Forex RSI 4H Method Trading Strategy
Forex RSI 4H Method Trading Strategy:
This Trading system is based on the RSI indicator on 4H chart and Daily Chart.
Daily chart determine the trade. If RSI indicator (8) periods on daily Chart >50, only buy, ifRSI indicator (8) periods, on daily Chart <50 only Sell.
Tradind Rules for 4H RSI Trading Method MultitimeFrame
Time Frame 4H and daiy.
Currency pairs: any,
Forex indicators:
RSI Indicator (8) periods.
EMA Channel formed by two exponentials moving everages 25 periods (high and low).
Long entry:
Buy only when RSI indicator is above level 50 at Daily TimeFrame
Candle closed above 25 EMA and the last two candles must bull candles (blue candles).
RSI 8 at 4hr must be above level 50.
Short Entry
Sell only when RSI indicator is below level 50 at Daily TimeFrame
Candle closed below 25 EMA and the last two candles must bear candles (blue candles).
RSI 8 at 4hr must be belw level 50.
Exit position:
Take profit Ratio 1.4 Stop loss.
Profit Target on the support and resistance lines.
Profit Target predetermined that depends by currency pairs.
Initial stop loss on the previous swing, after 40 pips in gain move stop loss at the entry point.
September 3rd, RSI 8> 50 on the TF Daily, only buy on the 4H TF.
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 RSI 4H Method Trading Strategy?
- Download Forex RSI 4H Method Trading Strategy.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 RSI 4H Method Trading Strategy?
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”.
