Trend RSI Forex Trading Strategy

The Trend RSI forex trading strategy is designed to work on the basis of rebound in the currency market and it deploys a simple setup mechanism that just about any trader can adopt.

A set of basic indicators, lined with some simple rules, defines the ingredient for this amazing system.

Chart Setup

MetaTrader4 Indicators: triangulatMA.ex4 (Inputs Variable modified; Periods=47), Triggerlines.ex4 (default setting), TrendRSI_v1.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 Forex Trend RSI Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

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

  1. If the thin red line of the triangulatMA.ex4 custom indicator intersects the more bolded lines (red & blue) of the Triggerlines.ex4 custom indicator bottom up as shown on Fig. 1.0, price is said to be pressured higher, hence a trigger to buy the asset of choice.
  2. If the magenta line of the TrendRSI_v1 custom indicator breaks and stays above the 50.00 level, it is a pointer to a looming bullish trend, hence a signal to buy the designated currency pair.

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 precedence:

  1. If the thin red line of the triangulatMA.ex4 custom indicator crosses the more bolded lines (red & blue) of the Triggerlines.ex4 custom indicator top downward (refer to Fig. 1.0), it is an indication that price surge is halting, hence an exit or take profit will suffice.
  2. If the magenta line of the TrendRSI_v1 custom indicator breaks below the 50.00 level during an ongoing bullish sentiment, an exit or take profit is recommended.

Sell Entry Rules

Enter a sell if the following holds sway:

  1. If the thin red line of the triangulatMA.ex4 custom indicator intersects the more bolded lines (red & blue) of the Triggerlines.ex4 custom indicator top downward as illustrated on Fig. 1.1, price is said to be taken lower, hence a trigger to sell the asset of choice.
  2. If the magenta line of the TrendRSI_v1 custom indicator breaks and hovers below the 50.00 level, it is a pointer to an impending bears market, hence a trigger to sell the specified currency pair.

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 thin red line of the triangulatMA.ex4 custom indicator crosses the more bolded lines (red & blue) of the Triggerlines.ex4 custom indicator bottom up as shown on Fig. 1.1, it is an indication that the falls in price is weaning, hence an exit or take profit will do.
  2. If the magenta line of the TrendRSI_v1 custom indicator breaks above the 50.00 level during an ongoing bearish trend, an exit or take profit is advised.

Sell Trade Example

Fig. 1.1

Free Download

Download the Forex Trend RSI Forex Trading Strategy

About The Trading Indicators

The triangulatMA.ex4 custom indicator is a moving average indicator that smoothens the price.

The Triggerlines.ex4 is a custom indicator that is designed after the moving average but is comprised of two lines, with changing colors, red for bearish signal and blue for bullish alert.

The TrendRSI_v1 custom indicator is an RSI indicator that is comprised of two signal lines, and can be used to determine breakout.

Download Forex Analyzer PRO For Free Today!

Brand New Forex System With Super Accurate And Fast Signals Generating Technology.

Forex Analyzer PRO generates buy and sell signals right on your chart with laser accuracy and NEVER REPAINTS!

  • Up To 200 Pips Every Day
  • Buy And Sell Forex Signals
  • Advanced Daily Range Detection
  • Email & Mobile Trading Alerts
  • No Repainting Or Lagging