Scanners Strategies

RSI Reversal

The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.

Order Type

CNC/NRML

Position Type

BUY

Time Frame

hour

Entry Conditions

RSI(14,0) crosses below 30

BUY 1 share when RSI(14,0) crosses below 30 at hour candle interval using Candlestick chart chart. Enter trade between 00:00 to 23:59

Exit Conditions

SELL 1 share at stop loss % of 1 or target profit % of 2.8 at hour candle interval using Candlestick chart chart.

Stop Loss

1

Target Profit

2.8

Stocks