RSI-RS Strategy by sandeepgoyal194
By sandeepgoyal194
Performance Metrics
- Author: sandeepgoyal194
- Symbol: NSE:MCX
- Timeframe: 1 day
- Net P&L: +382,100.80 INR (+14.94%)
- Win Rate: 83.3%
- Profit Factor: 18.691
- Max Drawdown: 28,692.35 INR (1.15%)
- Total Trades: 6
Description
RSI-RS Strategy: Smart Trend Following 🚀OverviewThis strategy combines Multi-Timeframe RSI with Mansfield Relative Strength to identify high-momentum breakouts in strong stocks. Unlike standard RSI strategies, it features a "Smart Trailing Stop" that tightens when momentum weakens but respects key RSI 50 support levels to avoid shaking you out of winning trades.Key Features ✨1. 🎯 High-Probability EntriesMulti-Confirmations: Requires Monthly RSI > 60 and Weekly RSI > 60 (Trend is Up).Dual Trigger: Enters on a Daily RSI Breakout (>60) OR a Weekly RSI Catch-up, ensuring you don't miss late moves.RS Filter: Only buys stocks outperforming the Index (RS > 0).New Listing Safe: Automatically skips Monthly checks for new IPOs lacking history.2. 🛡️ Advanced "Hybrid" Stop LossThis strategy solves the "Wick Out" problem:Confirmation Exit: If price drops below the Stop Loss, it waits for the Next Candle to confirm the breakdown. It ignores intraday wicks!Crash Protection: Includes a "Panic Button" (Default 3% buffer). If price crashes rapidly intraday, it exits immediately to save capital.Smart Trailing: The Stop Loss moves UP when RSI shows weakness ( [Price]" before the trade triggers.Transparency: "SL Update" diamonds prove exactly why the stop moved (showing the RSI value).Settings Guide ⚙️Confirmation Window: How many bars the breakout remains valid (Default: 2).RSI Support Buffer: The "Safe Zone" range above 50 (Default: 5).Crash Buffer %: Distance below SL for immediate emergency exit (Default: 3.0%).Visuals: Toggle Setup Labels and SL Diamonds on/off to keep your chart clean.How to Trade ItGreen Background: You are in a trade.Red Line: Your Hard Stop Loss (Closing Basis).Maroon Dotted Line: Your Crash Limit (Intraday Danger Zone).Orange Diamond: Warning! RSI Weakness detected, SL has tightened.DisclaimerBacktested on Indian Equities (NSE). Designed for Swing Trading on Daily Timeframe. Always manage your own risk.Release NotesAdded intial SL condition configuraable if intial SL more than that it will not generate entry