Fadior

Strategy RSI | Fadior

Simple strategy that buy and sell when RSI is under/above a given thresholds. Take profit is set to $3. Beware this strategy doesn't work with other assets.
Remove from Favorite Scripts Add to Favorite Scripts
//@version=2

strategy("Strategy RSI | Fadior", shorttitle="Strategy RSI", pyramiding=10, calc_on_order_fills=false, initial_capital=10000, default_qty_type=strategy.percent_of_equity, currency="USD", default_qty_value=100, overlay=false)
 
len = input(3, minval=1, title="RSI Length") 
threshLow = input(title="Treshold Low", type= integer,defval=35)
threshHigh = input(title="Treshold High", type= integer,defval=80)
rsiLength1 = input(title="RSI Smoothing 1", type= integer,defval=3)
rsiLength2 = input(title="RSI Smoothing 2", type= integer,defval=5)
SL = input(title="Stop loss %", type=float, defval=.026, step=.001)
TP = input(type=integer, defval=300)

// 3 40 70 2
// 14 40 70 2 16 0.05 50

src = close
  
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

plot(sma(rsi,rsiLength2), color=orange)
plot(sma(rsi,rsiLength1), color=green)

band1 = hline(threshHigh)
band0 = hline(threshLow)
fill(band1, band0, color=purple, transp=90)

strategy = input(type=bool, title="Long only ?", defval=true)
strategy.risk.allow_entry_in(strategy ? strategy.direction.long : strategy.direction.all)

longCondition = sma(rsi,rsiLength1) < threshLow and sma(rsi,rsiLength2) > sma(rsi,rsiLength2)[1] 

if (longCondition)
    strategy.entry("Long", strategy.long) //, qty=10)
    strategy.exit("Close Long", "Long", stop=src-close*SL, profit=TP)
    
shortCondition = sma(rsi,rsiLength1) > threshHigh and sma(rsi,rsiLength2) < sma(rsi,rsiLength2)[1]
if (shortCondition)
    strategy.entry("Short", strategy.short) //, qty=10)
    strategy.exit("Close Short", "Short") //, stop=src-close*SL, profit=TP)
Fadior
a year ago
Beware it is curve fitted !! :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out