Close outside Bands system

This is a counter-trend system that attempts to fade a strong move, in hope that it reverts back to the mean.

Takes multiple positions.

Long entry

If close crossed below the 20-bar Lower Bollinger Band within 3 previous days (setup), today's open is below the setup bar's close, and 4-bar RSI is less or equal to 40, buy at market next bar.

Short entry

If close crossed above the 20-bar Upper Bollinger Band within 3 previous days (setup), today's open is above the setup bar's close, and 4-bar RSI is equal to or above 60, short at market next bar.

Exit

Exit each position after 10 days.