The Forex Trend Secrets “RSI Alligator” Trading System is a simple yet powerful system that has performed well during Demo and the Live Rounds of the recent Surefire Trading Challenge.
It is a simple system that would be ideal for new traders that are still getting up to speed with trading the Forex market but can also be very powerful in the hands of more advanced traders.
- Time Frame: H1 or higher
- Currency Pairs: Any
MetaTrader Trading Indicators
- Alligator
- RSI
BUY Rules
- Wait for the Alligator Lip (lime) to cross above the Jaw (Blue)
- Wait for the Alligator Teeth (red) to cross above the Jaw (Blue)
- Wait for the RSI 8 to cross above 50
- Enter a Buy trade at the open of the next candle
- Insert your Stop Loss below the most recent Swing Low
- Set your Take Profit in the same number of pips away from your entry price as your Stop Loss, i.e. a 1:1 or greater Risk/Reward Ratio.
SELL Rules
- Wait for the Alligator Lip to cross below the Jaw
- Wait for the Alligator Teeth to cross below the Jaw
- Wait for the RSI 8 to cross below 50
- Enter a Sell trade at the open of the next candle
- Insert your Stop Loss above the most recent Swing High
- Set your Take Profit in the same number of pips away from your entry price as your Stop Loss, i.e. a 1:1 or greater Risk/Reward Ratio.
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