Forex Advanced RSI Signals Trading System
Forex Advanced RSI Signals Trading System;
For a buy signal the RSI must be squeezed at the bottom of the indicator window (oversold).
We will check that there is an overall bullish trend on a longer time frame to allow a long entry remember the trend is your friend!
We are looking for the blue line to break out of the red channel and the black moving average.
This is the signal, if we have that and the thin turquoise line is pushing to the top then we have all the boxes ticked.The SELL signal: (the exact opposite)
In the above screen shot you can see I have marked two valid and profitable trades, both would have been worth over 100 pips easily, and both were picked up by the RSI very early on
The stochastics are what I use to confirm the trade, I look for a very similar pattern as on the RSI. In the screen shot below you can see a “perfect signal”. On average we should see at least 1of these signals per currency pair per week. In some weeks it could be as many as 3-5
Here we can see at the point I have placed the vertical line, the RSI is showing a valid signal for a short entry as explained previously. At this point we can see the stochastic (top indicator window)are falling away and are very tightly bunched, in a neat waterfall shape. This is exactly what we need to enter this trade.
Stop loss 30 pips.Profit Target 40 pips.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Advanced RSI Signals Trading System?
- Download Forex Advanced RSI Signals Trading System.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Advanced RSI Signals Trading System?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.