RSI Buy & Sell Trading Script — Strategy by CRabbit
By CRabbit
Performance Metrics
- Author: CRabbit
- Symbol: BYBIT:UNFIUSDT
- Timeframe: 45 minutes
- Net P&L: +31.37 USDT (+31.36%)
- Win Rate: 76.6%
- Profit Factor: 1.417
- Max Drawdown: 4.37 USDT (3.32%)
- Total Trades: 1,651
- Sharpe Ratio: 0.73
Description
Oct 9, 2022This is my first attempt at a trading script using the RSI indicator for Buy & Sell signals (so please be nice but would appreciate any constructive comments).Starting with $100 initial capital and using 10% per tradeYou can select which month the backtesting starts There is also a monthly table (sorry can’t remember who I got this from) that shows the total monthly profits, but you’ll need to turn it on by going into settings, Properties and in the Recalculate section tick the “On every tick” box It should do the following:Open Buy order if the RSI > 68 and the current Moving Average is greater than the previous Moving average• TP1 = 50% of Order at 0.4%• TP2 = 50% of order at 0.8%• SL = 2% below entry• Close Buy order if the RSI < 30Open Sell order if the RSI < 28 and the current Moving Average is less than the previous Moving average• TP1 = 50% of Order at 0.4%• TP2 = 50% of order at 0.8%• SL = 2% above entry• Close Buy order if the RSI < 60I would like to build on this if you have any ideas/ code that could help like the following:• Move the SL to break even when it hits TP1• Move the SL to TP1 when TP2 hits• Moving take profit code so I can let the some of the trade stay in play (activate if it hits 1% profit and close trade if price retracts 0.5%)Oct 13, 2022Release NotesSlight change on the line 55-57 and 67-69