simple system: double rsi
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    simple system: double rsi

    i am going to share a simple double RSI trading strategy with you all.

    time Frame: 1hour
    currency pairs: EUR/USD,GBP/USD or any other volatile pair.

    indicators: RSI with Period (2) placed on RSI with Period (12)
    to setup rsi simply place the rsi(12) on your chart normally then drag
    the rsi again and place it on top of the rsi(12) and enter the setting
    of two.
    nb: This works in MT4 platforms.

    rules:
    (1) Enter Buy When Rsi(2) cross Rsi(12) from below and heading upward
    (2) Enter Sell when Rsi(2) cross Rsi(12) From above and heading downward.

    take Profit: 20 pips
    stop loss: 30pips or Swing High /Low



    this system has so many potentials because it can be used on 5mins,
    10mins,15mins,1hour,4hours and daily chat with eur/usd and Gbp/usd.

    sometimes the rsi cross would occur but before the candle formation
    finishes the cross would disappear.

    thanks

    source: internet
    only friendly sharing

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    thanks for the strategy, It helped me alot

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    Quote Originally Posted by Vin3cent View Post
    thanks for the strategy, It helped me alot
    Just stick to one strategy. Dont focus on others if you are using one. Using a lot of systems, indicators will make you confuse. And try to also learn price action especially candlestick patterns strategies.
    Wish You GOOD LUCK :)

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    Last edited by taharoyal52; 08-27-2013 at 05:27 PM. Reason: double same post

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    I am going to discuss an easy dual RSI dealing technique with you all. ... This program has so many possibilities because it can be used on 5mins,

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    Quote Originally Posted by frox_lionz View Post
    Iam trying RSI 12 Median Price, RSI 6 Median Price Fisher 12 15m chart. They all line up a bit better on the swing of the trend, as far as I can see at this early stage will throw a few trades on the demo account. I just chucked a smoothed Heiken Ashi on the chart more confirmationof the change in direction looks good but so do so many proof is in the pudding
    Good luck, remember to never ever trade without stop loss because it will only damage your account if you have not used stop losses. So use stop loss which is a must , and this is a good thing that you are first trading in demo.

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    Quote Originally Posted by zintek View Post
    I am going to discuss an easy dual RSI dealing technique with you all. ... This program has so many possibilities because it can be used on 5mins,
    I can not agree with you that you can get the best usage of this indicator on the 5 minute chart because it will still end up to be scalping for you. And the real usage of the RSI should not be a sole usage, it should be used with the trend trading indicator along side. Do not forget also that it is very good that the forex trader get to use the double RSI for more assurance. How then will this work on lower time chart often?

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    It's new trading strategy for me because i only use simple RSI(14) for my trading many times,i not know much about using double RSI like you mention in your thread,i just want to know that how much pips we can get by using that strategy by applying only single pair?i heard that most indicator work only best on higher time frame,but you mention that this strategy gives same results when we apply to any time frame..

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    Quote Originally Posted by mark48 View Post
    It's new trading strategy for me because i only use simple RSI(14) for my trading many times,i not know much about using double RSI like you mention in your thread,i just want to know that how much pips we can get by using that strategy by applying only single pair?i heard that most indicator work only best on higher time frame,but you mention that this strategy gives same results when we apply to any time frame..
    i see that you are asking how many pips the system can give and that is wrong because every expert trader should already know what target they set for themselves in their trading plan. So ask yourself how many pips do you want everyday, and how best can this system help you make your target. You can target 20 pips daily.

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    The rsi is very good indicator and also very old indicator.There are so many strategies with the rsi indicator.If you can properly setup the rsi indicator and also can you setup the best level for your rsi indicator then you are find many good signal.The rsi trading system is very good and i am like it.

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    SUCCESS Is the SUM of SMALL efforts,
    Repeated DAY IN AND DAY OUT.

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    Quote Originally Posted by Jinnat View Post
    The rsi is very good indicator and also very old indicator.There are so many strategies with the rsi indicator.If you can properly setup the rsi indicator and also can you setup the best level for your rsi indicator then you are find many good signal.The rsi trading system is very good and i am like it.
    I have almost used many many rsi strategies , but none of them is so powerful than this one. That is why i have shared this strategy with all my friends here in this forum . THis strategy has very very amazing good results. You must use it , but first in demo and then on live account.

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