Hi guys! New here. I am trying to test a simple RSI strategy on Binary options in M5 TF but I think there is something wrong here.

Strategy is to buy/sell when RSI is higher/lower than overbought/oversold at the CLOSE of the m5 bar.
As I have programmed it elsewhere and it gave much different results.

function run()
{
StartDate = 2015;
EndDate = 2016;

BarPeriod = 5;

vars C0 = series(price());
vars RSI0 = series(RSI(C0, 14));
var Threshold = 70;
var Threshold2 = 30;
ExitTime = 5;

if(crossUnder(RSI0,Threshold2))
enterLong();
else if(crossOver(RSI0,Threshold))
enterShort();
}




Have a nice day!

Welcome duncan90! If you want Close, you'll need to use priceClose().

HTH.

Thanks so much for pointing that out! Im glad to join this community.

I just realised that there is a binary flag that I can set to. Is this the right way to set a flag?

And also will optimize() work in Binary? Currently it does not work for me.



function run()
{
set(BINARY);
//WinPayout=0.8;
//Spread=0;
StartDate = 2015;
EndDate = 2016;

BarPeriod = 5;

// calculate the buy/sell signal
vars C0 = series(priceClose());
vars RSI0 = series(RSI(C0, 14));
var Threshold = optimize(70,70,80,1);
var Threshold2 =optimize(30,30,20,-1);
ExitTime = 2;

if(crossUnder(RSI0,Threshold2))
enterLong();
else if(crossOver(RSI0,Threshold))
enterShort();

}

Yes, that's how to set a flag. Look also at the PARAMETERS flag, and the workshop discussing optimization.

HTH.

Appreciate your help man! I will definitely go through it again.

You need to set:


WinPayout = 80;
LossPayout = 0;