RSI Mean Reversion Bot Strategy by Solutions1978
By Solutions1978
Performance Metrics
- Author: Solutions1978
- Symbol: COINBASE:EOSUSD
- Timeframe: 30 minutes
- Net P&L: +3,793.04 USD (+457.04%)
- Win Rate: 100.0%
- Max Drawdown: 5.48 USD (0.18%)
- Total Trades: 7
- Sharpe Ratio: 0.366
Description
Mar 10, 2021I started developing this strategy as a way to plug in and test values before defining them in the bots on 3Commas, Coinrule, and Quadency. None of those bots performed the same way my script did and I kept working on it until the strategy finally yielded the same simulated results when paired with the Tradingview bot on Quadency. I looked at all the different RSI strategies already published and saw what each was missing and changed it in mine to make it better:1. Backtest an actual timeframe by date and time2. Define the RSI price source3. Fully manipulate the RSI length4. Define a stop loss that works5. Pick Long or Short, or both, based on market conditions. Or compare side by side to decide which you want. Mar 15, 2021Release NotesSince I saw quite a few likes to my previous script I decided to try and make it better since it was taking me so much time tinkering and guessing the right upper and lower values. After I figured out that I could move the strategy to its own pane, I decided to snazz it up. 1. This provides you with the visualizations of the Fast vs Slow EMA as background colors showing bear and bull conditions2. It shows a Stochastic RSI overlay to give you a visual check of whether or not you are setting the oversold and overbought values in the wrong region3. I used the EMA and OHLC to create a smooth candle for the price with the RSI overlaid on it so it is easier to see4. I added risk management to it with target profit and stop lossI tested the strategy today on MANA with $450 and it has yielded $109 in actual profit which is close enough to what the strategy shows for the time period I let it run in Short Only mode. When I tried adding trailing to the stop loss and take profit functions I received the re-drawing warning so I abandoned that. This is a solid strategy that pairs the three leading strategies to help you with setting it up. Word of caution to anyone new to using strategies on bots, the RSI strategy is not a set it and forget it strategy. It requires tinkering on a daily basis with the crypto market. The date range can be set into the future to avoid any shedding of tears, I typically have it run through 5 am and then check on it when I wake up and adjust accordingly. It has not failed me yet in the previous iterations and this one just makes the adjustments take 5 minutes as opposed to 20 minutes. Mar 15, 2021Release NotesPublished wrong version, this one has the smooth candle for price that is rescaled to work. Mar 15, 2021Release NotesForgot to update the showcase when I published the previous fix. I need sleep. Mar 16, 2021Release Notes1. Fixed Risk Management bug that was not calculating exit prices correctly2. Fixed the color of the RSI plot so it shows clearly3. Added option to hide the Stochastic RSI background4. Fixed the cross logic to maximize profits in entry and exitMay 30, 2021Release NotesI've updated this script with some of the updates I made to my other scripts, but still kept this one focused on a simple RSI strategy. The inputs only depend on the RSI inputs and back test dates. The other inputs for K, D, and EMA are only for visualization of the zone overlays to help visualize bear and bull markets. The back test settings shown in this publication are for EOS on the week of 23 May through 30 May. Chart Resolution = 30 minutesStart Time = 24 May 2021 00:00End Time = 31 December 2021 00:00Trade Types = Long/ShortStop Loss % = 2.27Target Profit % = 12.18RSI Length = 11Source = CloseOverbought = 77Oversold = 31All other settings are default.