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- Pine Script Strategy
This strategy only uses RSI value and lines. RSI fast length at 12, while RSI slow legth at 21. And we determined the bullish momentum by selecting RSI level >63. Pretty simple. And its meant for short time frame.
Strategy Description: RSI (12) crosses up RSI (21) line, and RSI level above 63
Expected potential ROI Monthly (in sideway/bullish market): 8%
Recommended Settings:
Pair: BTCUSDT
Time frame: 5min
Initial Capital: 100
Base Currency: Default
Order Size: 33% equity
Pyramiding: 3
Commission: 0.1 %
Exit strategy: TP or SL
Take Profit: 3%
Stop Loss: 1%
//@version=4
strategy(“RSI Crossover Strategy [www.capayam.com]”, overlay=true)
// Input parameters
fastLength = input(12, title=“Fast RSI Length”)
slowLength = input(21, title=“Slow RSI Length”)
rsiOverboughtLevel = input(63, title=“RSI Overbought Level”)
takeProfitPercentage = input(3, title=“Take Profit (%)”) / 100
stopLossPercentage = input(1, title=“Stop Loss (%)”) / 100
// Calculate RSI values
rsiFast = rsi(close, fastLength)
rsiSlow = rsi(close, slowLength)
// Conditions for entering long position
enterLong = crossover(rsiFast, rsiSlow) and rsiSlow > rsiOverboughtLevel
// Execute long position
strategy.entry(“Long”, strategy.long, when=enterLong)
// Take Profit and Stop Loss levels
takeProfitLevel = close * (1 + takeProfitPercentage)
stopLossLevel = close * (1 – stopLossPercentage)
// Set Take Profit and Stop Loss levels for the long position
strategy.exit(“Take Profit/Stop Loss”, from_entry=“Long”, profit=takeProfitLevel, loss=stopLossLevel)
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