Bollinger Band and RSI Reversal Entries with Trend Filtering
Summary
This strategy uses Bollinger Bands and RSI to seek long or short entries near price extremes, optionally filtered by a long-term exponential moving average. Traders can choose a band-touch entry, which requires price beyond a band with RSI at an extreme, or a reclaim entry, which waits for price to return across the band while RSI moves back from its overbought or oversold threshold. A live-watch state flags less-developed setups near the bands, while confirmed signals govern entries.
Exits use percentage-based take-profit and stop-loss levels derived from the average entry price. The script also provides a dashboard for trend bias, band location, RSI state, and trigger levels, plus plotted signals and alerts. Although the description calls it a live crypto radar, the code itself does not restrict the traded market. No backtest or outcome evidence is provided, and intrabar calculation settings and execution assumptions may affect live behavior and historical comparisons.
Key ideas
- The strategy pairs Bollinger Band extremes with RSI thresholds to define touch or reclaim entries.
- An optional long-term EMA filter restricts longs to an uptrend and shorts to a downtrend.
- Live-watch conditions identify developing setups before the stricter confirmed entry rules are met.
- Take-profit and stop-loss levels are fixed percentages from the average entry price.
- The document provides no results demonstrating effectiveness, and execution settings can affect observed behavior.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.