RSI LE

Definition

When the RSI value crosses above the OverSold level, the strategy generates a long entry order for the next bar at open. The number of bars used to calculate the RSI value and the OverSold level can be changed.

Usage

Long entry based on an RSI calculation.

Default Inputs

Price - price value to consider for calculating RSI..
Length - number of bars used to calculate the RSI value.
OverSold - value at/below which the symbol is considered oversold.

Note: Use RSI SE for entering a short position.