OPEN-SOURCE SCRIPT
RSI Cross Under Strategy +15
This strategy uses the Relative Strength Index (RSI) to automate trading decisions. Key features include:
Buy signals: Triggered when RSI crosses below an oversold level (default 28.5).
Position sizing: Each trade is 6.6% of total equity.
Pyramiding: Allows up to 15 additional positions on repeated signals.
Profit-taking: Closes 50% of the position when price reaches a set target (default 900% gain).
Visualization: Plots buy/sell signals, RSI, entry price, and target price on the chart.
Flexibility: Adaptable to different initial capitals and risk preferences.
The strategy aims to capitalize on oversold market conditions, with built-in risk management through position sizing. Users can optimize performance by adjusting RSI parameters, profit targets, and pyramiding limits.
Buy signals: Triggered when RSI crosses below an oversold level (default 28.5).
Position sizing: Each trade is 6.6% of total equity.
Pyramiding: Allows up to 15 additional positions on repeated signals.
Profit-taking: Closes 50% of the position when price reaches a set target (default 900% gain).
Visualization: Plots buy/sell signals, RSI, entry price, and target price on the chart.
Flexibility: Adaptable to different initial capitals and risk preferences.
The strategy aims to capitalize on oversold market conditions, with built-in risk management through position sizing. Users can optimize performance by adjusting RSI parameters, profit targets, and pyramiding limits.
Script open-source
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Per aggiungerlo al grafico, mettilo tra i preferiti.
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