Milvetti

RSI Multi Strategies With Overlay Signals

Hello everyone,

In this indicator, you will find 6 different entry and exit signals based on the RSI:

  1. Entry into overbought and oversold zones
  2. Exit from overbought and oversold zones
  3. Crossing the 50 level
  4. RSI cross RSI MA below or above the 50 level
  5. RSI cross RSI MA in the overbought or oversold zones
  6. RSI Divergence


With the signals identified, you can create your own strategy. (If you have any suggestions, please mention them in the comments).

Beyond these signals, you can set SL (Stop Loss) and TP (Take Profit) levels to better manage your positions.

SL Methods:

Percentage: The stop loss is determined by the percentage you specify.
ATR: The stop level is determined based on the Average True Range (ATR).
TP Methods:

Percentage: The take profit is determined by the percentage you specify.
RR (Risk Reward): The take profit level is determined based on the distance from the stop level.
You can mix and match these options as you like.


What makes the indicator unique and effective is its ability to display the RSI in the bottom chart and the signals, SL (Stop Loss), and TP (Take Profit) levels in the overlay chart simultaneously. This feature allows you to manage your trading quickly and easily without the need for using two separate indicators.


Let's try out a few strategies together.

My entry signal: RSI Entered OS (Oversold) Zone
My exit signal: RSI Entered OB (Overbought) Zone

I'm not using a stoploss for this strategy ("Fortune favors the brave").

Let's keep ourselves safe by adding a stop loss.
I'm adding an ATR-based stop loss.
I think it's better now.


If you have any questions or suggestions about the indicator, you can contact me.

Cheers


Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.

¿Quiere utilizar este script en un gráfico?