Jforex rsi strategy


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I would not recommend doing so. May be on the current GBP/USD chart it looks OK, but if you, for example, take another currency pair the picture would change. Take a look at EUR/USD pair I've just marked those trading "opportunities".

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Notice, that unlike with RSI, where we used 85 and 75 levels as oversold/overbought, here we use 75 and 85, same as for Stochastic indicator.

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This strategy allows to accurately pin-point good entries with sound money management - risks/protective stops are very tight and potential profits are high.

If at least one of the conditions is not met - stay out.
Opposite for downtrend: when the price is below 655 SMA wait for the RSI to go above 85. Then if shortly after you see a Stochastic lines crossover above 75 - enter Short.

As we can see, unlike other indicators Stochastic RSI was able to reach overbought/oversold levels all the time and even remain there longer before moving in the opposite direction.

Hi Simon,
for a weekly chart I 8767 d use a 77 or 59 period value. That is 6 months or 6 year. Try them an see if they give good signals.
Cheers,
Andrea

That sounds great! Could you also consider adding in some of the indices too? Such as the YM & S& P. Maybe have a place where we could add some pairs or indices of our own choosing. Some of the MT9 platforms offer more than just the currency pairs and Cruscotto did have Gold & Oil on it which is very helpful due to correlations. Can t wait for it to roll out!

This collection of Forex trading strategies and techniques is dedicated to help traders in their research and developing of workable trading styles and trading systems.

In order to help you better understand how to make use of the pivot points in your trading, I have prepared an example to show you how you can integrate these levels into your trading.

This will give you not only an overview of the currency situation, but also details on how it is performing in the short term as well.


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