RSI Strike Forex Trading Strategy

Making money off the currency market is a daunting task and requires skills, dexterity, dedication and a well-planned strategy.

The RSI Strike forex trading strategy offers traders the leverage to trade with some ease, while scanning the market for buy/sell trading opportunities.

Chart Setup

MetaTrader4 Indicators: RSI_StrikehAMs_SW.ex4 (default setting), Sadukey.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair

Download

Download the RSI Strike Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Place a buy entry if the following indicator or chart pattern gets displayed:

  1. If the red shaped boxes of the Saukey custom indicator gets aligned somewhat below the candlesticks as shown on Fig. 1.0, price is said to be pushed to the upside i.e. a trigger to go long on the pair of interest.
  2. If the histograms or vertical bars of the RSI_StrikehAMs_SW.ex4 custom indicator forms above the 0.00 level as illustrated on Fig. 1.0, price is said to be taken higher, hence a trigger to buy the currency of interest.

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes center stage:

  1. If the blue shaped box of the Sadukey custom indicator pops up on the activity chart during a buy alert, it is indicative of a possible price reversal i.e. a trigger to exit or take profit without delay.
  2. If the red vertical bar of the RSI_StrikehAMs_SW.ex4 custom indicator realigns below the 0.00 level while a buy signal is ongoing, it is a possible pointer to a change in trend, hence an exit or take profit is advised.

Sell Entry Rules

Place sell order(s) if the following holds sway:

  1. If the blue shaped boxes of the Saukey custom indicator gets aligned somewhat above the candlesticks as displayed on Fig. 1.1, price is said to be pushed to the downside i.e. a trigger to go short on the pair of interest.
  2. If the histograms or vertical bars of the RSI_StrikehAMs_SW.ex4 custom indicator forms below the 0.00 level as shown on Fig. 1.1, price is said to be pressured lower, hence a trigger to sell the currency of interest.

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  1. If the red shaped box of the Sadukey custom indicator pops up on the activity chart during a sell signal, it is indicative of a possible trend reversal i.e. a trigger to exit or take profit without delay.
  2. If the green vertical bar of the RSI_StrikehAMs_SW.ex4 custom indicator realigns above the 0.00 level while a sell signal is ongoing, it is a possible pointer to a change in trend, hence an exit or take profit is advised.

Sell Trade Example

Fig. 1.1

Free Download

Download the RSI Strike Forex Trading Strategy

About The Trading Indicators

The Sadukey.ex4 is a trend following indicator that is designed to detect trend via blue rectangular dots that suggests sell alerts while the red colored rectangular dots are meant to define bullish signals.

The RSI_StrikehAMs_SW.ex4 custom indicator is a modified Relative Strength Index indicator that gauges trend in the market.

Download The Bollinger Band Bounce Trading Strategy For FREE!

Combines Price Action And Market Volatility To Help You Identify Profitable Entries And Exits Quickly and Accurately.



  • Up To 100 Pips Per Trade With Low Risk
  • Includes Entry, Stop-Loss And Take Profit Rules
  • Learn And Trade This Strategy In only 10 Minutes