RSI Buy & Sell Trading ScriptThis is my first attempt at a trading script using the RSI indicator for Buy & Sell signals (so please be nice but would appreciate any constructive comments).
Starting with $100 initial capital and using 10% per trade
You can select which month the backtesting starts
There is also a monthly table (sorry can’t remember who I got this from) that shows the total monthly profits, but you’ll need to turn it on by going into settings, Properties and in the Recalculate section tick the “On every tick” box
It should do the following:
Open Buy order if the RSI > 68 and the current Moving Average is greater than the previous Moving average
• TP1 = 50% of Order at 0.4%
• TP2 = 50% of order at 0.8%
• SL = 2% below entry
• Close Buy order if the RSI < 30
Open Sell order if the RSI < 28 and the current Moving Average is less than the previous Moving average
• TP1 = 50% of Order at 0.4%
• TP2 = 50% of order at 0.8%
• SL = 2% above entry
• Close Buy order if the RSI < 60
I would like to build on this if you have any ideas/ code that could help like the following:
• Move the SL to break even when it hits TP1
• Move the SL to TP1 when TP2 hits
• Moving take profit code so I can let the some of the trade stay in play (activate if it hits 1% profit and close trade if price retracts 0.5%)
Buscar en scripts para "rsi"
RSI + GDAX EMA ConfluencerHighly customizable RSI + GDAX EMA tool to help you quickly spot levels of confluence
- Displays current RSI levels as a plot
- Displays current 12 + 26 EMA as a plot
- 7 customizable time frames
- Each time frame marks RSI oversold, RSI overbought, 12 EMA, and 26 EMA as a line with label
- Each time frame RSI and EMA have options to toggle visibility and oversold/overbought only so you can choose exactly what you want to see
Planned for future release:
- Further customization for lines (color, size, direction, etc)
- Further customization for labels (location, offset, color, size, etc)
- Highlighting areas of confluence (if 2-3+ lines are within a certain % of each other)
RSI ScalingRSI Scaling Indicator
Objective - Use for entry action
Description - RSI Scaling is the introduction of price to scaling it into 1 Standard deviation. Since the price scaling in general has a wide distribution of data, we need to scaling the data to reduce fragmentation. After that, bring the price data that has been made standardization into the RSI Model.
Applications - The principle of RSI Scaling is to use it as an executed order
Recommendation - RSI Scaling should be used in conjunction with indicators used to filter trend. for example Supertrend
RSI Wave SignalsQuick Description: Smoothed RSI with optimized trailing moving average. Look for cross above or cross under signals for buy and sell orders respectively.
VIDYA moving average of RSI incorporated with "optimized trend tracker" system. Thanks to kivancozbilgic and anilozeksi for implementing this great idea on Tradingview. The indicator adds "1,000" to the RSI MA values for more natural and accurate percentage trailing.
Settings:
- Period MA is the moving average length of the blue line
- Trailing Percentage of MA adjusts the percentage (sort of) trailing level of the moving average.
- RSI Length adjusts the rsi length in calculation.
Trading Tips:
- System might be enhanced by taking signals only on "oversold" or "overbought" territories (i.e <~1020 or >~1080)
- Adjust position size of by 4 times of atr(length=14)
- Take 50% of position as profit when position reaches the 4*atr TP Level (breakeven)
- Let the rest ride.
- Best performing on short frequencies such as 1, 3, 5 mins.
RSI, EMA, SMA Trendtrading - Oil Daytrading 1HThe Unitrend trading System produces trading recommendations on a pure Trend basis.
It is a Score based system.
--- How to use the System --
Simply adjust your capital you want to risk per trade and your TP Factor.
The TP Factor is the multiple of your risked Capital, also known as Risk/Reward ratio.
Furthermore you can toggle between a always Buy mode, to see if the System is better then market.
Compounding mode helps you to get a better understanding of your maximum drawdown with a total equity based approach.
--- How are Signals produced? ---
A score of 2 or 3 is a BUY signal.
You can count the score by looking at the lines above 1, or by reading the color.
Green is 3, yellow 2, orange 1 and red is 0.
The score is calculated by 3 conditions.
Each applying condition yields one point for the score.
The score resets each bar.
The rules are:
RSI > 45: Well known indicator, usually looks for reversal points but seems to produce above average results when above 45.
EMA(RSI) > SMA(RSI): My approach to momentum detection for the RSI movement, I consider a faster growing RSI as a good thing.
