OB OS RSI Strategy

[Apprentice]

Long
Price > 200 MA
RSI < OS.
Exit
RSI > OB
I have added RSI Cross and in Zone Trade Signals.
For Short, use inverse logic.

OB OS RSI Strategy.lua

(19.32 KiB) Downloaded 1415 times

[dstoltz]

I am using the OB OS RSI strategy on a live account for the first time. The first trade it made was a short when RSI crossed below OB range,as it was supposed to. However, it was taken with price above the MVA200 which, if I understand the setup procedure, it should only take shorts when price is under MVA200 and OB down crossover occurs and longs are only taken when price is above MVA 200 and OS level is crosses up Could you confirm my assumptions or tell me how to correct the behavior to do what I want it to?

[Apprentice]

For Long Trade
Trade if Price greater than MA
AND
If "Zone" is selected
If RSI is less then OS
If "Cross" is selected
RSI crossover OS


For Short Trade
Trade if Price less than MA
AND
If "Zone" is selected
If RSI is greater then OB
If "Cross" is selected
RSI crossunder OB

[virgilio]

Is it possible to make the following variations:

For Long Trade (and keep it LONG until a reverse happens)
Trade if Price greater than MA
AND
RSI greater than OB

For Short Trade (and keep it SHORT until a reverse happens)
Trade if Price less than MA
AND
RSI smaller than OS

Thanks a million.

[Apprentice]

Try this version.

OB OS RSI Strategy.lua

(18.31 KiB) Downloaded 1028 times

Trades are generated by Price / MA Cross.

RSI Filter
If "Trade only during Oversold Overbought conditions" is set to "Yes"
Long trades will happen if RSI> OB
Short trades will happen if RSI <OS
otherwise
Long trades will happen if RSI <OB
Short trades will happen if RSI> OS

[virgilio]

Thank you for your variations. I have been testing this strategy all day and this is what I found.

If the Price crosses over/under the MA at the same time as the RSI crosses over/under the OB OS, then the trade is triggered.

But, if the Price was already over/under the MA then it does not matter what the RSI does because the trade will not trigger.

To finalize this strategy you would have to make sure that it triggers when the Price over/under MA and the RSI over/under OB OS but they don't need to happen at the same time, each variable needs to be independent.

Thank you so very much.

[dstoltz]

I've been live trading this strategy all week and your observation would explain why most of the RSI crossings out of the zones aren't being triggered. The strategy did trade 5 or 6 times this week on a 2hr chart of 10 pairs or so. The low number of trades may be attributed as you described. I'll look at the trades it did take, this weekend.

[Apprentice]

Try updated version.

[Paulo C]

Hi mate, you can take the strategy to MA, and leave only the RSI?
thank you

[Apprentice]

Can you explain your request in more detail.
To Remove, MA filter?