[BoTo] RSI Trend Strategy by BoTo
By BoTo
Performance Metrics
- Author: BoTo
- Symbol: BITFINEX:ETHBTC
- Timeframe: 1 day
- Net P&L: +10,462,482.32 NONE (+10,422.37%)
- Win Rate: 37.9%
- Profit Factor: 4.079
- Max Drawdown: 1,283,757.67 NONE (39.20%)
- Total Trades: 87
- Sharpe Ratio: 0.472
Description
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 articles1. en.wikipedia.org/wiki/J._Welles_Wilder_Jr.2. en.wikipedia.org/wiki/Relative_strength_index3. tradingview.com/wiki/Relative_Strength_Index_(RSI)How it worksStep 1. The user chooses length for RSIStep 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.