EMA(close) > SMA(close): My approach to trend detection for the market movement. Common Wisdom would be a fast SMA > slow SMA which I found to be too slow for the modern market.
RSI-based strategy for MATIC on 3commas - uses a 15m chartI looked all over TradingView and could not find a script that specifically does this so I wrote one. It's not complicated but it works pretty well. Essentially the concept is that you specify two RSI values: a buying threshold and selling threshold. The indicator will make buys based on RSI crossing your buy threshold and sells based on it crossing your sell threshold.
You can change the actual RSI parameters though I have found it works best with the default settings I have listed. It is set for a 15m MATIC chart but you can use it with anything on any time period but you will need to modify the thresholds and check the backtester if you use it on anything other than a 15m MATIC chart.
There is also a date range selector so you can test it over a specific time period. I typically use the past 1-2 months to get a good feel for if the settings I have picked work well in current market conditions.
It also functions as a regular RSI indicator so if you use this you probably don't need to apply any other RSI indicators to your chart.
I have made the indicator usable so that you can test it out manually to verify that it works as expected and if you want access to the script itself (to enable automated trading on 3commas) please message me and we can work something out.
In the future I might add some extra settings to this like a smoothed EMA so you can make more discerning buys, it depends on how many people contact me for the full script.
RSI Multi TF strategy
The RSI is a very popular indicator that follows price activity.
It calculates an average of the positive net changes, and an average
of the negative net changes in the most recent bars, and it determines
the ratio between these averages. The result is expressed as a number
between 0 and 100. Commonly it is said that if the RSI has a low value,
for example, 30 or under, the symbol is oversold. And if the RSI has a
high value, 70 for example, the symbol is overbought.
Plots 3 RSI (Weekly, Daily, 4h) at the same time, regardless of the Chart Timeframe.
Highlights in green (or red) if all RSI is oversold (or overbought).
Can trigger custom oversold and overbought alerts when all 3 lines grey(4h), yellow(weekly), and red(daily) go in the oversold or overbought zone. The strongest the curves break the barrier the strongest the alert (vertical red and green bars) shows.
RSI CrayonsThis simple script colors candles based on the Relative Strength Index. RSI Values > 50 are solid colors, RSI values < 50 are pastels, with additional colors/fills/alerts for overheated and oversold (both user adjustable thresholds) conditions.
As an added bonus, RSI can be calculated by non-traditional methods (not using the running/smoothed moving average) using a variety of different moving averages, but you may have to adjust the time-frame for 'faster' moving averages. An option for plotting the moving average basis is also available.
Value Added:
This indicator can be used to chart RSI without adding an "oscillator frame" to your chart, since we don't normally care too much about RSI values between 30 and 70 under normal conditions.
RSI by WMA trendHello!
This oscillator is based on the RSI on the WMA trend.
How does it work?
The WMA indicator is a trend indicator, it conditionally smooths the price chart and allows you to visually assess the trend.
In contrast to the standard RSI, noise is removed here.
Buy when the price is near the bottom, sell when it is near the top (If it lingers for a long time at the upper or lower border, then it is possible that the growth and fall will continue)
Change the settings, select the time frame you need.
---- Settings:
1) RSI lenght - change the RSI length
2) Smoothing length-RSI smoothing
3) Back_series- change for WMA , how many series are back.
4.5) Borders
RSI OverBought/Sold Price PredictUsing the RSI formula, predict what price should be next to be oversold or overbought.
For using support and resistance, turn on "smoothing" option.
White Line = what price should be next to be RSI = 50.
Orange Line = what price should be next to be RSI = 70 or 30 (Default)
Yellow Line = what price should be next to be RSI = 80 or 20 (Default)
Green Line = what price should be next to be RSI = 90 or 10 (Default)
RSI medianA RSI implementation tailored for a specific use case.
Instead of using RSI with oversold and overbought values, I use it as a median value.
If the RSI is above 50, the trend is bullish.
If the RSI is below 50, the trend is bearish.
This indicator is customized to help you easily identify market strength/weakness based on which side of the median value the RSI is.
RSI Divergence (chiefwils0n)Greetings All,
This simple indicator is a stylistic modification of the original TradingView Divergence indicator. I've enhanced the following:
Styles
RSI will turn RED when overbought and CYAN when oversold. CYAN presents an LONG opportunity, while RED is where I look for SHORT entries.
Added background color to the the Oversold/Mid-Level and Overbought/Mid-Level. The idea is to go LONG when RSI is in the GREEN channel, and consider closing your position when RSI is the RED channel. Or, SHORT in the RED, and close your position in the GREEN.
