That said, I am currently testing the RSI signal generator. I want it to buy/sell fast on sudden, pronounced movement (spike) but not necessarily on more gradual movement (trend). I also want it to recover as soon as possible from an 'out of trade range' condition. Toward that end, I am using RSI30 with 10% & 90% thresholds and the minimum drop settings allowed. The bot is making decent trades with these settings, but as I learn to use it better, I hope to refine that.
Sean, are you using 0.9 alpha or 0.8 - I'm still using 0.8, I didn't get on board soon enough to get in on the alpha testing. When you say minimum drop settings, are you referring to the profit and drop safeties? I think I'm coming to the same conclusion, the closer these are to the exchange fee (ie 2 times instead of the 6 to 12 mentioned in the setup instructions), the more likely it is to execute an order that ends up profitable more often.
While watching for a few hours, using RSI 30 with 30/70 and 60 second interval, a setting at 2 times the rate would have executed 3 times with a profit of approximately 0.4% for each trade, while a setting at 5 times would have executed a buy order, but never a sell.
Would love to compare notes and see how different approaches affect the results.
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