New Pine Script: BB+RSI Strategy

This strategy is based on 2 indicators which are Bollinger Bands (BB) and Relative Strength index (RSI).

Strategy Description: Buy order placed when price crosses down lower BB (MA50, StdDev4) and the RSI (length 4) is below 20.

Potential ROI Monthly (in sideway/bullish): 2%

Recommended Settings:

Pair: BTCUSDT , ETHUSDT

Time frame: 3mins

Initial Capital: 50

Base Currency: Default

Order Size: 11 USDT

Pyramiding: 4 orders

Commission: 0.1 %

Take Profit: 4%

Stop Loss: nil

//@version=4
strategy("BB+RSI [capayam.com]", overlay=true)

// Bollinger Bands
length = input(50, "Bollinger Bands Length")
mult = input(4.0, "Bollinger Bands Standard Deviation")
basis = sma(close, length)
dev = mult * stdev(close, length)
upperBand = basis + dev
lowerBand = basis - dev

// RSI
rsiLength = input(4, "RSI Length")
rsiOverbought = input(20, "RSI Overbought Level")

// Entry conditions
priceCrossedLowerBand = crossover(close, lowerBand)
priceClosedWithinBands = close > lowerBand and close < upperBand
rsiBelowOversold = rsi(close, rsiLength) < rsiOverbought

// Exit conditions
takeProfit = input(4.0, "Take Profit (%)")
stopLoss = input(50.0, "Stop Loss (%)")

// Strategy logic
if (priceCrossedLowerBand and priceClosedWithinBands and rsiBelowOversold)
    strategy.entry("Buy", strategy.long)
    strategy.exit("Sell", "Buy", limit=close * (1 + takeProfit/100), stop=close * (1 - stopLoss/100))

Comments

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New Pine Scipt: Martingale Strategy

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We are moving!

. Yes, we have moved to a new domain! Our new website will be at kriptos.my Some of the recent posts have been moved to the new website. There will be no new post in this blog. Come visit us here: https://kriptos.my/

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