How it works: Prices are divided into grids, or trade zones, that are based on RSI levels. Buys will trigger when the RSI crosses into a higher zone, after descending. Sells will trigger when the RSI crosses into a lower zone, after ascending. After triggering, a new signal will not be produced until the RSI progresses into better zone.
Standard Settings:
RSI Length
Number of Grids
RSI Type: Standard RSI or Jurik RSX (based on Everget’s formula)
Show All Grids
Experimental Features (Adjust in settings menu):
No Trade Zone: RSI Levels where no trades will be signaled. Adjust to prevent over-buying/selling in narrow markets. Default: 35-65: No Trade Zone (40-60)
Aggression Level: Increase aggressiveness to stack buys/sells at extreme RSI levels: Aggression = high
Aggression = low
Market Direction: If market is trending up, the bot will skip every other sell ( = more buys than sells). If down, will skip every other buy (more sells than buys). Default: neutral. Market Direction: down
Market Direction: neutral
Notas de Lançamento
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Removed offsets for plots
Added buy and bell signals at upper and lower limits
I've never used 3commas, but I think this would be more comparable to their manual grid bot.
DEAD_HUNTER
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This is outstanding work, however, I must ask you. Can you explain in detail how it works? I am trying to understand it by looking at the code because I want to create this indicator in Python, but its a bit hard to interpret.
The grid interval (GI) is calculated based on the number of grids. The index of the array corresponds to each grid level.
Grids are stored in an Array at each Grid Interval (GI).
Buys are triggered when RSI crosses over a gridline from a lower grid. This is really “crossover” statement, but Pinescript does not allow crossover or crossunder inside for loops. (Sells are reversed).
The Get_BuyLine_Index () => function iterates through each grid until a crossover is found. If so, the index is returned (>0).
A python version would be interesting. You can PM me directly.
Mr_Wilson_RPM
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Thanks Mates. Great indicator.
pinkfrog
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Looks like the "direction" parameter needs manual adjustment. But since the trend is identified beforehand, what's the benefit of using a grid strategy?
xxattaxx-DisDev
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@pinkfrog, This is just a framework/concept for range trading. Script is open source so users can adapt and automate their own strategies (e.g. add a custom directional component).