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Re: RSI Indicators for MT4

Banzai, Fri Jul 17, 2020 6:26 am

I surf around and found this potential RSI divergence trading strategy.
Released date: July 14th, 2020
Timeframe: any; scalpers should choose M5
Pairs: any
It's not a holy grail because banks spike up and down and hit our stop losses all the time.
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The strategy is based on Divergence in different way

So what we gonna need with this strategy two indicator
1) Zig Zag with Depth 50
2) RSI period 140

the strategy is simple and very profitable with more than 75%winratio and 1:2 risk reward ratio
Image
Buy Setup:
1) Wait for the price to break the last bottom, the zigzag indicator make it clear
2) Next the rsi need to make a divergence (higher high) if not then we will not trade
3) after the rsi is making a divergence we wait for the price to close above the latest low then we take a trade and we put the sl and tp at the latest high
Please see the pictures to understand more this strategy
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Image
Sell Setup:
1) Wait for the price to break the last top, the zigzag indicator make it clear
2) Next the rsi need to make a divergence (lower low) if not then we will not trade
3) after the rsi is making a divergence we wait for the price to close below the latest high then we take a trade and we put the sl and tp at the latest low
Please see the pictures to understand more this strategy

Use the strategy with correct risk management and risk only 1% to 3% per trade
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He/she said, if there's no divergence, then don't trade.
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