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SRS - Simple RSI System

  • #1
  • First Post: Feb 11, 2010 12:55pm Feb 11, 2010 12:55pm
buy = RSI>60
sell = RSI<40
close both when RSI=50

RSI parameters = 14

P.S.: Candle have to close above or below levels
  • #2
  • Feb 11, 2010 3:08pm Feb 11, 2010 3:08pm
Quoting FXExpert
buy = RSI>60
sell = RSI<40
close both when RSI=50

RSI parameters = 14

P.S.: Candle have to close above or below levels
What time frame please?
  • #3
  • Feb 11, 2010 8:38pm Feb 11, 2010 8:38pm
Time Frame depends on the kinda stop loss you can afford ...
if you can afford 80-100 pips stoploss then u can trade the hourly...
If not then you can trade the 15 mins with 50+ pips stoploss and
if you want to trade the 5 mins it will need atleast 20-30 pips stoploss...
TP is half your stoploss ...

This is my personal opinion ... we will also see what fxexpert has to say on this.
  • #4
  • Feb 13, 2010 5:12am Feb 13, 2010 5:12am
You can use any time frame , and of course , it will depend , I don't recomend in this case using TP and SL , but if you like so , I think each one should find it's own settings that fits his/hers personal taste.
  • #5
  • Feb 15, 2010 4:33pm Feb 15, 2010 4:33pm
Quoting FXExpert
buy = RSI>60
sell = RSI<40
close both when RSI=50

RSI parameters = 14

P.S.: Candle have to close above or below levels
I guess U right, it's very very very simple RSI System



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Differences between internal wave structures
  • #6
  • Feb 17, 2010 3:09pm Feb 17, 2010 3:09pm
Quoting FXExpert
buy = RSI>60
sell = RSI<40
close both when RSI=50

RSI parameters = 14

P.S.: Candle have to close above or below levels
Hi,

Are these rules correct? Buy when RSI is greater than the 60 level? Sell when the RSI is less than the 40 level? So...as long as the RSI does not retrace to the 50 level, you stay in the trade? What time frame seems best for this strategy?

Thanks,
BC
  • #7
  • Feb 17, 2010 3:15pm Feb 17, 2010 3:15pm
how on earth is this still in trading systems section and some gems are in rookie???

http://www.legaljuice.com/oops%20doh.jpg
  • #8
  • Feb 17, 2010 7:25pm Feb 17, 2010 7:25pm
the system is good but charting is exhausting
Lazy Forex
  • #9
  • Feb 17, 2010 10:49pm Feb 17, 2010 10:49pm
How is it exhausting?
  • #10
  • Feb 17, 2010 11:18pm Feb 17, 2010 11:18pm
i think its easier to trade the moving average cross 4 with 14 EMA

for me RSI / MACD used for divergence only other they look like moving average moving down
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  • #11
  • Feb 17, 2010 11:45pm Feb 17, 2010 11:45pm
Quoting Sim
how on earth is this still in trading systems section and some gems are in rookie???

http://www.legaljuice.com/oops%20doh.jpg

Agreed, I hate when trading systems are moved to the rookie forum. They get mixed in with the rest of the rookie stuff.
  • #12
  • Feb 20, 2010 9:22pm Feb 20, 2010 9:22pm
Quoting FXExpert
buy = RSI>60
sell = RSI<40
close both when RSI=50

RSI parameters = 14

P.S.: Candle have to close above or below levels
Any takers for an expert for this simple system? Please add ability to trade only in one direction also i.e. long or short.
I observe good winning ratio using this method say on I hour and using cross of 50 on the day chart as filter.
Thanks
  • #13
  • Last Post: Feb 20, 2010 10:26pm Feb 20, 2010 10:26pm
aelimian, ask your FXCM rep for a look at thier RSI EA. You can use it like this if you only trade it in one direction, enter at threshold and exit at 50. I use it to straddle-enter trades myself.
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