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Twin RSI - simple trading strategy

  • Post #81
  • Quote
  • Edited 10:40am Feb 6, 2023 10:27am | Edited 10:40am
Quoting Lim001
Twin RSI This is a mechanical yet simple trading strategy. Just follow the steps that I am going to explain below, and you will find your trading job very much easier and stress free. First, the chart setup (a template has been attached for your convenience). Fast rsi (yellow) period =2, high level = 70 and low level = 30. Slow rsi (red) period = 14, upper range =56, lower range = 44. Both rsi’s are set in the same window. There are 3 trading strategies that one can apply using the same chart setup. I will explain one of them that will generate...
Hi Lim,

I see your strategy can naturally avoid trending market as you have indicated.

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Quoting tommydoginti
{quote} Hi Lim, I see your strategy can avoid trending market as you have indicated. {image}
for Trending market, he share this
https://www.forexfactory.com/thread/...3#post14310333
Follow a system & a person not everything & everyone
Quoting hasib
{quote} for Trending market, he share this https://www.forexfactory.com/thread/...3#post14310333
Yup I can code those too. Maybe do it tomorrow when I have time from work

The chart I am sharing now is according to Lim’s post yesterday.
Quoting hasib
tommydoginti, emmanuel7788 Please don't make it a fighting ground. If you don't trade RSI please don't post your copy-paste RSI Trading Ideas. Use your Brain, please If you trade this system you are welcome to post and share your trade ideas here. Thanks, hope you understand Take Love from me
hey @hasib

that @tommydog... fakeTMS trader is spamming this thread for attention. He wont be posting fake trades here because I am watching what he post.

I am focus on my own trading.

Today' trade closed.

The setup candle could be better if it closed higher and then a pullback wick and the fast RSI(2) above the 70 level.
Anyway small profit +5.5% using THV CaveManager EA.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting tommydoginti
{quote} Yup I can code those too. Maybe do it tomorrow when I have time from work The chart I am sharing now is according to Lim’s post yesterday.
Hey Tommy, did you enjoy a good laugh courtesy of the failed trader saying that he is focusing on his own trading and, watching what you post here? With that kind of focus on his own trading, no surprise at all that he's deep in his failure pit with it.
The markets are speaking to you. Do you know their language? I M T
Quoting tommydoginti
{quote} Hi Lim, I see your strategy can naturally avoid trending market as you have indicated. {image}
@tommydog...

You need to read this thread starting with Post#1. Do Not mix TMS #647 here. Show some respect for the OP who has many more years trading experience than your newbie 2 year starting in Oct 2021.

If you follow Post#1, your chart should be clutter free ... just the price candle and two RSI(14) and RSI(2)

Post#1 is strategy #1 to trade the ranging market condition.

Example GBPNZD 4H chart below

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting DrDave
{quote} Hey Tommy, did you enjoy a good laugh courtesy of the failed trader saying that he is focusing on his own trading and, watching what you post here? With that kind of focus on his own trading, no surprise at all that he's deep in his failure pit with it.

hey Fake'Dr'

why are you here when you have your own thread TDA with IMT?

let me provide you an easy link back to your failed system thread.
https://www.forexfactory.com/thread/942920-tda-with-imt


@Lim001 Twin RSI is a better strategy than your failed TDA with IMT system.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
grapes are sour. we all know the story. But for all the profitable traders it is sweet and tasty.
I am having this now. Just enjoy trading and life.

Have a love
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Follow a system & a person not everything & everyone
Quoting hasib
grapes are sour. we all know the story. But for all the profitable traders it is sweet and tasty. I am having this now. Just enjoy trading and life. Have a love {image}
The losers gonna lose and haters gonna hate.

these mentally ill people can only talk trash as it is the only thing that come out of them. See how sczho this dude is. Earlier he said not trading this method, not spamming posts here and now bragging of his fake trade summary with nothing to do with this method whatsoever, smack talking to whoever is posting here for this method.

just focus owns trading and leave this dude alone.

