Forex Stochastic RSITrading Strategy
Forex Stochastic RSITrading Strategy:
SET UP YOUR CHARTS:
1. Open a EUR/USD candlestick chart with a white background.
2. Add a moving average of 7 Exponential, Close. Change the color of the line
to black.
3. Add your Bollinger Band and make the middle line 18 Exponential, Close,
color red.
4. Add another moving average of 50 Exponential, Close, any color.
5. Add your Chaos Awesome Oscillator (or Macd Histogram or Line), then the
Momentum indicator, and then the Stochastic RSI Oscillator (or the RSI and
the Slow Stochastic set at 14,5,3, E).
6. Optional: The Support and Resistance Indicator
Here’s the strategy:
Going LONG:
Enter a long position when the black 7 EMA has crossed up through the red 18
EMA. At the same time, the Chaos and Momentum indicators should be
approaching or crossing their zero line, going up. The StochRSI or SS should be
coming up from the bottom heading up towards it’s 50 line.
Going SHORT:
Enter a short position when the black 7 EMA has crossed down through the red
18 EMA. At the same time, the Chaos and Momentum indicators should be
approaching or crossing their zero line, going down. The StochRSI or SS should
be coming down from the top heading down towards it’s 50 line.
When to take your profit:
Simple…when your Chaos Awesome Oscillator turns a different color!
Here’s a screenshot of “Trading System ” in the 10 minute chart:
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 Stochastic RSITrading Strategy?
- Download Forex Stochastic RSITrading 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 Stochastic RSITrading 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”.
