Forex trading strategy #51 (RSI Plus)
Submitted by User on March 10, 2012 - 08:46.
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 [email protected] if you are interested.
Crystal Markets
http://crystal-markets.blogspot.com/2011/11/rsi-plus.html
Edward Revy,
http://forex-strategies-revealed.com/
Copyright © Forex Strategies Revealed
sir plz confirm target and stop loss
Don't waste trader's money cause they can find much much better Free EA on NET
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
thank for sharing sir.... besides how long u using this system n what is the result...thank...
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/
Please Can you post the RSI alert shown in these pictures? It's better than normal!
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