Hidden Divergences are styled with muted colors. Maroon is Hidden Bearish and Dark Green is Hidden Bullish.
Regular Divergences have brighter labels with Red (Bearish) and Lime (Bullish). My logic is to bring attention to these divergences, since they are stronger than hidden divergences.
Alerts:
I also added the following alerts:
Bullish Divergence
Hidden Bullish Divergence
Bearish Divergence
Hidden Bearish Divergence
RSI Overbought
RSI Oversold'
The alerts really distinguish this script for me. I hope you enjoy.
Happy Trading!
RSI Trend CryptoDear community,
Today I want to present you one of my favorite and simple trading bots: The RSI Trend.
This bot is based on the RSI, which normally is used as a trend reversal indicator. However, here it’s used as a trend finding indicator, often with great success. This bot making long-only trades, which is quite successful in bull-markets like the one we’re currently in.
In case you want to use an emergency exit for your trade, toggle the Emergency Exit parameter. During bull-markets it’s better in the long term to keep this option off.
Currently the bot only makes one trade at a time (pyramiding = 1), for higher risk and higher rewards you can increase this parameter. More than 5 is not advised.
I’ve optimized this bot on 15min time frame. It has some decent results for most cryptos on this TF, feel free to test this out.
In case you want to hook this bot up to your exchange, feel free to edit the ALERT messages in the code.
Default Trading Rules:
Long: RSI crosses over 35
Close Long: RSI crosses under 75
Emergency Exit: RSI crosses under 10
RSI+PA+DCA StrategyDear Tradingview community,
This RSI based trading strategy is created as a training exercise. I am not a professional trader, but a committed hobbyist. This not a finished trading strategy meant for trading, but more a combination of different trading ideas I liked to explore deeper. The aim with this exercise was to gain more knowledge and understanding about price averaging and dollar cost averaging strategies. Aside that I wanted to learn how to program a pyramiding strategy, how to plot different order entry layers and how to open positions on a specific time interval.
In this script I adapted code from a couple of strategy examples by Coinrule . Who wrote simple and powerful examples of RSI based strategies and pyramiding strategies.
Also the HOWTO scripts shared by vitvlkv were very helpful for this exercise. In the script description you can find all the sources to the code.
A PA strategy could be a helpful addition to ease the 'stress-management to buy when price drops and resolution in selling when the price is rising' (Coinrule).
The idea behind the strategy is fairly simple and is based on an RSI strategy of buying low. A position is entered when the RSI and moving average conditions are met. The position is closed when it reaches a specified take profit percentage. As soon as the first the position is openend multiple PA (price average) layers are setup based on a specified percentage of price drop. When the price crosses the layer another position with somewhat the same amount of assets is entered. This causes the average cost price (the red plot line) to decrease. If the price drops more, another similar amount of assets is bought with another price average decrease as result. When the price starts rising again the different positions are separately closed when each reaches its specified take profit. The positions can be re-openend when the price drops again. And so on. When the price rises more and crosses over the average price and reached the specified take profit on top of it, it closes all the positions at once and cancels all orders. From that moment on it waits for another price dip before it opens a new position.
Another option is to activate a DCA function that opens a position based on a fixed specified amount. It enters a position at the start of every week and only when there are already other positions openend and if the current price is below the average price of the position. Like this buying on a time interval can help lowering the average price in case the market is down.
I read in some articles that price averaging is also called dollar cost averaging as the result is somewhat the same. Although DCA is really based on buying on fixed time intervals. These strategies are both considered long term investment strategies that can be profitable in the long run and are not suitable for short term investment schemes. The downturn is that the postion size increases when the general market trend is going down and that you have to patiently wait until the market start rising again.
Another notable aspect is that the logic in this strategy works the way it does because the entries are exited based on the FIFO (first in first out) close entry rule. This means that the first exit is applied to the first entry position that is openend. In other words that when the third entry reaches its take profit level and exits, it actually exits the first entry. If you take a close look in the 'List of Trades' of your Strategy Tester panel, you can see that some 'Long1' entries are closed by an 'Exit 3' and not by an 'Exit 1'. This means that your trade partly loses, but causes a decrease in average price that is later balanced out by lower or repeated entering and closing other positions. You can change this logic to a real sequential way of closing your entries, but this changes the averaging logic considerably. In case you want to test this you need to change, in this line in the strategy call 'close_entries_rule = "FIFO"', the word FIFO to ANY.
