RSI Ladder TP Strategy v1.0

Overview

This strategy is an RSI-based reversal entry system with a ladder-style take-profit mechanism.
It supports Long-only, Short-only, or Both directions and provides optional Average Entry Price, Stop Loss, and Take Profit reference lines on the chart.

Entry Rules

Long Entry: RSI crosses above the Oversold level (default: 20).

Short Entry: RSI crosses below the Overbought level (default: 80).

Optional: If enabled, the script will close the current position when an opposite signal appears before opening a new one.

Exit Rules (Ladder Take Profit)

Take profit is placed as a ladder using tpLevels and tpStepPct.

Example (default tpStepPct = 1%, tpLevels = 10):

TP1 at +1%, TP2 at +2%, … TP10 at +10% (relative to current average entry price).

Each TP level closes tpClosePct of the remaining position, meaning it scales out geometrically:

If tpClosePct = 50% → remaining position becomes 50%, then 25%, then 12.5%, etc.

Stop Loss

Optional stop loss is placed at slPct (%) away from the average entry price:

Long: avg * (1 - slPct%)

Short: avg * (1 + slPct%)

Visual Lines

Average Entry Price Line: current strategy.position_avg_price

Stop Loss Line: based on slPct

Next TP Line: shows the estimated next TP level based on current profit%

All TP Lines: optional (can clutter the chart)

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Recommended Use

• This strategy is best used on markets with strong mean-reversion behavior.
  

• For exchanges/bots that do not support hedge mode in a single strategy, run two separate instances:
  

• One set to Long Only
  

• One set to Short Only