Advanced system #3 (Neat entry: RSI + Full Stochastic)
Submitted by Edward Revy on May 13, 2007 - 15:40.
Current strategy has won the hearts of many Forex traders. And why not when it has a great winning potential.
Strategy requirements/setup:
Time frame: daily
Currency pair: any
Trading setup: SMA 150,
RSI (3) with horizontal lines at 80 and 20,
Full Stochastic (6, 3, 3) with horizontal lines at 70 and 30.
Trading rules:
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Doesn't the 2nd rule require the RSI to drop below 20 (for a buy signal)?
This has not happened yet.......
Chris
Chris,
As you can see in the GBP/USD Daily charts, price is above SMA150, so there we have the buy filter.
Then, the 28th, RSI was below 20, that gave the first signal.
Then, the 29th, Full Stochastic crossed below 30, giving the final signal to BUY at the close of that bar. As Edward mentioned before, at that point it doesn't matter if RSI is above 20, the signal was there just one day before, I have a limit of three days between those signals to consider them valid, this was only one day apart so I consider it a very good signal.
The price reached to more than 140 pips on the 31st starting from the buying price at the closing the 29th bar where the BUY signal fired.
I would like to Upload the chart but for some reason I can't.
Regards,
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Haydel
It would be nice to close this thread and let the other, in the newer forum, be more active. Two places to comment this great strategy can be confusing and the newer forum works in a better way.
http://forums.forex-strategies-revealed.com/advanced-system-neat-entry-t...
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Haydel
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