OPEN-SOURCE SCRIPT
[BoTo] RSI Trend Strategy
Open source code.
It is very old trade strategy. It is older than you :) Uses the RSI indicator. The RSI indicator has described Welles Wilder in the book in 1978. And all this is still profitable!
Additional articles
1. en.wikipedia.org/wiki/J._Welles_Wilder_Jr.
2. en.wikipedia.org/wiki/Relative_strength_index
3. tradingview.com/wiki/Relative_Strength_Index_(RSI)
How it works
Step 1. The user chooses length for RSI
Step 2. If RSI is more than 50, then it is a uptrend and the long position opens. It is necessary to close a short position if it is opened earlier.
Step 3. If RSI is less than 50, that is a downtrend and the short position opens. It is necessary to close a long position if it is opened earlier.
Well is suitable for the market of cryptocurrencies. Well length from 3 to 7 approaches. Don't use length 14 because for cryptocurrencies it is too much. Cryptocurrencies it is very volatile market. You can also use the RSI indicator which is built in on TradingView.com.
It is very old trade strategy. It is older than you :) Uses the RSI indicator. The RSI indicator has described Welles Wilder in the book in 1978. And all this is still profitable!
Additional articles
1. en.wikipedia.org/wiki/J._Welles_Wilder_Jr.
2. en.wikipedia.org/wiki/Relative_strength_index
3. tradingview.com/wiki/Relative_Strength_Index_(RSI)
How it works
Step 1. The user chooses length for RSI
Step 2. If RSI is more than 50, then it is a uptrend and the long position opens. It is necessary to close a short position if it is opened earlier.
Step 3. If RSI is less than 50, that is a downtrend and the short position opens. It is necessary to close a long position if it is opened earlier.
Well is suitable for the market of cryptocurrencies. Well length from 3 to 7 approaches. Don't use length 14 because for cryptocurrencies it is too much. Cryptocurrencies it is very volatile market. You can also use the RSI indicator which is built in on TradingView.com.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.