In the settings you can specify the percentage of portfolio to use for each trade to spread the risk and for each order a trading fee of 0.075% is calculated.
RSI Classic Strategy (by Coinrule)One of the questions hobbyist traders more often ask is: what is the perfect trading indicator?
Every indicator is just a tool, so its efficiency is proportional to your ability to read its signals and translate them into an actionable trading strategy. The RSI is likely the most flexible and easy to use among the technical indicators.
This trading strategy tries to catch short-term swings on the coins of your choice with a simple yet profitable setup.
Buy when the RSI is lower than 30 (you can adjust it to 35 in times of steep uptrend).
Sell when the RSI is greater than 65 (the target may range between 60 and 75 depending on the volatility of the coin).
Note that the buy signal comes when the indicator crosses below 30 and not when it crosses above 30 as it happens on the built-in RSI strategy on Tradingview.
The present script overperforms the built-in strategy, even adding trading fees and using a lower amount of capital for each trade (30%). That means that the system can deliver higher net-profits with lower risk levels.
A typical example of market conditions where this strategy works perfectly is as follows.
The first initial breakout indicates that a new leg up in the trend may start. Bitcoin starts to trade within a range which you can identify when it reaches the point 3. That is the perfect time to start the rule because
- trading within a channel anticipates possible swings up and down
- the trend is on the upside, providing low downside risk in buying the dips.
This strategy works well with selected coins of your choice, and it's a great fit on leverage exchanges like Binance Futures.
If you prefer to run it across all available coins on the market, instead, you may choose an optimized version.
RSI Divergence Indicator (colorcoded and smoothed)This indicator uses a custom RSI algorithm which displays a modified RSI and stochastic RSI as a simple to read and color coded oscillator.
When RSI turns green it signals a bullish divergence and considers the asset as overbought.
When it turns red it signals a bearish divergence and considers the asset oversold.
Overbought levels at 80 and oversold levels at 20.
Displaying the RSI this way removes the hassle to manually spot for divergences in the chart.
Only use this indicator in confluence with other indicators to confirm an upcoming trend.
This indicator features alarms when the indicator turns green or red.
RSI EMA SMA StratThis script looks at the RSI EMA and RSI SMA crossovers when above a certain price EMA
It was mainly written for swingtrading and only for long positions on a daily timeframe for BTC and ETH. They idea is to have a script that indicates when to convert your BTC /ETC to a stable coin and when to buy in again.
You could try to use it for other positions (short, long, etc..) and other coins but I didn't test these.
When the RSI EMA & SMA hover around 50 for a few days in flat lines and you get a buy signal it may be best to wait a few days longer to see what direction they take.
The default values for RSI EMA , RSI SMA and price EMA gave the best return (start out with an amount of x coins in 2015 and end up with the biggest possible amount of coins today). Again, this was only tested on daily. Feel free to tweak these when using other timeframes or other coins
RSI of VWAP [SHORT selling]This is SHORT selling version of RSIofVWAP strategy. Settings and Logic are totally different from LONG side version , hence I am publishing it as a new strategy.
Settings
============
VWAP of RSI Length 15
Slow EMA Length 200
Short entry level 25
Cover short level 70
stop loss 5
SHORT Entry
============
condition1 : When RSIofVWAP crossdown below 25 and VWAP is below ema200
condition2: When weekly RSIofVWAP crossdown 70 and VWAP (note : session vwap , not weekly vwap) is below ema200
condition3: Use VIX value , if you want to short when the price is above ema200
vwap RSI crossing down 70 and VIX RSI is cossing up 70
enter short ... This is like falling knife :-)
I need to add the code -- later
if any of above condition is TRUE , SHORT entry will be taken
Take Profit
============
When close less than short entry price and RSIofVWAp is crossing up 25 , take profit ...close 1/3 of the position
Exit
============
When RSIofVWAP crossing up 70 level
Stop Loss
============
Stop Loss is set to 5%
Note:
1. When strategy is in SHORT position , background and bar color changes to gray
2. When strategy is already in short position , possible entries are shown in yellow background
3. RSI Length 15 is working most of the equities on hourly chart. ( RSI length 9 and 14 also works good , but not for all ... You may want to try which setting works for your symbol)
4. weekly VWAP (blue color) is also plotted by default ... you can disable it if you dont want to see it. But there is advantage keeping it on the chart , you can notice whenever weekly VWAP crosses above 70 line , trend is UP ... if you have LONG position you can hold on it ... Hurray :-)
Warning
============
For the educational purposes only
RSI combined with 3 different indicatorsThis is RSI combined with 3 different indicators that prints signals as a overlay
1. RSI cross Bollinger Band indicator that paints bgcolor short and long signals when the RSI cross's up through the lower bollinger band ( Long ) or cross's down through the upper bollinger band ( Short )
2. RSI and Wave Trend Dot combination
3. RSI and Directional Index Indicator combinations
You can turn on and off any of the signals, and have alerts for all 3, or individually
Please note the Range Filter code in the script is not part of the final signals as i have set the bars back 100, so thatis always that condition meet
Also please note there is still noise with this, you need to use with something else like MFI or VFI
RSI, CCI WaveTrend God by Keiron RichieThis script uses Relative Strength Index ( RSI ), Commodity Channel Index ( CCI ) and WaveTrend (WT) together as an oscillator with an additional custom RSI rate of change indicator and buy/sell background color zones derived from a complex combination of these indicators.
The White line shows the moving average of RSI as an oscillator
The Green line is the fast Exponential Moving Average ( EMA ) of CCI & the Red line is the slow EMA of CCI .
The Blue area is the EMA of WaveTrend WT
How to read:
If the RSI , CCI or WT crosses above a programmed threshold and the other lines are also within a pre-defined buy range then the background will change to green for buy.
If the RSI , CCI or WT crosses below a programmed threshold and the other lines are also within a pre-defined sell range then the background will change to red for sell.
Where requirements are not met, the background is neither green nor red.
There are also red and green indicator x’s at the top/bottom of the indicator. They show a drastic change in Relative strength within a short period. This often indicates an immediate buy or sell opportunity.
Buy, Sell, Exit Buy and Exit Sell alerts are included.
Use the link below to obtain access to this indicator.
RSI cyclic smoothed v2Cyclic Smoothed Relative Strength Indicator
The cyclic smoothed RSI indicator is an enhancement of the classic RSI , adding
additional smoothing according to the market vibration,
adaptive upper and lower bands according to the cyclic memory and
using the current dominant cycle length as input for the indicator.
The cRSI is used like a standard indicator. The chart highlights trading signals where the signal line crosses above or below the adaptive lower/upper bands. It is much more responsive to market moves than the basic RSI.
You can also review this short idea where BTC went down from 4300 USD (3 Sept 17) to 3700 USD (15 Sept 17) after the idea was posted and showed the clear short exit with the next low:
The indicator uses the dominant cycle as input to optimize signal, smoothing and cyclic memory. To get more in-depth information on the cyclic-smoothed RSI indicator, please read Chapter 4 "Fine tuning technical indicators" of the book "Decoding the Hidden Market Rhythm, Part 1" available at your favorite book store.
This is the open-source code version of the requested script already published as protected indicator back in 2017 "RSI cyclic smoothed". Now made public as v2. Would love to receive feedback and see your ideas.
RSI Call-outs [BigBitsIO]This is a simple RSI indicator that overlays the current chart to show labels for specified oversold and overbought areas defined with inputs.
It will delete any labels of the same kind within the last 3 candles so you don't see as many labels as you would otherwise.
Red labels with white text represent overbought RSI levels as defined by the user.
Green labels with black test represent oversold RSI levels as defined by the user.
This RSI overlay help easily call-out overbought and oversold candles on a chart without sacrificing screen space for a traditional RSI indicator that is not overlayed on the chart.
RSI & StochasticA combination of RSI and Stochastic using default settings.
- RSI or Relative Strength Index is the white line.
- Stochastic %K is the aqua line
- Stochastic %D is the orange line
- The purple rectangle is the RSI range going from 30 (oversold) at the bottom to 70 (overbought)
- The top dotted line indicates the price being overbought on the stochastic
- The bottom dotted line indicates the price oversold on the stochastic
I mainly use both indicators to spot divergence/ potential upcoming turning points (tops or bottoms).
For example on the chart the white line shows the price of Bitcoin Rising
While the yellow line shows the stochastic declining and the red RSI stayed more or less at the same level.
Another way to use this indicator is to use the aqua line crossing above the orange line as an entry for a long trade this strategy is most useful when both are near the bottom of the range. The opposite is true for short trades but
both should be combined with other indicators such as moving averages support levels or volume for best results.
Generally RSI is more useful in trending markets & the stochastic is more useful in sideways or choppy markets.
