M1 M5 RSIOMA Forex Scalping Trading System With AUTO Fibonacci Retracement Indicator

RSIOMA Forex Scalping System With AUTO Fibonacci Retracement Indicator. RSIOMA MetaTrader indicator — this indicator takes two moving averages, calculates their RSI (Relative Strength Index) and then also adds a moving average of the calculated RSI. These two lines now can accurately signal the trend changes.

 
They are shown in the separate window where they change from 0 to 100. Additional histogram indicator is shown for quick reference below the lines.

Fibonacci Retracement – A term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). The Fibonacci retracement is the potential retracement of a financial asset’s original move in price.

Fibonacci retracements use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
 

 

M1 M5 RSIOMA Forex Scalping Rules

 

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Best Pairs: EUR/USD, Aud/USD, GBP/USD.
Best Time Frame: 1M and 5M.

 

Long Entry:

Signal Buy 2MAcrossover;
DoubleCCIWoody is green;
RSIOMA>65.

 

Sell Entry:

Signal Buy 2MAcrossover;
DoubleCCIWoody is green;
RSIOMA<35.

 

1M TF Exit:

Targetprice: 10 pips or Fib level;
Stop loss: 10 pips or HA changed color from green to red.

 

5M TF Exit:

Targetprice: 15 pips or Fiblevel;
Stop loss: 12pips or HA changed color from red at green

 

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Notes : DON’T Trade During News. If there is a news event and it occurs during your trading times, never trade 30 minutes before and 30 minutes after the news event.



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