RSI Failure Swing Strategy (C#)

RSI Failure Swing is a classic reversal technique where the RSI forms a higher low in oversold territory or a lower high in overbought territory. This failure to reach a new extreme often precedes a change in trend. The strategy buys when the RSI holds above its prior low and then crosses back above 30, or sells when it fails to exceed a prior high and crosses below 70. A percent stop limits downside, and positions close when RSI crosses the opposite level.

• Entry Criteria: indicator signal

• Long/Short: Both

• Exit Criteria: stop-loss or opposite signal

• Stops: Yes, percent based

• Default Values:

• CandleType = 15 minute

• StopLoss = 2% [*]Filters:

• Category: Reversal

• Direction: Both

• Indicators: RSI

• Stops: Yes

• Complexity: Intermediate

• Timeframe: Intraday

• Seasonality: No

• Neural networks: No

• Divergence: No

• Risk level: Medium