Twin RSI - simple trading strategy

Quoting Lim001

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{quote} The success of this plan depends on manual analyse of market trend before placing a trade. If one can see a trend clearly, he sees money. There are a number of trend indicators, each having its weaknesses. Use them altogether to establish a trend (or no trend) then SL will be far and apart. The weakness in this plan is only one trend (slow-rsi) is used. Can anyone see where the market is heading from below chart {image}

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Quoting emmanuel7788

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{quote} Today Feb07 is AUD RBA Rate announcement in one hour!

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Quoting Inthebox

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{quote} tp 2 based on gap closure and h4. {image}

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Quoting tommydoginti

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{quote} Sell timings as of the trending approach strategies. {image}

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Quoting emmanuel7788

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{quote} Can the RSI help us determine the market trend? Well, John Hayden' RSI study has some good information to feed those hungry for knowledge. RSI: The Complete Guide by John Hayden click to [download] Trend Determination using the RSI (TDI)click to [download]...

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Quoting emmanuel7788

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{quote} Can the RSI help us determine the market trend? Well, John Hayden' RSI study has some good information to feed those hungry for knowledge. RSI: The Complete Guide by John Hayden click to [download] Trend Determination using the RSI (TDI)click to [download]...

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Quoting tommydoginti

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{quote} Twin RSI ranging strategy sell signal as price in consolidation and stayed below resistance. {image}

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Quoting Lim001

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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...

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Quoting Inthebox

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what do you think? can apply here? {image}

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Quoting Inthebox

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many traders when they open the charts, the first thing to look at is the indicators. imo, this will cloud one's view to analyze the charts properly. as indicators react to price, there are things that are more important than indicators. ie. mainly to analyze the surrounding terrain. and do your mapping before the attack. instead, put on a naked chart and see whether price react to a key level that one keeps track on. only then put on the indicator and see how it react to that level according to the rules. this is what i have been trying to show...

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