OPEN-SOURCE SCRIPT
ULTIME RSI Buy/Sell 70%- by Baptiste Impact trading
Conditions for Buy/Sell:
1: Do not take trades when the RSI curve is flat (even if there is an indication).
2: Place the stop-loss (SL) a few points above the relevant candle.
3: Use a 2:1 risk-reward (RR) ratio and set break-even (BE) at the entry price once RR1 is reached.
4: Take partial profit at RR2 with 50% closure and let the remaining position run. Cut if there is a change in direction.
Your indicator "Baptiste ULTIME RSI Buy/Sell 70%- Impact Trading" is an advanced tool based on the Relative Strength Index (RSI) designed to display buy and sell signals with specific crossover conditions and a cooldown logic to avoid consecutive signals. It includes:
Enhanced RSI calculated with configurable smoothing methods (EMA, SMA, RMA, TMA).
Trading signals based on bullish and bearish crossovers of the RSI with a signal line, integrating a 15-bar delay between signals to limit the frequency of alerts.
Customizable overbought/oversold levels with zone fill for clear visualization of market extremes.
Visual display of buy/sell signals with arrows and level lines, all presented in a separate window for better readability.
This indicator helps identify potential entry and exit points while reducing false signals through its cooldown logic.
1: Do not take trades when the RSI curve is flat (even if there is an indication).
2: Place the stop-loss (SL) a few points above the relevant candle.
3: Use a 2:1 risk-reward (RR) ratio and set break-even (BE) at the entry price once RR1 is reached.
4: Take partial profit at RR2 with 50% closure and let the remaining position run. Cut if there is a change in direction.
Your indicator "Baptiste ULTIME RSI Buy/Sell 70%- Impact Trading" is an advanced tool based on the Relative Strength Index (RSI) designed to display buy and sell signals with specific crossover conditions and a cooldown logic to avoid consecutive signals. It includes:
Enhanced RSI calculated with configurable smoothing methods (EMA, SMA, RMA, TMA).
Trading signals based on bullish and bearish crossovers of the RSI with a signal line, integrating a 15-bar delay between signals to limit the frequency of alerts.
Customizable overbought/oversold levels with zone fill for clear visualization of market extremes.
Visual display of buy/sell signals with arrows and level lines, all presented in a separate window for better readability.
This indicator helps identify potential entry and exit points while reducing false signals through its cooldown logic.
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