Can RSI Alone Make You Profit? A Simple Yet Powerful EA [Code + Backtest Included] - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Let me write a simple condition for you. Just with RSI
For Buy :
For Sell :
Reason :
You just do not open a trade when RSI touch OB or OS. Instead you wait for RSI to go at certain level and reverse back and also checking the candle.
That’s a really neat condition thanks for sharing it! 🙏
I love how it checks for a short-term RSI pullback after being in an overbought/oversold zone for a few bars. That gives it a more “mean reversion with confirmation” feel instead of just reacting to a single level cross.
Also, the use of PRICE_HIGH and PRICE_LOW for RSI is interesting — I usually stick with PRICE_CLOSE , but I’ll definitely test your version to see how it behaves.
I’ll implement this and share the backtest results soon. Would be fun to compare how this performs against the basic RSI 30/70 bounce. Appreciate the collaboration!
RSI default settings, BB default settings, EMA 200
RSI + BB (Trend Reversal)
BB touch Resistance Line && RSI touch Overbought && Candle is showing reversal (bear candle) => SELL Trade
BB touch Support Line && RSI touch Oversold && Candle is showing reversal (Bull candle) => BUY Trade
RSI + BB (Along with Trend)
BB touch Resistance Line && RSI touch Overbought && Candle is showing reversal (Bull candle) => Take BUY Trade
BB touch Support Line && RSI touch Oversold && Candle is showing reversal (Bear candle) => SELL Trade
RSI + MA (Trend Reversal)
RSI > OB && Market Price < 200 EMA && Bear candle = SELL Trade
RSI < OS && Market Price > 200 EMA && Bull Candle = BUY Trade
RSI + MA (Along with Reversal)
RSI > OB && Market Price > 200 EMA && Bull candle = BUY Trade
RSI < OS && Market Price < 200 EMA && Bear Candle = SELL Trade
Heh, I was also trying to figure out how effective this could be a few months ago.
I haven't really gotten anywhere with it. It's not a reliable solution on it's own, I don't think.
I totally get that I’ve had that same feeling during testing.
It’s definitely not a “plug-and-play” kind of system, and without filters it gives really inconsistent results.
That’s actually why I’m trying to break it down and test piece by piece to see what’s contributing value and what’s just noise.
If you ever revisit it or find anything interesting around RSI in combination with other tools, feel free to drop a note would love to compare thoughts!
It could work as all you're doing is attempting to buy low and sell high. BUT I wouldn't recommend a fixed TP/SL in a variable market, for all you know if you enter long at RSI 30 the 30 pip TP could be well beyond RSI 70. You're doing a mean reversion strategy so generally speaking you would exit at the mean, not some arbitrary fixed TP/SL that you probably pulled out your butt (or worse, ran through MetaTrader optimization and then found the number that's overfitted to the data set).
And remember popular isn't profitable when most people lose. Popular indicators try to tell you what to do, but that's not how you execute a good trade. A good trade consists of figuring out what your opponents are most likely to do and then exploiting that for financial gain.
But as it stands, every big player knows when RSI hits 70 there's going to be a bunch of newbies selling. Don't use RSI to join the club of sellers because when you trade like the 90% you're going to lose like the 90%.