High Accuracy Forex Trading – The Best and Easy Forex Technical Trading Strategy with Double RSI and The Cronex T Demarker GFC (Color) indicator. This system is easy to both for beginners and advanced traders. No special knowledge required at all! With good forex system, you are professional traders with no forex knowledge.
The Relative Strength Index (RSI) indicator is an extremely useful and popular momentum oscillator.
The RS is a Relative Strength, which is calculated by dividing the average closing price of the up closes by the average closing price of down closes.
- The formula is RS = Average Gain/Average Loss.
Momentum is the velocity and magnitude of price rise and falls.
The RSI measures how robust the price momentum is currently. It indicates when the momentum is slowing down or picking up steam by comparing to prior momentum.
In this article, I am going to talk about the RSI 50 level. RSI 50 level can be used as a strong tool to confirm the different kinds of trade setups from any trading system.
Whether you use the candlestick patterns, support/resistance breakout, or any other trading system, you can consult the RSI 50 level to confirm your trade setups.
Let me show you some examples and trading rules.
- Note: RSI default setting is 14, but the RSI settings we use in this “Double RSI” System are 21 and 5.
- Best Time Frames: H1, H4, and Daily
- Currency Pairs: EURUSD, GBPUSD, USDJPY, and GBPJPY
- Double RSI (RSI 21 and RSI 5) above 50 level
- Cronex T Demarker GFC (Color) indicator bullish
- Tenkan-Sen magenta line upward and above 21 EMA Red line
- Double RSI (RSI 21 and RSI 5) below 50 level
- Cronex T Demarker GFC (Color) indicator bearish
- Tenkan-Sen magenta line downward and below 21 EMA Red line
- StopLoss Profit Target ratio 1:2 or 1:3
- Initial Stop loss below/above previous swing low/high