Scaling Out based on Indicators


I see this is a well-covered topic, and I did a comprehensive search but did not find anything suitable, it was mainly based on $ or % amounts.

I am running a simple RSI strategy,

Buy:  RSI(5)  < 30;

Sell 1: RSI(5) > 55
Sell 2:  RSI(5) > 75

I am looking for a simple scale out option, that I can sell 50% at sell1 and remaining 50% at sell2

Can anyone help point me in the right direction?


See Scale In/Out Examples.

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Thanks, I did see those and worked through, and maybe it is my inexperience but could not see how they would be applied to scaling out based on different technical triggers, the examples revolve around scaling out based on set % profits, and or losses.

Something like this would be perfect:

FirstProfitTarget = 10; // profit
SecondProfitTarget = 20; // in percent
TrailingStop = 10; // also in percent

If it was like:

FirstProfitTarget = Selltrigger1; 
SecondProfitTarget = Selltrigger2;
TrailingStop = 10; // also in percent

In Example 4 modify the exit lines from profit targets to your technical triggers.


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