New Pine Script: RSI Cross 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)