Friday, November 25, 2011

RSI Plus

Today in this article I want to explain the use of RSI and Stochastic together for trend trading, trend confirmation and entry and exit.

Indicators:
- RSI 21 periods
- Stochastic 30,8,18
- Williams %R Default

4hour, 1hour and 15min timeframes should look like these:



The 4hour is the trend - here the RSI must be Below 50level to trade SHORT and Above 50level to trade LONG.





1hour is your confirmation. In a SHORT Trend, 1hr RSI must be below 50 and stochastic must be SELL direction too.

Your entry is with the williams %R getting to extreme counter trend. W%R must be at -20 for SELL and at -80 for BUY. Go for 30-50pips and your stoploss should be well directed it the 1hr RSI change or 1hr Stochastic changes you should exit your have a fixed 50pips Exit on stop.

I have also prepared an EA for this good trading plan. The EA cost $159.99 contact victor.fxwave@gmail.com if you are interested.

Crystal Markets

5 comments:

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  2. You use the combination of RSI and stochs on 4hour, 1hour and 15minutes together.This is surely a set-up for short term traders. I use similar set-up but on higher time frames (weekly,daily and 4hour).

    Bosun
    FxGlory remains my best broker since 2014.

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