FREE DOWNLOAD Forex Premium TradingSystem – Forex RSI Evolution Slope Trading System With RenkoStreet Channel Indicator. Forex RSI Evolution Slope is a trend following strategy filtered by RSI, we have three slope indicator and meke trading when all agree in same direction.
The Relative Strength Index is going to measure price changes over the past X periods (with X being the input that you can enter into the indicator.)
If you set RSI of 5 periods, it will measure the strength of this candles price movement against the previous 4 (for a total of the last 5 periods). If you use RSI at 55 periods, you will be measuring this candles strength or weakness to the last 54 periods. The more periods you use, the ‘slower’ the indicator will appear to react to recent price changes.
Forex RSI Evolution Slope Trading Rules
This trading system has clear rules. You can use this strategy also on renko chart ( box size 5 pips or higher).
Time frame 15 min or higher. On 5 min Time Frame there are more false signals.
- Evolution slope (21 period)
- Renko channel (this indicator determines the dynamic supports and resistances;
- FXay MACD
- RSI Histogram 8 period
- FX Bay MACD lines upward (Histogram >0)
- Both Evolution slop is green
- Confirm with RSI Histogram > 0
- FX Bay MACD lines downward (Histogram <0)
- Both Evolution slop is red
- Confirm with RSI Histogram < 0
STOP and EXIT Rule
- Exit position with predetermined profit target: ratio 1:2 stop loss or when slope cross in opposite direction.
- Initial stop loss on the previous swing high/low.
The profitability of this strategy depends by range. If the range is little does not make trading.