[SirPoggy] Simple and Effective RSI Strategy

This is an RSI strategy. Obviously.

However, what makes it unique, and why I'm publishing it standalone is to be able to isolate the concepts outlined in the strategy.

There are several strategies that people use for the RSI , and one of my favorites is very different than one you have probably heard from every online RSI strategy source.

Most strategies say "Buy when oversold, and sell when overbought". This is technically playing the reversal of the RSI . There are two ways to approach it, one being usually significantly worse than the other.

V1 of this strategy is buying as the RSI crosses below 30, and selling when the RSI crosses above 70.

V2 (and the one that makes slightly more sense) is to buy when the RSI crosses up over 30, and selling when the RSI crosses down below 70.

However, I do not like either of these in most market conditions. The strategy I list as "Standard" and "Strict Standard" is the strategy I employ in my own trading.

That is Buying when the RSI crosses up over 70, and selling when the RSI crosses down below 30.

It sounds counterintuitive at first to buy when overbought and sell when oversold. But the reality is oversold and overbought conditions are usually nonsense. In fact, a stock or asset can remain in these states for a very long time. I actually agree with what other pro traders have said that the RSI crossing these zones shows strength of the trend, NOT that there is necessarily a reversal imminent.

In order to compliment the RSI , there is also a built-in ADX / DMI strategy (per my All-In-One strategy on my profile as well) and you will also find a Global Trend filter (200 EMA by default).

You can also use a pullback confirmation prior to a trade entering. I.E., you have the RSI signal, wait for a pullback to the pullback EMA , and then the strategy will enter a trade.

I hope you find this strategy interesting and useful for your own trading. I have been studying the RSI for several months now and coding with it now for about a month, and these are the things I have enjoyed learning about it and wished to share with you all!

~ Poggy
Informacje o Wersji: Quick bugfix
Informacje o Wersji: Fixed issue where ADX strategy didn't do anything when selecting "Use ADX Rate of Changes"
Informacje o Wersji:
  • Fixed incorrect crossover point on Reversal strategy (it didn't increase the win rate lul)
Informacje o Wersji:
  • Removed Avg of ATR and Percent option for Stop Loss (probably not useful to most)
  • Updated variables to prevent repeated ordering in forward testing
  • Other minor tweaks to RSI
  • Changed long and short condition parameters and methodology
Informacje o Wersji:
  • Quick alert fix
Informacje o Wersji:
  • Quality of life changes from my other scripts added in
  • Some minor bug fixes
  • Added options to ADX Strategy (DMI / ADX or combo)
  • Added volume flow by @LazyBear
Informacje o Wersji:
  • Removed non-free strategy features
Informacje o Wersji:
  • Account Closed
Skrypt open-source

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