Example J1: One oscillator line used as signal
This is not a ready-to-use trading strategy. A trading strategy requires adjustment to the timeframe and symbol, along with thorough backtesting. The example is intended as a foundation for your own custom strategy and to help you get familiar with the Expert Advisor Builder web application. To import and use an example, please follow the instructions provided here.
Description
This example generates signals from RSI oscillator values crossing the 70 level, identifying overbought conditions. Unlike trend indicators that follow price, oscillators measure momentum and extremes, providing different signal types. The visual display shows RSI values and crossing points clearly.
Oscillator signals often contradict trend signals, identifying potential reversals rather than continuations. The 70 level represents statistical overbought conditions where upward momentum may exhaust. This contrarian approach suits range-trading strategies where extremes reverse.
Single oscillator strategies teach momentum concepts essential for understanding market dynamics. RSI's bounded 0-100 range makes interpretation straightforward, ideal for learning oscillator-based trading.
Recreate the Example
You can either import this example directly or set it up manually. To manually replicate the trading module, make sure a newly added module includes the following key settings and that the professional mode is activated:
Trade Basics
- Operation type = Long signals only drawn
- General signal visualization = On
Signal Generation - Indicators - RSI
- Signal in use = On
- Signal used for = Entry
- Selected indicator = RSI
- Value condition = Cross Limit 1
- Value limit 1 = 70.00000000
- Draw in chart = On
- Drawing slot = 1
Screenshots
