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RSI Multi Strategies With Overlay Signals

Hello everyone,

In this indicator, you will find 6 different entry and exit signals based on the RSI:

  1. Entry into overbought and oversold zones
  2. Exit from overbought and oversold zones
  3. Crossing the 50 level
  4. RSI cross RSI MA below or above the 50 level
  5. RSI cross RSI MA in the overbought or oversold zones
  6. RSI Divergence



With the signals identified, you can create your own strategy. (If you have any suggestions, please mention them in the comments).

Beyond these signals, you can set SL (Stop Loss) and TP (Take Profit) levels to better manage your positions.

SL Methods:

Percentage: The stop loss is determined by the percentage you specify.
ATR: The stop level is determined based on the Average True Range (ATR).
TP Methods:

Percentage: The take profit is determined by the percentage you specify.
RR (Risk Reward): The take profit level is determined based on the distance from the stop level.
You can mix and match these options as you like.


What makes the indicator unique and effective is its ability to display the RSI in the bottom chart and the signals, SL (Stop Loss), and TP (Take Profit) levels in the overlay chart simultaneously. This feature allows you to manage your trading quickly and easily without the need for using two separate indicators.


Let's try out a few strategies together.

My entry signal: RSI Entered OS (Oversold) Zone
My exit signal: RSI Entered OB (Overbought) Zone

I'm not using a stoploss for this strategy ("Fortune favors the brave").
快照

快照
Let's keep ourselves safe by adding a stop loss.
I'm adding an ATR-based stop loss.
快照
I think it's better now.


If you have any questions or suggestions about the indicator, you can contact me.

Cheers

atrstoplossCandlestick analysisoverboughtoversoldPortfolio managementrelativestregthindexRelative Strength Index (RSI)riskmanagmentrsidivergencetradingsignals

開源腳本

在真正的TradingView精神中,這個腳本的作者以開源的方式發佈,這樣交易員可以理解和驗證它。請向作者致敬!您可以免費使用它,但在出版物中再次使用這段程式碼將受到網站規則的約束。 您可以收藏它以在圖表上使用。

想在圖表上使用此腳本?


Milvetti
Trader/Developer
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