4H Strategy with RSX and Murray Math

Hi, I would like to share my trading strategy.
I use it with GBPJPY, USDCHF and GBPUSD. With the other pairs it's not well performing.

I use these indicators:

- 5 SMA
- 50 EMA
- Murrey Math Levels
- RSX
- MA of RSX
- Final Draft 3 Semafor Alert

You can find them attached to this post.

5 SME and 50 EMA are used only to spot support/resistance levels where we can have a change in the trend.
RSX is used to identify overbought/oversold situations (using 80 levels). The same fo Final Draft 3 Semafor Alert.

The used timeframe is 4H. Beware of other timeframes, because they are not well performing.
When you have an overbought/oversold situation with RSX, a signal from Final Draft 3 look for the nearest Murrey Math Level to go short/long.

Attached you'll find some picture to understand how this works.

ATTENTION --> To use this system you must take care of money management. We use 4h timeframe, so you could have some drawdown. I use this simple system:

LOTS = EQUITY / 10.000

For example with an equity of 1.000$ I will go short/long with 0.1 lots.

You can find me here on this thread or on MY BLOG, or, if you are Italian, SUL MIO BLOG.

Attached you can find 2 picures of my strategy...one with GBPJPY and one with USDCHF.

Another picture....now GBPUSD!!!

tnx for sharing this
could you give us some results???
semafor is a repaint indicator isn't it?

saly

Where do you put your SL?
Where do you take profits?
Thanks

i guess it is only after the completion of a 4H can we confirm a reversal... But how do you arrive at the 8ths and what is the figure that you split into 8 parts?

Yes, it's a repainting indicator based on ZIGZAG on differents timeframes, I use it only as confirm with the other indies.
For results it's 4 months I use these system with good results. From last week I started collecting results on my blog.

This is why I didn't know if I could publish or not this strategy. For SL and TP I don't have fixed rules, but it can change every time based on market and price action.
I can say that putting TP and SL after 1 Murrey Maths level and half from entry is a good strategy, but I don't have a fixed rule.

The levels that you see in my pictures are traced by my Murrey Math indi.
If you are interested on how it works you can read this pdf.

An important thing....you don't have to take the indications of Murrey Math as the holy bible...f.e. when it says 8/8ths ultimate resistance it is only an indication of overbought market....to sell you must have the confirm from other indicators.

Zappolo how are you my Italian friend? What taste better in Italy the spaghetti or the pizza?

Another picture....EURUSD!!!

For those intrested in Murry Math levels I have this power point file on my computer from years ago.....

Thanks...seems interesting...I'll gave a look...

Waiting for the market opening i rember you that one of the most important things in trading is money management. So even if most of brokers give you high leverage (or low margin, it's the same) you must not overleverage, or the only result will be the end of your account!!!

My money management strategy is written in the first post!!!

Zapollo

Do you mind if i ask what is RSX, I have tried to google it up but did not get a satisfactory search

It's a smoothed version of RSI...more usefull and more accurate!!!

This is the link to the creator of RSX: http://www.jurikres.com/catalog/ms_rsx.htm

It's not well explained....but is enough to understand how it works...

Pls could you direct me to where i can read up on the indicator. Thank you

This is the link to the creator of RSX: http://www.jurikres.com/catalog/ms_rsx.htm

It's not well explained....but is enough to understand how it works...