Weekly Pivot Reversals with RSI Confirmation

Summary

This strategy uses the prior week’s high, low, and close to calculate a weekly pivot, first resistance, and first support. It looks for a reversal across the pivot: a bar opening below and closing above it signals a long, while the reverse signals a short. An optional RSI filter requires readings above or below a configurable threshold in the corresponding direction. The proposed exit levels are the first resistance and support, used as targets and stops.

The document explains the rules and discusses risks, but provides no performance results. Its published backtest settings specify ETH-USDT futures on Binance over roughly one year using daily bars; those settings alone do not establish profitability or validate the described focus on early-week intraday trading. The text flags false crossings, volatility, news, ranging conditions, and parameter sensitivity. The source also calculates second pivot levels but does not use them in its trade rules. It recommends testing and market-specific adjustments before live use.

Key ideas

• The weekly pivot is derived from the previous week’s high, low, and close.
• A close across the pivot after opening on the opposite side triggers a directional signal.
• An optional RSI threshold filters long and short entries.
• The strategy places targets and stops at the first resistance and support levels.
• The document identifies whipsaws, volatility, news, and sideways markets as risks.

Tags

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