Auto-Close Profitable Positions Based on RSI Levels

williamkirin

Is there a cBot available that can automatically close a profitable 'BUY' position when the RSI exceeds 70, and a profitable 'SELL' position when the RSI falls below 30?

Sophia

Try this: https://clickalgo.com/relative-strength-index-robot

or download the source code for the cBot below and contact [](development) to make changes.

https://clickalgo.com/relative-strength-index

williamkirin

Hi Sophia,

I have downloaded the trial version of the "cTrader Relative Strength Index Strategy" but I'm a little unsure about configuring the settings in the parameters section.

Specifically, I'm using a H1 timeframe for EURUSD, and I'd like the cBot to automatically close any existing 'BUY' positions when the RSI reaches 75, and 'SELL' positions when the RSI drops to 25.

I have attached the cbotset file below for your review. Could you please assist me in ensuring that the settings are configured correctly?

Thank you.

clickalgo-classic-rsi-strategy-eurusd-h1.cbotset

885B

Mike

According to your settings, at the close of the candle, the following will happen as you have on retracement set to false.

Closing Buy Trades

if RSI value < lower threshold of 25

if there is no buy trade open
   open buy trade
   close sell trade

if RSI value > upper threshold of 75

if there is no sell trade open
   open sell trade
   close buy trade

If there is no sell trade open, a buy trade will not close and visa versa, only a single trade will close as the strategy allows one trade to be open at any time.

If you wish to modify this cBot, you can purchase the source code and send a request to the development team.