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Forex trading strategy #51 (RSI Plus)

Submitted by Crystal Markets

Today in this article I want to explain the use of RSI and Stochastic together for trend trading, trend confirmation and entry and exit.

Indicators:
- RSI 21 periods
- Stochastic 30,8,18
- Williams %R Default

4hour, 1hour and 15min timeframes should look like these:

The 4hour is the trend - here the RSI must be Below 50level to trade SHORT and Above 50level to trade LONG.

1hour is your confirmation. In a SHORT Trend, 1hr RSI must be below 50 and stochastic must be SELL direction too.

Your entry is with the williams %R getting to extreme counter trend. W%R must be at -20 for SELL and at -80 for BUY. Go for 30-50pips and your stoploss should be well directed it the 1hr RSI change or 1hr Stochastic changes you should exit your have a fixed 50pips Exit on stop.

I have also prepared an EA for this good trading plan. The EA cost $159.99 contact victor.fxwave@gmail.com if you are interested.

Crystal Markets
http://crystal-markets.blogspot.com/2011/11/rsi-plus.html

Please Can you post the RSI alert shown in these pictures? It's better than normal!

You could do some google search I use normal RSI, this particular one was a BUG on my computer and I lost it. I believe when you do some google search you can get one.

Crystal Markets
http://crystal-markets.blogspot.com/
http://crystal-fibonacci.blogspot.com/

thank for sharing sir.... besides how long u using this system n what is the result...thank...

I dont use it personally, its just a research work. when students come to learn about a particular indicator or combination of indicators, i give them a good idea of how to combine and start to work on a trading system. this is part of a research work

Don't waste trader's money cause they can find much much better Free EA on NET

sir plz confirm target and stop loss

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