Relative Strength Index — RSI
The RSI is calculated on the change in closing price. In ITradingBot, the signal condition depends on the chosen way to cross borders or change direction. This indicator is available in the ISignal entry and exit blocks.
Set the time and boundaries
Add the RSI to the right block. The instrument is out of the question. Select The TF, Candle Type and Calculation. The bar closure check uses a closed bar, and the bar at the intersection (every second) allows you to check the bar that is forming.
Please specify The period, Upper boundary and Lower boundary. The limits are the RSI, not the price of the instrument. The upper limit should be higher than the lower limit.
For the conditions of exit and return to the canal, the period is allowed from 2 to 30 bars, each limit from 10 to 90. For a trend shift, the period is limited to the range of 220, and both boundaries to the range of 3070.
By default, the new card lists the period 14, the upper boundary 70, the lower boundary 30, and the exit conditions. These values describe the form and are not a recommendation.
Select the signal condition
The following rules apply when the Reverse is turned off.
When you leave the channel
Long signal: RSI moves from top to bottom or below.
Shortcut: RSI moves down to the upper limit or above it.
When you get back to the channel
Long signal: RSI rises from the area below the lower boundary to or above it.
Short signal: RSI descends from the area above the upper boundary to or below it.
By the change of trend
The indicator takes into account which RSI boundary the last one reached. A long signal occurs when the RSI becomes significantly higher than the upper limit after reaching the lower limit. Short when the RSI becomes significantly lower than the lower limit after reaching the upper limit. Just being inside the canal or touching the border is not enough.
Check the role and reverse
The reverse switch changes the direction of the signals in places. The signal in the entry block must match the direction of the task. In the exit block without reverse, the long closes on the short signal, and the short closes on the long.
To exit, select the action in the When the signal is received field. The shutdown, taking into account the deviation, depends on the configuration and the type of robot. The name of the regime does not guarantee a final profit after execution and expenses.
Keep the card and check the set of conditions. RSI filters are separate cards with their own conditions; the presence of RSI among filters does not replace the addition of an entry or exit indicator.
For more information on the robot's storage and reaction, see ISignal. — The ISignal instructions The RSI signal does not mean that the order has been accepted or executed on the exchange.