APIBridge RSI Strategy

Strategy Premise

The Relative Strength Index (RSI). Is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Increasing Rsi shows increasing bullish momentum. Decreasing Rsi shows increasing bearish momentum. We take RSI upper bound as 70 to indicate bullish momentum and the RSI lower bound as 30 to indicate bearish momentum.

Strategy Logic

Long Entry: When RSI goes below 20, send LE.

Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and RSI goes above 70, send LX and SE

Short Entry: When RSI goes above 70, send SE

Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and RSI goes below 20, send SX and LE


RSI Strategy Parameters for TradingView Charts

1.Rsi Length(Mandatory): This is the number of bars used to calculated rsi Ex: 14 previous 14 candles are used to calculate RSI

2.Oversold(Mandatory): This is used to specify oversold of RSI

3.Overbought(Mandatory): This is used to specify overbought of RSI

4.Backtesting : Use this to backtest the strategy between Starting and Ending Date and time , it can also be used to set trades in future time

5.Alert_Message : Need to copy while creating alert into Message Box

6.Trade Setup : Intraday / Positional (Selecct accordingly)

7.Start Time Stop Time (Session 1) : Intraday / Positional start time and end time of trade for session 1

8.End Session 1 : Define time to exit any existing position taken in session 1 so that exchange charges will not apply

9.Use Second Session : Check this to use second intraday session

10.Start Time Stop Time (Session 2) : Intraday / Positional start time and end time of trade for session 2

11.End Session 1 : Define time to exit any existing position taken in session 2 so that exchange charges will not apply

12.Use Target : check if you want to set required target if not cheque will not applicable

13.Use StopLoss : Cheque if you want to set stop loss if not cheque will not applicable

14.Trailling Stoploss : Cheque if you want to set trailing stop loss if not cheque will not applicable

15.Point Or Percentage For TG SL : Use Points or Percentage as per your choice

16.Target : Set as per the selection of (Point Or Percentage For TG SL)

17.Stop Loss : Set as per the selection of (Point Or Percentage For TG SL)

18.TSL_Type : Select as per your logic in %/ATR/Points

19.TSL_Input : Set in case you select %/Points in TSL_Type

20.ATR Length : Set as per your logic if you select ATR in the field of TSL_Type

21.ATR_Mult : Set as per your logic if you select ATR in the field of TSL_Type

22.Segment : Select segment of your logic EQ/FUTIDX/FUTSTK/OPTIDX/OPTSTK/FUTCUR/FUTCUM (Used in case of option / Futures )

23.Select Expiry Date : Select the expiry date of your trade as per the segment you selected (Used in case of option / Futures )

24.Select Expiry Month : Select the expiry Month of your trade as per the segment you selected (Used in case of option / Futures )

25.Year : Select the expiry Year of your trade as per the segment you selected (Used in case of option / Futures )

26.Quantity : Enter the quantity in which you want to trade (Used in case of option / Futures )

27.Product Type : Select MIS/Normal/ CNC as per your logic (Used in case of option / Futures )

28.Order Type : Select Market/Limit as per your logic (Used in case of option / Futures )

29.Strategy Tag : Enter the value in case you are using webhook / advance template in APIBridgeTM

30.Lotsize : Enter the lotsize as per your lotic and quentity selection (Used in case of option / Futures )

31.STEP (OTM/ATM/ ITM ) : Select OTM(+1)/ATM(0)/ ITM (-1) as per your logic works in case of options only

32.DIFFERENCE_BETWEEN 2 STRIKE : Select difference of 2 strikes you have used in APIBridge symbol setting list, like for Nifty 50 BankNifty 100

33.APIB Port : Set as per provided to you by Algoji in case of webhook / advance templet

The Segment full form is given below
EQ Equity
FUTIDX Future Index
FUTSTK Future Stock
OPTIDX Index Option
OPTSTK Stock Option
FUTCUR Futcur Currency
FUTCUM Future Commodity