I am new to this and have written a simple code which opens a sell order when the RSI is >70 and a buy order at <30. I have included for a target point range, which for this example can be 5.
The code works fine, except, when it opens a long/short and the market moves in the required direction taking the RSI below 70 or above 30 but does not however trigger the target of 5 but instead renters the >70 or <30 area, the program gets confused and will ignore the target of 5 and then only closes the short or long at the point of <30 and long at >70. Is there a change I can make that will ensure that any opened position will close at the target value irrespective if the value goes above or below the 30/70 RSI level, and also if this were to occur then every time it does break the RSI level, it opens a subsequent position. When I back test it as it is, its doing what I want except the times where it bounces in and out of the 70/30 area.
Any advice, help or modifications to the code would be appreciated.
I don’t think that makes any difference, whilst backtesting and having found this issue, the problem isn’t with the TP its when the price drops below/above the 70/30 RSi and then revisits that area. at that point, I want the code to open another trade or if nothing else, just close out the original trade at the required TP. what actually happens is that it doesn’t do this and waits for it to open/close a trade at the opposite RSI. logically, it should close at the required TP, for whatever reason this does work, but fails if it renters the are of 70/30.
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