The higher-timeframe RSI acts as a trend filter, enabling long trades when above 50 and short trades when below 50. Lower-timeframe RSI crossovers trigger entries when crossing oversold or overbought levels, while exits occur on opposite crossover thresholds. Settings allow users to customize both timeframes, RSI lengths, and entry or exit levels. Executed trades are plotted directly on the price chart. The strategy contains no default stop loss.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Higher RSI Timeframe
timeframe
15
rsi1_tf
Higher RSI Period
int
14
rsi1_len
Lower RSI Timeframe
timeframe
1
rsi2_tf
Lower RSI Period
int
7
rsi2_len
Buy Entry Level
int
30
buy_entry_level
Sell Entry Level
int
70
sell_entry_level
Buy Exit Level
int
70
buy_exit_level
Sell Exit Level
int
30
sell_exit_level
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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