Easy Profits Double RSI Forex Trading System and Strategy

RSI 5 and RSI 14 in the same window trading technique – This is Easy Profits Double RSI Forex Trading System. The default RSI setting of 14 periods work well for swing traders. But many intraday traders find it lacking, because it produces infrequent trading signals.

 
Some traders deal with this problem by lowering their time-frame. Others lower the RSI period setting to get a more sensitive oscillator. However, these solutions produce RSI signals that are more unreliable.
 
Getting infrequent trades is not always a problem for day trading. That is if the few trading setups that show up are high-quality ones.
 
In this article, you will learn a simple method to find quality day trades.
 
The idea is to combine the default 14-period RSI with 5-period RSI. Our aim is to find intraday reversal setups with a high reward-to-risk ratio.

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Double RSI Forex Trading Rules

 

Trade only in the direction of the Trend. The trend is determined by the moving average 200 if the price is greater than 200 ema is uptrend,f the price is less than 200 ema is downtrend.

Best Currency pairs : EURUSD GBPUSD
Best Time Frame :15min.

Metatrader Indicators used

  • RSI Cross alert: fast RSI (5 period), slow RSI (14 period)
  • ADX (9)
  • 200 EMA

 

BUY Rules
  • up trend: Price >200 EMA;
  • RSI Green vertical line;
  • ADX (9) upward and above 30 line.

 

SELL Rules
  • up trend: Price <200 EMA;
  • RSI Red vertical line;
  • ADX (9) upward and above 30 line.

 

EXIT Position
  • Fast profit target.
  • Stop loss 10-15 pips.
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Profit Target for pairs:

  • EUR/USD 80 pips profit target and stop loss 120 pips;
  • GBP/USD 100 pips profit target and stop loss 150 pips;

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