RSI Pivot Low Entries with an Overbought Exit and Tight Stop

Summary

This script turns confirmed pivot lows in the relative strength index into long entries. RSI is calculated over a 19-period lookback, and a pivot low is identified using two bars on either side. The strategy closes the long position when RSI reaches or exceeds 80, and it also submits a stop based on the prior close, set 0.5% below that close. RSI reference levels at 20 and 80 are plotted; a pivot-high signal is calculated but is not used for entries.

The page says it was backtested on BTCUSD on Bybit using a 155-minute interval, and the script specifies initial capital, commission, and slippage assumptions. It provides no performance statistics, so the backtest claim alone does not establish profitability. Pivot confirmation necessarily uses later bars, and the plotted marker is offset backward for display; live signal timing and execution should be assessed with that delay in mind. The page also cautions users to do their own research.

Key ideas

• Long entries are triggered by RSI pivot lows confirmed with two bars on each side.
• The script uses a 19-period RSI and plots reference levels at 20 and 80.
• Long positions close when RSI reaches 80 or higher, with an additional stop 0.5% below the prior close.
• The page reports a BTCUSD Bybit backtest at a 155-minute interval but gives no outcome statistics.
• Pivot confirmation and backward-offset chart markers can make displayed signals appear earlier than they are actionable.

Tags

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