As Ronin say, this strategy has a problem with trending environments.
Here is a setup on M5, which I want to use. Price has been over 50,2 and went down again. RSI also followed the rules. So this is a short trade. (I have not printed 100MA and 200MA yet. Just started to test)
But clearly M15 and M30 is in a strong trend. So this trade can be filtered by some MTF strength indicator.
Here is a setup on M5, which I want to use. Price has been over 50,2 and went down again. RSI also followed the rules. So this is a short trade. (I have not printed 100MA and 200MA yet. Just started to test)
But clearly M15 and M30 is in a strong trend. So this trade can be filtered by some MTF strength indicator.
MetaTrader 4 - so many advantages.
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