Bull Bear RSI Forex Trading Strategy

The Bull Bear RSI forex trading strategy produces nice trades on many forex pairs without exception.

It’s composed of a bull vs. bear histogram indicator for trend direction and a buy/sell signal indicator for trade entry.

Feel free to learn and download this strategy below:

Chart Setup

MetaTrader4 Indicators: BinaryComodos.ex4 (default setting), BullBearRSI.ex4 (Inputs Variable Modified; period=24)

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 Bull Bear RSI Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

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

  1. If the green upward pointing arrow of the BinaryComodos.ex4 custom indicator gets aligned somewhat below price bars as seen on Fig. 1.0, price is said to be pressured higher i.e. a signal to buy the currency of focus.
  2. If the deep sky blue bars of the BullBearRSI.ex4 custom indicator gets aligned above the 0.00 level as shown on Fig. 1.0, the sentiment in the market is said to be bullish i.e. a trigger to buy the stipulated fx pair.

Stop Loss for Buy Entry: Place stop loss 3 pips below short-term support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If the BinaryComodos.ex4 custom indicator displays a red downward pointing arrow that is positioned somewhat above the candlesticks, it is an indication of a possible reversal in price, hence an exit or take profit is advised.
  2. If the bars of the BullBearRSI.ex4 custom indicator turns violet during a buy alert, it is indicative of weaning bulls power, hence an exit or take profit will suffice.

Sell Entry Rules

Enter a sell order if the following holds true:

  1. If the red downward pointing arrow of the BinaryComodos.ex4 custom indicator gets aligned somewhat above price bars as shown on Fig. 1.1, price is said to be pushed lower i.e. a signal to sell the designated currency.
  2. If the violet bars of the BullBearRSI.ex4 custom indicator gets aligned below the 0.00 level as seen on Fig. 1.1, the sentiment in the market is said to be bearish i.e. a trigger to sell the designated currency pair.

Stop Loss for Sell Entry: Place stop loss 3 pips above short-term resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  1. If the BinaryComodos.ex4 custom indicator displays a green upward pointing arrow that is positioned somewhat below the candlesticks, it is an indication of a likely reversal in price, hence an exit or take profit is advised.
  2. If the bars of the BullBearRSI.ex4 custom indicator turns deep sky blue during a bearish trend, it is indicative of halting bears power, hence an exit or take profit will do.

Sell Trade Example

Fig. 1.1

Free Download

Download the Bull Bear RSI Forex Trading Strategy

About The Trading Indicators

The BinaryComodos.ex4 custom indicator does not repaint and produces nice trading results.

The BullBearRSI.ex4 custom indicator works on all timeframe’s and on all forex pairs. The deep sky blue color depicts a bullish trend, while the violet bars is indicative of a bear trend.

Share Now!