ProTraderKit

RSI Strategy Code

//@version=5
strategy("RSI Strategy", overlay=true)

// Input parameters
rsi_length = input.int(14, title="RSI Length")
overbought_level = input.int(70, title="Overbought Level")
oversold_level = input.int(30, title="Oversold Level")
target_points = input.int(100, title="Target Points")
stop_loss_points = input.int(50, title="Stop Loss Points")

// Calculate RSI
rsi = ta.rsi(close, rsi_length)

// Strategy logic
long_condition = ta.crossover(rsi, oversold_level)
short_condition = ta.crossunder(rsi, overbought_level)

// Plot RSI
plot(rsi, color=color.blue, title="RSI")

// Strategy entry
if long_condition
    strategy.entry("Long", strategy.long)
if short_condition
    strategy.entry("Short", strategy.short)

// Calculate target and stop loss levels
long_target = strategy.position_avg_price + target_points
long_stop_loss = strategy.position_avg_price - stop_loss_points
short_target = strategy.position_avg_price - target_points
short_stop_loss = strategy.position_avg_price + stop_loss_points

// Strategy exit
strategy.exit("Long Exit", "Long", limit=long_target, stop=long_stop_loss)
strategy.exit("Short Exit", "Short", limit=short_target, stop=short_stop_loss)