This strategy is based on the Relative Strength Index (RSI) indicator. It determines buy and sell signals by judging whether the RSI value exceeds preset upper and lower thresholds. Additionally, the strategy sets stop-loss and position duration limits to control risk.
This strategy utilizes the RSI indicator to capture overbought and oversold signals in the market while introducing stop-loss and position duration limits to control risk. The strategy logic is simple and straightforward, easy to implement and optimize. However, the performance of the strategy may be affected by market volatility and parameter settings. Therefore, it is necessary to combine other analysis methods and risk management measures to improve the robustness and profitability of the strategy.
/*backtest start: 2024-05-01 00:00:00 end: 2024-05-31 23:59:59 period: 1h basePeriod: 15m exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}] */ //@version=5 strategy("Simple RSI Strategy", overlay=true, initial_capital=20, commission_value=0.1, commission_type=strategy.commission.percent) // Define the hardcoded date (Year, Month, Day, Hour, Minute) var hardcodedYear = 2024 var hardcodedMonth = 6 var hardcodedDay = 10 // Convert the hardcoded date to a timestamp var start_date = timestamp(hardcodedYear, hardcodedMonth, hardcodedDay) // settings order_size_usdt = input.float(20, title="Order Size (USDT)") rsiLength = input.int(9, title="RSI Length") rsiBuyThreshold = input.int(30, title="RSI Buy Threshold") rsiSellThreshold = input.int(70, title="RSI Sell Threshold") rsibuystrat = input.int(1, title="buy strat 1=achieved,2=recross") rsisellstrat = input.int(1, title="sell strat 1=achieved,2=recross") stoploss = input.int(1, title="Stop loss percent") max_duration = input(24, title="Max Position Duration (hours)")*60 // emaPeriod = input.int(50, title="EMA Period") // smaPeriod = input.int(200, title="SMA Period") rsi = ta.rsi(close, rsiLength) // ma_rsi = ta.sma(rsi, rsiLength) // ema = ta.ema(close,emaPeriod) // sma = ta.sma(close,smaPeriod) // plot(sma, color=color.red, title="exp Moving Average") // plot(smal, color=color.blue, title="Simple Moving Average") longCondition = ((ta.crossunder(rsi, rsiBuyThreshold) and rsibuystrat==1) or (ta.crossover(rsi, rsiBuyThreshold) and rsibuystrat==2) ) and strategy.position_size == 0 shortCondition = ( (ta.crossover(rsi, rsiSellThreshold) and rsisellstrat==1) or (ta.crossunder(rsi, rsiSellThreshold) and rsisellstrat==2) ) and strategy.position_size > 0 // Execute Buy and Sell orders if (longCondition) positionSize = order_size_usdt / close strategy.entry("Long", strategy.long,qty=positionSize) if (stoploss>0) stopLossPrice = close * (1 - stoploss/100 ) strategy.exit("Stop Loss", from_entry="Long", stop=stopLossPrice) if (shortCondition )//or stopCondition) strategy.close("Long") //add condition open time if (strategy.position_size > 0 and max_duration >0) var float entry_time = na if (strategy.opentrades > 0) entry_time := nz(strategy.opentrades.entry_time(0), na) else entry_time := na current_time = time var float duration_minutes = -1 if (not na(entry_time)) duration_minutes := (current_time - entry_time) / 60000 // Close positions after a certain duration (e.g., 60 minutes) // if ( duration_minutes > max_duration and close>=strategy.opentrades.entry_price(0)) if ( duration_minutes > max_duration ) label.new(bar_index, high, text="Duration: " + str.tostring(duration_minutes/60) + " hrs", color=color.blue, textcolor=color.white, style=label.style_label_down, size=size.small) strategy.close("Long") // Plot Buy and Sell signals plotshape(series=longCondition, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY") plotshape(series=shortCondition, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL") //plotshape(series=stopCondition, title="stop Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL") // Plot RSI // hline(rsiBuyThreshold, "RSI Buy Threshold", color=color.green) // hline(rsiSellThreshold, "RSI Sell Threshold", color=color.red)template: strategy.tpl:40:21: executing "strategy.tpl" at <.api.GetStrategyListByName>: wrong number of args for GetStrategyListByName: want 7 got 6