Repeated RSI stop in a trend

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  • 07/25/2020 at 4:34 PM #140090 quote
    Paulchal
    Participant
    Average

    I have written a simple RSI code but don’t know how to write an add on to stop being stopped repeatedly by the same trend.

    If RSI >70 sell short. Fine easy.

    But if it dips to say RSI 65 and then heads back up to RSI 73 and hits my stop loss and then  heads back down and then back to RSI >70 it will sell short again but still in a bull trend.

    What code do I insert to detail if stopped out do not enter a new short sell trade unless RSI < 50 then heads back to 70 on a completely different rally later than day.

    Many thanks for any help

    07/26/2020 at 10:34 AM #140122 quote
    robertogozzi
    Moderator
    Master

    Try this (not tested):

    Once TradeON = 1
If StrategyProfit < StrategyProfit[1] Then
   TradeON = 0
Endif
If Rsi[14](close) < 50 Then
   TradeON = 1
Endif

    add And TradeON to your conditions to enter a trade.

    07/28/2020 at 9:04 PM #140341 quote
    Paulchal
    Participant
    Average

    Lovely thanks

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Repeated RSI stop in a trend


ProOrder: Automated Strategies & Backtesting

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Paulchal @paulchal Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by Paulchal
5 years, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/25/2020
Status: Active
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