OPEN-SOURCE SCRIPT
Delayed RSI Strategy
This strategy uses a 21 period RSI with an overbought (RSI indicator
is greater than) level of 60 (user defined) to determines long entries and an oversold
(RSI indicator is less than) level of 40 (user defined) for shorts. It introduces a bar delay that starts
counting when the RSI < Oversold or RSI > Overbought conditions are true, delaying the entry with
the amount of bars determined by the user. The trading logic can be reversed, which seems to work better.
is greater than) level of 60 (user defined) to determines long entries and an oversold
(RSI indicator is less than) level of 40 (user defined) for shorts. It introduces a bar delay that starts
counting when the RSI < Oversold or RSI > Overbought conditions are true, delaying the entry with
the amount of bars determined by the user. The trading logic can be reversed, which seems to work better.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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