[SHARE] Simple RSI BULL/BEAR strategy

[jvs]

Might I suggest that someone writes into the strategy a stop loss that follows these rules:

if the LAST signal from RSIBB was BUY
and the CURRENT signal from RSIBB is BUY
and the CURRENT price is LESS than the STOPLOSS (Eg: Buy price - 5%)
THEN OVERWRITE the CURRENT signal to SELL

That means that the script will execute a stop loss while:
The price is lower than the stoploss and the RSIBB signal is buy

IF the stoploss is active, and RSIBB changes its own signal from buy to sell... then the stoploss gets "reset".

If the price climbs back up again to go above the stoploss, and the signal from RSIBB is *still* buy, then the script will buy.


I'm guessing that previously others have tested a stop loss where once it's hit, then the asset is sold and that's it. The above strategy will buy back again if the price rises backup, so it's still following the RSIBB strategy, just with a smart stoploss.

One could further it I guess by setting a trailing stop or even a take profit.

I've tested the above strategy and the results speak for themselves...I'll let you guys find out I would honestly do it, but I don't know the quirks and ins and outs of gekko and javascript well enough to do it myself sorry.

Hmm...tail between my legs. When I put this into my script, it had massive results. Too good to be true.

Alas, it was. The way I had implemented it allowed the script to time travel and go back and remove buy orders, so the returns were so so wrong.

As per previous comments in the thread - stop losses don't garner any gain using this strategy. ah well, back to the drawing board!