This cTrader Relative Strength Index (RSI) is a popular momentum oscillator used in technical analysis to measure the speed and change of price movements, the strategy contains the full source code. It is for educational purposes to help traders with various levels of programming knowledge learn the following skills using Microsoft C# and the cTrader API.
This cBot was created by the ClickAlgo Strategy Building Tool in a few minutes with no coding.
How Does the cBot Open & Close Trades?
This strategy will open a buy trade when all two indicators show a bullish signal and sell trades will open when all indicators show a bullish signal. When the signal reverses and all indicators show a bullish or bearish signal the opposite trade will close automatically.
- Relative Strength Index 14 period, 1-hour timeframe, 70,30
- Relative Strength Index 14 period, Daily timeframe, 70,30
There are two thresholds used for the RSI indicator, when the price rises above 70, the symbol is seen as overbought and you should consider entering a sell trade or closing your buy trade. When the indicator price drops below 30 it is seen as oversold and you should consider opening a buy trade and closing a sell trade. This strategy will automatically open and close trades based on these trade rules.
Simple, Affective Strategy
This strategy may be simple, but the results are very effective, we advise that you modify the code base to add more risk management and additional features. Alternatively, you can download the Algo Strategy builder and do this with no coding experience.
Stop Loss & Take Profit Calculation
A standard stop loss and take profit as well as position size can be set from the cBots parameter settings.
You can add additional risk management and other trade rules yourself or by contacting our development team.
Built Using the Algo Strategy Builder
This cBot was built with no coding required using the cTrader Algorithmic Strategy Builder for the cTrader Platform.
How To View The Source Code
To view the source code for this cBot, you will first need to make sure you have downloaded and installed cTrader Desktop, you can also scroll to the bottom of this page for instructions on how to install the cBot. Once installed you will have the cTrader application open, you need to navigate to the Automate application and click on the name of the cBot, the source should show in the right-hand window.
If you need more help watch a video tutorial on how to use cTrader Automate.
How to Attach Indicator to Chart
You do not need to attach the Supertrend indicator to your chart when you run the cBot, but it is a good idea to visually see the indicator to check your trade rules for opening and closing trades and any risk management.
Learn Algorithmic Trading
In this instructional guide, we aim to assist you in acquiring the necessary skills to engage in market trading through automated trading strategies (cBots) using the cTrader Desktop trading platform. By the conclusion of this tutorial, you will gain the confidence to employ a cTrader cBot alongside the Algo application of cTrader, enabling you to automatically execute and handle your market orders. This course is designed to familiarize novice traders with the fundamental principles of algorithmic trading utilizing the cTrader platform.
Learn Microsoft C# for Algo Trading
If you are new to coding your cTrader cBot for automated trading the following Microsoft C# course will help you modify the starter kit cBot in this download to add new features for your own personal trading strategy.
Algorithmic Trading Facts
A significant number of traders venture into algorithmic trading with the misconception that they have discovered a foolproof strategy that guarantees effortless wealth. However, this notion is far from reality. It is crucial to read this article, as it can save you valuable time and money.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions, please first search our coding help forum for the answer, if you cannot find it, post a new question.
Need Coding Help?
We can help you modify this cBot for your trading strategy, contact our team for a quote.
Need a Broker
If you are still looking for a broker you can trust, look at our best cTrader broker site.
All cBot Code Examples
You can access all of our free cTrader cBot code examples here.
