trade . We close the trade whenever we reach sl/tp or inverse crosses.
Although its has a low win rate, its a very good system to catch big trends, so there you can recover all the small losses that you had in a untrend market .
Aswell it requires a lot of patience, since a position can be kept for weeks, even months.
Hope you enjoyed it .
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.