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Quoting Lim001
Two more trading strategies are available based on the same chart Buy only strategy slow-rsi setting period:14, level 55/75, close fast-rsi setting: period: 2, level 15, close Rules 1) a down bar closes in between rsi 55 & 75 2) the fast-rsi cross the slow-rsi from above 3) open a buy order at beginning of next bar 4) TP at close of a bar when fast-rsi crosses the slow-rsi from below 5) stop loss at end of a forward bar when i) fast-rsi dips below 15 or ii) slow-rsi dips below 55 or iii) pre-set stop triggered {image} Sell only strategy slow-rsi...
Hi Lim,

I checked your rules and it should work well together with the ranging market approach as a single indicator. I will spend some time to code it on TradingView tomorrow.

Trade well and good night.

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Quoting hasib
{quote} for Trending market, he share this https://www.forexfactory.com/thread/...3#post14310333
Added the other set of rules on TradingView. Red/Green candles with white dots on top are the one for trending and without dots for ranging rules.

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Quoting tommydoginti
{quote} Added the other set of rules on TradingView. Red/Green candles with white dots on top are the one for trending and without dots for ranging rules. {image}
@tommydog...

Why complicate a simple trading strategy as laid out by the OP @Lim001?
Stick the OP' advice and trade the 4H. You will find enough setups every week and make good money.

Just his twin rsi template will do the job. No need for fancy looking tradingview chart as your smoke and mirror.

On the GN 4H chart below, we have a swing high and ended the recent trending move. Now we wait for Strategy #1 or we can be patient for Strategy #2 and #3.


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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Lim001
Two more trading strategies are available based on the same chart Buy only strategy slow-rsi setting period:14, level 55/75, close fast-rsi setting: period: 2, level 15, close Rules 1) a down bar closes in between rsi 55 & 75 2) the fast-rsi cross the slow-rsi from above 3) open a buy order at beginning of next bar 4) TP at close of a bar when fast-rsi crosses the slow-rsi from below 5) stop loss at end of a forward bar when i) fast-rsi dips below 15 or ii) slow-rsi dips below 55 or iii) pre-set stop triggered {image} Sell only strategy slow-rsi...
hey @Lim001

I like these trending trading strategies as I am swing trader not so much day trading.

Just a suggestion if you can update these two trading strategies in Post#1



This would make it easier for new members reading to get started here.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting hasib
grapes are sour. we all know the story. But for all the profitable traders it is sweet and tasty. I am having this now. Just enjoy trading and life. Have a love {image}
@hasib

you and I know who the big sourgrape is. He tried many times to insult you in the TMS thread when you post. He humiliated you with small spelling mistakes in your post too.

at 30 years old and with just 2 years trading experience, he will have a long many years to catch up with you and your vast knowledge in many trading systems and resources.

where he lacks, he spin stories with disinformation and misinformation, ....

all he wants here is to get the attention for his fragile ego.

let him do what is good at with fake trades using photoshop editing tool.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Lim001
Avoid trading before and after a high impact news on the currency pair that you intend to trade for this strategy
Today Feb07 is AUD RBA Rate announcement in one hour!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Lim001
Two more trading strategies are available based on the same chart Buy only strategy slow-rsi setting period:14, level 55/75, close fast-rsi setting: period: 2, level 15, close Rules 1) a down bar closes in between rsi 55 & 75 2) the fast-rsi cross the slow-rsi from above 3) open a buy order at beginning of next bar 4) TP at close of a bar when fast-rsi crosses the slow-rsi from below 5) stop loss at end of a forward bar when i) fast-rsi dips below 15 or ii) slow-rsi dips below 55 or iii) pre-set stop triggered {image} Sell only strategy slow-rsi...
Entries for the strategies.

Slow RSI in level 55/75 or 25/45 for buy/sell at TDI crosses

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Quoting Inthebox
reasons to apply {image}
resistance
entry based on d1
tp1 based on h4
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ITB - Seeking Orderliness amongst 'Randomness'
GJ H4 Buy Trade
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Follow a system & a person not everything & everyone
Quoting tommydoginti
{quote} Entries for the strategies. Slow RSI in level 55/75 or 25/45 for buy/sell at TDI crosses {image}
Sell timings as of the trending approach strategies.

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Quoting Inthebox
{quote} resistance entry based on d1 tp1 based on h4 {image} {image}
tp 2 based on gap closure and h4.
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ITB - Seeking Orderliness amongst 'Randomness'
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