This strategy is based on the Rsx indicator. Rsx Indicator Strategy is a non-repaint indicator. Credit goes to the author Nick Bilak. This is also a great indicator to determine trend reversal. And also this is used for some trend following systems.
Rsx Indicator is a part of my personal strategy. This is clue number 01. If you do not know what I’m talking about. Read “Volume Zone Oscillator” post.
So now you know how important is this indicator. The main reason I love this indicator is it’s simple and does not lag. And also does not repaint. I personally use 4 and 12, 21 as indicator period values. Because those settings are best worked for me. Believe me i have tried every setting starting from 1,2,4,5,6,7,,10,12,14,21,34 all the way up to 49 and 144 . Those are very famous indicator period values every professional traders use. You can apply these values to your indicators and check for the best possible results.
Indicators used : Turbo Rsx indicator ( ($2.99 Only + Instant Download)
Time Frame: 1M,5M,15M
Expiry Time: 1M,5M,15M
Entry: 2-3 Seconds Before Previous Candle Expiry
You need to set up your charts like below ;
Len : 4
This is also a trend reversal indicator. We get signal for entry when indicator hits oversold and overbought levels. Lots of people don’t like reversal strategies and OS/OB indicators. But the truth is you can use depends on your perspective. If someone looked at the indicator on the point of view of forex that may be a bad indicator. If someone sees it in the point of view of Binary options or swing trading or Trailing. It may be the best indicator for him. likewise, this indicator is best for lower periods and lower time frames. That’s according to my personal experience. Of course, you are free to try it on other timeframes and different periods. There’s no limit
See the chart Below For Possible Entries
NOTE: This article is not about investment advice.