Bollinger Bands + RSI Double Long Strategy
This strategy combines the Bollinger Bands indicator and the RSI indicator to go long when both show an oversold signal, and to close the long position when both show an overbought signal. Compared with a single indicator, it can more reliably confirm trading signals and avoid false signals.
This strategy combines the strengths of Bollinger Bands and RSI indicators to trade when both show extremes. This avoids false signals from a single indicator and improves signal accuracy. Compared to previous versions, only establishing long positions reduces trading risk. Future optimizations can be done through parameter tuning, stop loss mechanisms, combining with trend indicators etc. to make the strategy adaptable to different market environments.
/*backtest start: 2023-11-30 00:00:00 end: 2023-12-07 00:00:00 period: 1m basePeriod: 1m exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}] */ //@version=3 strategy("Bollinger + RSI, Double Strategy Long-Only (by ChartArt) v1.2", shorttitle="CA_-_RSI_Bol_Strat_1.2", overlay=true) // ChartArt's RSI + Bollinger Bands, Double Strategy UPDATE: Long-Only // // Version 1.2 // Idea by ChartArt on October 4, 2017. // // This strategy uses the RSI indicator // together with the Bollinger Bands // to buy when the price is below the // lower Bollinger Band (and to close the // long trade when this value is above // the upper Bollinger band). // // This simple strategy only longs when // both the RSI and the Bollinger Bands // indicators are at the same time in // a oversold condition. // // In this new version 1.2 the strategy was // simplified by going long-only, which made // it more successful in backtesting. // // List of my work: // https://www.tradingview.com/u/ChartArt/ // // __ __ ___ __ ___ // / ` |__| /\ |__) | /\ |__) | // \__, | | /~~\ | \ | /~~\ | \ | // // ///////////// RSI RSIlength = input(6,title="RSI Period Length") RSIoverSold = 50 RSIoverBought = 50 price = close vrsi = rsi(price, RSIlength) ///////////// Bollinger Bands BBlength = input(200, minval=1,title="Bollinger Period Length") BBmult = 2 // input(2.0, minval=0.001, maxval=50,title="Bollinger Bands Standard Deviation") BBbasis = sma(price, BBlength) BBdev = BBmult * stdev(price, BBlength) BBupper = BBbasis + BBdev BBlower = BBbasis - BBdev source = close buyEntry = crossover(source, BBlower) sellEntry = crossunder(source, BBupper) plot(BBbasis, color=aqua,title="Bollinger Bands SMA Basis Line") p1 = plot(BBupper, color=silver,title="Bollinger Bands Upper Line") p2 = plot(BBlower, color=silver,title="Bollinger Bands Lower Line") fill(p1, p2) ///////////// Colors switch1=input(true, title="Enable Bar Color?") switch2=input(true, title="Enable Background Color?") TrendColor = RSIoverBought and (price[1] > BBupper and price < BBupper) and BBbasis < BBbasis[1] ? red : RSIoverSold and (price[1] < BBlower and price > BBlower) and BBbasis > BBbasis[1] ? green : na barcolor(switch1?TrendColor:na) bgcolor(switch2?TrendColor:na,transp=50) ///////////// RSI + Bollinger Bands Strategy long = (crossover(vrsi, RSIoverSold) and crossover(source, BBlower)) close_long = (crossunder(vrsi, RSIoverBought) and crossunder(source, BBupper)) if (not na(vrsi)) if long strategy.entry("RSI_BB", strategy.long, stop=BBlower, comment="RSI_BB") else strategy.cancel(id="RSI_BB") if close_long strategy.close("RSI_BB") //plot(strategy.equity, title="equity", color=red, linewidth=2, style=areabr)template: strategy.tpl:40:21: executing "strategy.tpl" at <.api.GetStrategyListByName>: wrong number of args for GetStrategyListByName: want 7 got 6