# RSI(2) on SPY (RSI Trading Strategy S&P 500)

Last Updated on January 12, 2022 by Oddmund Groette

Criteria for entry:

- If RSI(2) is less than 15, then enter on the close.
- Exit on close if today’s close is higher than yesterday’s high.

Here is the accumulated profit curve from 2005 until September 2016:

The average per trade is 0.46%.

————————————–

If you would like to have the Amibroker and Tradestation code for this strategy plus 70+ other free trading strategies published on this website, please click on this link:

For more trading strategies, please click here:

- Free trading strategies
- Monthly trading edges (subscription service)

** **

1. get SPY

2. ???

3. then buy SPY

4. profit

Hi, I changed my post a bit to make it understandable.

Try enter/exit tomorrow on today Close price limit

Is the 2 period RSI on SPY below 0.15 or 1.5 or 15? Just looking at the last 3 years of SPY chart, I don’t see many entries if it’s near 0, ie, 0.15? In fact I am not able to show a value lower than 1 in a ToS chart. Thanks!

Hi,

I wrote 0.15, but you are right: RSI varies between 0 to 100. If it’s below 15 then go long on close.

The reason I wrote 0.15 i that I use numbers a bit different….. But 15 is the correct number 🙂

Hi Oddmund,

New to this as a hobby and am just getting into the space here. How do you “use numbers a bit different”?

Hi,

Not exactly sure what i meant here. But 15 is the correct threshold i used here.

I tried to build this strategy, also.

But I cant’t follow your results…. I got an average gain of 0,1% for the profits….. And some buy and hold would bring much better results in my backtests…. 🙁

Can you give some more details when you close your trade?

How many trades do you get for each month or each year?

Hi,

Perhaps you have RSI calculated wrongly? Exit is if today’s close is higher than yesterday’s high. If SPY yesterday was max at 237.54 and SPY today closes at 237,85, then exit.

dear Grotte

Searched many places formula to calculate RSI(2).could not get

can you share the formula

thank you

http://www.investopedia.com/terms/r/rsi.asp