UPDATE 1: if you are running this setup using 3X tokens you must increase your SL accordingly. 3X tokens are three times more volatile thanks to the variable leverage applied so if the asset only moves 1% the 3x token might reach a move of “up to 3%” in the same direction.
UPDATE 2: if you watched the video in many cases is necessary to have a more relaxed SL to allow the exit to do its job. If you want the strategy to perform like in the video backtest you might need to allow a larger SL at the cost of an increased level of risk.
UPDATE 2: good news: we no longer need to manually backtest, we can use the RSI trendlines with breakouts script we built on signal school. The bad news is that the performance is not great in the long run so I think it was well worth it to backtest it properly before FOMO-ing in!
I’m going to be sharing a series of advanced setups for VIP members. Since the setups are fully automated you will require to have a 3Commas account and a TradingView subscription that offers alerts.
The first setup is called the RSI Breakout strategy and in the VIP content below you’ll be able to find the instructions to set it up with a bot using 3x leverage tokens or any futures account. I’ll also provide instructions if you don’t have access to hedge mode in your exchange to prevent clashes of concurrent long/short positions.