Another basic strategy most people learn at the beginning of their trading carreer (like me) is the RSI strategy. This is an adaptation of the built-in RSI strategy for use in binary options. Who knows, maybe one day i will graduate to CFD trading, but my time for trading in general is limited at the moment and I am very much still at the beginning of this entire topic.
The rather specific values for the RSI bounds and length I saved have been developed for the EURUSD short term (5min.) interval, giving the highest amount of winning vs. loosing trades as of the publishing date of this script, which is the only important factor for binary options in my understanding. Use at your own risk.
Feel free to comment, give me pointers and/or recommendations.
@Damians, the profit calculations of tradingview don't matter here. what matters for binary options is only the amount of consecutive successful trades, particularly minimizing the losses in a row. the actual pip difference does not matter, therefore the profit calculation doesn't matter as it doesn't take into account any options of your binary broker.
play with the input variables to maximize the number of winning trades on both, long and short trades.
cla78
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Hi, why If I create the script, Metatrader Editor give me 7 errors?
mrxoxo
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@cla78, Pine Script is not meant for MT4...(mt4 uses MQL....) therefore you won't be able to copy this script into the metatrader editor buddy...
twoflower
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@cla78, i wrote this entirely for tradingview. never touched metatrader, sorry.
rocktheedge
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there is something hidden you didnt mention its outside or inside base signals because i already have both indicator in mql4 doesnt provide this kind of signals its just rsi 6 and with overboght and oversold line it give alot of signals on close price but this is script its giving just one signal and there nothing like here in this script to prevent them
Nysaba
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Pls could you tell me where I can see how many consecutive wins and losses the strategy have ?
MadMoto29
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HI! Thanks for sharing this. 🙂
I am curious, how can this be turned into an indicator that I can see in a CSV export? Eg for CALL/PUT, and win/loss status? I am wanting to export data to model money management strategies and see how profitable I would be using it (since TV can't do this for binary options), but there is no indication in the CSV of when to take trades or the outcome.
Thanks very much! All the best.
MadMoto29
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Also unfortunately TradingView doesn't yet allow for exporting of strategy results (eg List of Trades), as this would also solve my issue. But for now we have to use indicators when exporting. :)