Daily RSI Threshold Entries with Stop-Loss and Breakeven Rules

Summary

This expert-advisor description outlines a once-per-day RSI strategy with separate buy and sell signals. For a buy, RSI must be above 50 on the hourly timeframe, and the stop distance must satisfy a configured maximum. The stop is placed beyond the prior daily bar’s low for buys, with the sell rule described as the opposite. Position size is based on a selected percentage of free margin, while the take-profit target is three times the stop distance.

The rules also move a position to breakeven after price advances by at least the initial stop distance. A same-day open position suppresses further signals, while positions opened earlier do not. The document gives no market, sample period, backtest, execution assumptions, or performance evidence; it also leaves details such as the exact sell-side stop calculation and risk implementation unspecified. These omissions prevent assessing profitability or robustness from the description alone.

Key ideas

• The system uses hourly RSI relative to 50 as its directional entry filter.
• It permits at most one buy and one sell entry per day.
• The prior daily bar sets the stop reference, subject to a configured maximum stop size.
• The take-profit distance is three times the initial stop distance.
• Position sizing uses a percentage of free margin, and favorable movement can trigger breakeven management.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.