FieryTrading

RSI Trend Crypto

Dear community,

Today I want to present you one of my favorite and simple trading bots: The RSI Trend.
This bot is based on the RSI , which normally is used as a trend reversal indicator. However, here it’s used as a trend finding indicator, often with great success. This bot making long-only trades, which is quite successful in bull-markets like the one we’re currently in.

In case you want to use an emergency exit for your trade, toggle the Emergency Exit parameter. During bull-markets it’s better in the long term to keep this option off.

Currently the bot only makes one trade at a time (pyramiding = 1), for higher risk and higher rewards you can increase this parameter. More than 5 is not advised.

I’ve optimized this bot on 15min time frame. It has some decent results for most cryptos on this TF, feel free to test this out.

In case you want to hook this bot up to your exchange, feel free to edit the ALERT messages in the code.

Default Trading Rules:
Long: RSI crosses over 35
Close Long: RSI crosses under 75
Emergency Exit: RSI crosses under 10
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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Kommentarer

100 coins
Svara
Hello
Thanks for sharing your very helpful strategy
one question
Do you know a way to trade this strategy roboticall and automatically in a crypt exchange?
Thanks
+14 Svara
Hey man great work. I m trying to modify your script so that it only sells if the price is higher than the last buy.
Newbie here.
So I declare a new variable:

var lastBuy = 0.0

then I say:

if long
lastBuy := close

and I change one line to:

longclose = crossunder(rsi, RSIclose) and closed > lastBuy

1. does it make sense to you?
2. It still shows some closing above the last buy.

Any help would be super appreciated.

Thanks!
+1 Svara
ARLX69 Enashka
@Enashka, im not sure if thats goning to work, how would you record the last buy?
Svara
Enashka ARLX69
@ARLX69, By creating the variable lastBuy and assigning the buy price to it each time it buys:

if long
lastBuy := close
Svara
Merci beaucoup, mais comme Ferighp, je suis 'comme une poule qui a trouvé un couteau"
Quelqu'un pour partager le fonctionnement de cet indicateur si apprécié please ?
+1 Svara
Thx a lot fiery, i am not in premium group but u help all people
+1 Svara
thank you
Svara
Wow super cool concept. Thank you!
Svara