RSI Revolution Trading Strategy | NoCoding | with AlgoBuilderX

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The cBot utilizes a strategy based on the Relative Strength Index (RSI) indicator to identify trading opportunities both in overbought and oversold market conditions.

Indicators Used:

RSI Fast and Slow: Two RSI indicators with different observation periods, one fast and one slow, capture price variations at different time intervals.

Filters:
Time Filter: A time filter set to specify the time windows during which the cBot is allowed to trade, optimizing trading activity based on periods of high liquidity or volatility.

Spread Filter: A spread filter applied to ensure that trading conditions are favorable and the execution cost of trades is acceptable.

Martingale Strategy: Utilization of a risk management strategy based on doubling the position size in case of losses, aiming to progressively recover losses.

Entry Conditions:
Buy Trades: The buy signal is generated when the RSI Fast is above the RSI Slow and both RSI indicators are below the oversold line. Additionally, the current spread must be lower than the one specified in the parameters.

Sell Trades: The sell signal is triggered when the RSI Fast is below the RSI Slow and both RSI indicators are above the overbought line. Again, the current spread must be lower than the one set in the parameters.

Additional Notes:
The cBot uses a combination of technical analysis and market filters to identify favorable trading opportunities.
The martingale strategy may increase risk exposure and requires careful management of capital and position sizes.

Risk Warning:
It is advisable to use the cBot cautiously and fully understand the implications of the martingale strategy on risk management and position sizing.

If you want to buy the .algo and .abx of this cBot CLICK HERE
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To create the cBot I invite you to watch this video I made on youtube: