Oversold RSI Long Strategy with Fixed-Deviation Averaging Orders

Summary

This long-only SOL strategy uses a 4-hour RSI below 28 as its sole entry filter. After entering a base position, it can add up to five averaging orders when price falls by preset percentages from the base entry. The order sizes increase across the ladder, using defaults described as approximately 1.8 times the preceding rung. A fixed take-profit target is calculated from the position's average entry price.

The script provides concrete default ladder levels and sizes, a backtest date window, optional limit entry, webhook alerts, and chart displays for order levels and position status. It has no stop loss, and exposure is limited only by the base order and five configured additions; the document estimates that filling every rung would deploy about $20,633 under its stated defaults. This is a strategy specification, not evidence of profitability. Extended declines can leave the position open after all additions are used, and results depend on sizing, market behavior, and execution assumptions.

Key ideas

• The base long entry is triggered when the 4-hour RSI falls below 28.
• Five averaging orders use fixed price deviations from the original base entry rather than from the latest fill.
• The configured order sizes increase across the ladder, while the take-profit target follows the average entry price.
• There is no stop loss, and the strategy makes no additions below its final configured rung.
• The document gives default parameters and estimated maximum deployment but no performance results.

Tags

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