Forex & Stock Triple RSI-ADX Trading Strategy

Forex & Stock Triple RSI-ADX Trading Strategy – Triple RSI-ADX is one of the best trading systems to generate trade ideas for any financial asset. It is so popular in the financial market for its efficiency. So it makes sense that you can generate many profitable trade ideas using the triple RSI, 50-period EMA, and ADX indicators.

In his book “New concepts in technical trading systems,” Wells Wilder only uses trading strategy examples with the 14-period RSI. Although other RSI settings are certainly possible and potentially profitable, since Wilder created the indicator, we should take time to note why he think his indicator is best setup with 14-periods.

In this trading method, we combine the triple RSI indicator reading with the ADX and 50-EMA indicators to determine the future movement of any particular trading instrument.

We confirm the price direction using the triple RSI and 50-EMA indicators. And then, we confirm the current trend’s strength by observing the ADX indicator reading.

Then seek to open trading positions by combining both indicator readings. This strategy suits many time frame charts. We suggest using a 15 min or Higher time frame chart to get the best results.

• Download “ForexWOT-TripleRSIADX” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “ForexWOT-TripleRSIADX.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Timeframe where you want to test your forex system.
• Right-click on your trading chart and hover on “Template”.
• Move right to select “ForexWOT-TripleRSIADX” trading system and strategy.
• You will see the “Triple RSI-ADX Trading System” is available on your Chart.

 

• 1st. The dynamic red line of the triple RSI window reaches above the other two dynamic lines.
• 2nd. The dynamic BLUE line crosses above the dynamic GREEN line.
• 3rd. All three dynamic lines reach above the central, or 50 level, and head on the upside.
• 4th. The Price increase and above the 50-period EMA line.
• 5th. The ADX reading reaches above 20.

 

•  1st. The dynamic red line of the triple RSI window reaches below the other two dynamic lines.
• 2nd. The dynamic yellow line crosses below the dynamic blue line.
• 3rd. All three dynamic lines reach below the central (50) level and head on the downside.
• 4th. The Price decrease and below the 50-period EMA line.
• 5th. The ADX reading reaches above 20.