RSI Threshold Entries with Fixed Stops, Targets, and Daily Closeout

Summary

This automated system uses a 14-period RSI on closing prices. It enters long when RSI crosses above 30 and short when RSI crosses below 70, and only opens a new position when flat. For each position, it sets a fixed price-distance stop of 100 points and a target 150 points from the average entry price. The strategy also attempts to close all positions at 15:25 to avoid holding overnight.

The document provides a ten-minute BTC/USDT futures backtest configuration for a one-week period, but no performance figures. Despite the description of multi-level risk controls, the source shows a single stop and target per position. Fixed distances may not suit changing volatility, RSI signals can lag, and relying on one indicator may miss other market conditions. The specified closeout uses the script’s current time, which may not align with historical bar times in a backtest, so its practical behavior needs scrutiny.

Key ideas

• The system enters long on an RSI cross above 30 and short on a cross below 70.
• It opens trades only when no position is active.
• Stops are 100 price points from average entry, and targets are 150 points away.
• A daily closeout is specified for 15:25, though the source uses current time for this condition.
• The brief BTC/USDT backtest configuration includes no reported performance results.

Tags

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