Snake/RSI

Nov 30, 2019

This study is similar to my Snake study. The differernce is that instead of following a moving average, this "snake" follows a RSI closely looking for the best opportunities to buy/sell.

Dark red triangles at the bottom are buy signals with alerts of BUY ASSET. Dark red triangles to the top are sell signals with alerts of SELL ASSET.

Overbought and oversold are configurable as well as the length of the RSI itself.

Dec 1, 2019

Release Notes

Make this study more visual and seperated it from the main chart.

Refined equations and added "slither" mode

Slither mode allows the snake to buy and sell with a rapid swing algorithm that still produces profit while minimizing the whipsaw effect. Slither is disabled by default.

Dec 3, 2019

Release Notes

Fixed minor error on crossover analysis.

In regular mode, assets are only evaluated at the crossover points.

In Slither mode, assets are only evaluated in the appropiate RSI zone.

Slither operates OPPOSITE to regular mode.

Dec 5, 2019

Release Notes

Tuned the slither mode to allow an aggressive state vs a smoothed state to filter weak signals.

Dec 8, 2019

Release Notes

Added a sell failed assets (SFA) mode. SFA is only available in slither mode.

if SFA is Yes, then assets will be sold when they are between the lower boundry and upper boundry, and retrace towards the lower boundry.

Triangles for sells are now green for selling above the upper boundry and red when the asset retraces between the lower and upper boundries.

IMPORTANT: Not all coins are suitable for SFA.

Coins that have a high probility of crossing the upper boundry should NOT use SFA mode. BNB is an example of a coin that performs badly in SFA mode. SFA on these coins will cause more losses then gains.

Coins like BAT are an example of coins that do well with SFA. BAT has a history of crossing the lower boundry, then retracing before the upper boundry. Typically, BAT also trends lower the the initial purchase price, causing a loss. SFA mode allows the permature sell of coins like BAT at the best opportunity before retracement to a loss allowing break even or a small profit in most cases.

Dec 11, 2019

Release Notes

Separated aggressive mode from slither mode.

Tuned the smoothing effect to be more responsive without over responding to market conditions.