RSI Reversion

The RSI Reversion strategy uses a single instance of the Relative Strength Index indicator.

Features
Although this is a very basic trading strategy, the Trade Timing rules are set to "Close and Reverse" on opposite direction signals. This means, if it already has opened a long position, and RSI falls from above to below 70 (short signal), then the strategy will close the existing long position and open a new short position. The consequence is that you will have a position open in the market most of the time - unless it gets taken out by the SL or TP.

Indicator description: Relative Strength Index (RSI)
RSI is a price-following oscillator that ranges from 0-100. Basically, RSI is a momentum indicator which compares the relative size of an asset's recent gains to its recent losses and thereby seeks to determine if the asset is either overbought or oversold. An asset is commonly deemed to be overbought once the RSI goes above 0.70, whereas it is deemed oversold once the RSI reaches 30.

Strategy Description
This strategy seeks to capture market reversals. The strategy is simple: when the RSI value crosses from above to below the 70 threshold it will open a short position. Conversely, when the RSI value crosses from below to above the 30 threshold, it will open a long position.

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