Strategy tutorial: Bullmarket dip buys on RSI

Theoretically, there is a higher chance of price rebounding upwards in a bullish trend when RSI dips, than when there is a bearish trend. This strategy aims to buy on low RSI only when the higher timeframe trend is up.

For this strategy, we will use the VIDYA indicator on a 4h timeframe. If the price is above VIDYA we assume the price is trending up and we want to buy dips based on RSI.

This is how we start building the strategy with the bull check in StalexBot:

Now we know the chart according to our theory is bullish, next we think of which dip we want to buy. For this strategy, I want to buy when the RSI on the 5m chart dips below 30:

This is our buy path done. Buy when the RSI dips below 30 and the high timeframe check is still bullish. That's when we add in the buy tile. We will add a stoploss at -5% and a TP at 10% in the buy tile:

As an extra sell signal, aside from the TP and SL, we set a 4h close below the VIDYA, our bull check, to be a sell signal. The signal for this is simply 1H candle close is lower than 4h VIDYA:

To finish off this new sell path, we add a sell tile at the end, instructing our strategy to sell if this condition is true.

The last step is to select on which coins you want this strategy to run. You can do so in the markets tab. Either select coins manually, or use automatic coin selection. An article about automatic coin selection is recommended below.