Low Risk and High-Profit RSI Filter “Price Action” Trading System – RSI is an extremely popular momentum indicator.
The RSI Indicator has proven to be quite useful to traders and investors. It could potentially help to identify local tops and bottoms.
- Time Frame: H4 or higher
- Currency Pairs: Any
MetaTrader Trading indicators
- RSI
- Filter V2.01
- Moving Average
BUY Rules
- RSI: Above the level 55 line
- Filter V2.01: Blue histogram
- Moving Average: Blue color histogram > MA line
- Price Action Signal: Bullish Engulfing
SELL Rules
- RSI: Below the level 45 line
- Filter V2.01: Red histogram
- Moving Average: Red color histogram < MA line
- Price Action Signal: Bearish Engulfing
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