Hi. Can someone help me create a strategy with RSI?
The rules are:
buy at close when RSI crosses below 10 and sell when price hits maximum of the last 2 candles.
The rules are:
buy at close when RSI crosses below 10 and sell when price hits maximum of the last 2 candles.
Rename
This is a pretty basic strategy that you can do with blocks. Use the "Indicator Crosses Value" condition with a "small" RSI period (or you'll rarely get below 10). For the sell, it's not clear if you're talking about the 2 candles at the time of the entry or any time after the entry. If the former, what happens if it never exceeds that 2-bar high?
I'd be happy to help more if you can't figure it out, but you should take some time to watch the videos in the Wealth-Lab U. playlist, which will give you a lot of insight:
https://www.youtube.com/playlist?list=PLcYQ6caO-N5yiSXsCqbDoAHDIdxTgFOEQ
I'd be happy to help more if you can't figure it out, but you should take some time to watch the videos in the Wealth-Lab U. playlist, which will give you a lot of insight:
https://www.youtube.com/playlist?list=PLcYQ6caO-N5yiSXsCqbDoAHDIdxTgFOEQ
Since WL8 always issues trades for the bar AFTER the one you're analyzing, you'll need to look ahead one bar in order the trade at the close based on indicator values as of the close of that bar. Using Building Blocks you'd need the Power Pack extension, and this is the setup:
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