Repeated RSI stop in a trend

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

  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

  

  Paulchal

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

  Try this (not tested):

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

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  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.

  

  robertogozzi

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

  Lovely thanks

  

  Paulchal

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