RSI Strategy by sonnyparlin
By sonnyparlin
Performance Metrics
- Author: sonnyparlin
- Symbol: BINANCE:BTCUSDT
- Timeframe: 1 hour
- Net P&L: +924,314,199.08 NONE (+936,552.68%)
- Win Rate: 82.1%
- Profit Factor: 2.194
- Max Drawdown: 53,800,490.10 NONE (14.99%)
- Total Trades: 1,528
- Sharpe Ratio: 0.696
Description
Oct 23, 2021This RSI strategy is different than most in that it doesn't pick a buy signal based on the RSI rising above a specific number (usually 30). Instead, it creates a 14 day exponential moving average of the Relative Strength Index and uses the following two conditions together to trigger a buy:Entry conditions: Condition1: Rising of the RSI's moving average for (user defined) candles in a row Condition 2: The RSI is < 70The reasoning behind condition 1 is that we are trying to buy into a rising trend, the moving average helps to confirm the trend, whereas the RSI rising above a specific number (usually 30) gives us no real indication that the asset will increase and produces less wins overall. The reasoning behind condition 2 is to avoid buying at the top of a climb. Exit conditions: Condition 1: The RSI moving average is falling Condition 2: Close < Trailing stop activation Level Condition 3: We have at least (user defined) % profitThe reasoning behind sell condition 1 is a falling RSI moving average (down trend starting). The close has to be under the trailing stop activation level, if we've triggered the trailing stop, we want the trailing stop to do it's job and not exit the trade until the trailing stop takes us out. The reasoning behind condition 3 is to not exit without at least some profit (user defined). Oct 23, 2021Release NotesRemoved old comments from script.Oct 24, 2021Release NotesMade condition 2 user configurable. Also switched chart to hour candles and modified the strategy's settings accordingly.Oct 24, 2021Release NotesUpdated fee structure to match binance.Oct 24, 2021Release NotesSpent a little more time updating settings for the chart.