Hi, Yo_adriiiiaan
This script is very good and its working too... but I have confusion. you said, "buy when rsi is above 70 and don't sell until rsi is below 30." Is this a true line, because theory says rsi above 70 is overbought and one should initiate short and rsi 30 is considered as oversold and one should take Long.
Kindly guide me about this. what should be considered for overbought and oversold in this strategy?
Thanks.
bitcoinalexis
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@HHP060886,
//@version=3
///buy when rsi is above 70 and don't sell until rsi is below 30.
strategy("RSI Buy and Sell", overlay=true)
a = rsi(close,14)
OB = input(70)
OS = input(30)
os = a > OB
ob = a < OS
strategy.entry("RSI", strategy.long, when = ob)
strategy.close_all(when = os)
b36664984
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@bitcoinalexis, please give me study script RSI Buy and Sell
bitcoinalexis
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@b36664984, Hello friend, I don't understand your message, are you asking me for the complete code I use?
Be0wulf
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Could you make buy and sell signal every time candle cross OB/OS level from below or above ?
This script is very good and its working too... but I have confusion. you said, "buy when rsi is above 70 and don't sell until rsi is below 30." Is this a true line, because theory says rsi above 70 is overbought and one should initiate short and rsi 30 is considered as oversold and one should take Long.
Kindly guide me about this. what should be considered for overbought and oversold in this strategy?
Thanks.