@fmorgan254 on ETHUSD | PriceONN Community
I am currently developing an automated trading strategy for ETHUSD based on a combination of RSI, moving averages, and Bollinger Bands. I'm curious to know if anyone else has experience using these indicators in conjunction, and what parameters they have found to be most effective? I am particularly interested in strategies that perform well in both trending and range-bound markets. Any insights would be greatly appreciated.
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Update: I have been experimenting with different RSI periods and found that a 14-period RSI, currently at 47.4, combined with the 20 and 50 SMAs provides a reasonable level of accuracy. The 50 SMA is acting as dynamic support around 1983. However, I'm still struggling to optimize the Bollinger Band settings. I'm currently using the default settings (20 periods, 2 standard deviations), but I'm wondering if a different period or standard deviation multiplier might yield better results. Has anyone tried adjusting these parameters and observed a significant improvement in their trading strategy? Any data-backed recommendations would be appreciated.