An easy simple “Forex RSI Power Price Action Trading System” – RSI (Relative Strength Index) is counted among trading’s most popular indicators. This is for good reason because as a member of the oscillator family, RSI can help us determine the trend, time entries, and more.
Forex RSI Power Price Action Trading System is a Trend-momentum Trading System.
- Time Frame: 30 Minutes or higher
- Recommended Currency Pairs: EURUSD, GBPUSD, AUDUSD, …and all major pairs
MetaTrader Trading Indicators
- RSI (8 periods)
- Power Price Action
- PBF Fast 3MA
- Tenkan-Sen Ichimoku
- Signal Trend
BUY Rules
- RSI (8) upward above the level 60
- Power Price Action aqua candle
- Price above Tenkan-Sen Ichimoku
- PBF Fast 3MA line upward (AQUA line above blue line)
- Signal Trend green bars
SELL Rules
- RSI (8) downward below the level 40
- Power Price Action red candle
- Price below Tenkan-Sen Ichimoku
- PBF Fast 3MA line downward (AQUA line below blue line)
- Signal Trend red bars
Trading NOTES
- The initial stop loss above or below the Power Price Action candle
- Trading too aggressively is perhaps the biggest mistake new traders make
- Use a demo account or a small live account first to practice this trading system
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