OPEN-SOURCE SCRIPT
Updated

Grid Bot RSI

Grid Bot Simulator. Based on RSI levels.

How it works:
Prices are divided into grids, or trade zones, that are based on RSI levels. Buys will trigger when the RSI crosses into a higher zone, after descending. Sells will trigger when the RSI crosses into a lower zone, after ascending. After triggering, a new signal will not be produced until the RSI progresses into better zone.

Standard Settings:
  • RSI Length
  • Number of Grids
  • RSI Type: Standard RSI or Jurik RSX (based on Everget’s formula)
  • Show All Grids


Experimental Features (Adjust in settings menu):

No Trade Zone: RSI Levels where no trades will be signaled. Adjust to prevent over-buying/selling in narrow markets. Default: 35-65:
snapshot
No Trade Zone (40-60)


Aggression Level: Increase aggressiveness to stack buys/sells at extreme RSI levels:
snapshot
Aggression = high

snapshot
Aggression = low


Market Direction: If market is trending up, the bot will skip every other sell ( = more buys than sells). If down, will skip every other buy (more sells than buys). Default: neutral.
snapshot
Market Direction: down


snapshot
Market Direction: neutral
Release Notes
  • Removed offsets for plots
  • Added buy and bell signals at upper and lower limits

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.