Relative Strength PRO Forex Trading Strategy
In order to make informed buy and sell trade decisions, the Relative Strength PRO Forex trading strategy is designed to scan for unique forex market trading patterns that matches within its predefined conditions.
These conditions are a set of rules that are expected to occur during the course of the various trading sessions.
It uses an advanced smoothed version of the traditional RSI technical indicator.
This amazing strategy works for any pair and timeframe. Just give it a try!
MetaTrader4 Indicators: adaptive-relative-strength-index-smoothed.ex4 (Inputs Variable Modified; History=14400, BBSmooth=24, QQESmooth=10, Colors Modified; #1=None, #2=None, #3=None, #4=None, #5=None, #6=None, #7=None, #8=None), macd-color-indicator.ex4 (Default Setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any (London, New York, Tokyo)
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the lime green histograms of the macd-color-indicator.ex4Metatrader 4 forex indicator gets aligned above the 0.00 signal level (see Fig. 1.0), price is said to be driven higher i.e. a trigger to go long on the stipulated forex pair.
- If the crimson line of the adaptive-relative-strength-index-smoothed.ex4custom indicator crosses the lime green line in a bottom up manner as shown on Fig. 1.0, more bulls are said to be entering the market, as such a trigger to go long will suffice.
Stop Loss for Buy Entry: Place stop loss 1-3 pips below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If the macd-color-indicator.ex4forms a red histogram that is aligned below the 0.00 center line (refer to Fig. 1.0), a bearish reversal is said to be approaching, as such an exit or take profit will suffice.
- If the crimson and lime green lines of the adaptive-relative-strength-index-smoothed.ex4intersects while a bullish trend is ongoing, bullish pressures is said to be weaning, hence an exit or take profit will do.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the red histograms of the macd-color-indicator.ex4Metatrader 4 forex indicator gets placed below the 0.00 center line as shown on Fig. 1.1, price is said to be taken lower, hence a trigger to go short on the selected currency pair.
- If the crimson line of the adaptive-relative-strength-index-smoothed.ex4custom indicator crosses the lime green line in a top downward manner as illustrated on Fig. 1.1, more bears are said to be taking up positions in the market, as such a trigger to go short will do.
Stop Loss for Sell Entry: Place stop loss 1-3 pips above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the macd-color-indicator.ex4forms a lime green histogram that is placed above the 0.00 signal level, a bullish reversal is said to be imminent, hence an exit or take profit is recommended.
- If the crimson and lime green lines of the adaptive-relative-strength-index-smoothed indicator.ex4intersects during a bearish trend as indicated on Fig. 1.1, price is said to be making a U-turn, hence an exit or take profit is advised.
Sell Trade Example
About The Trading Indicators
The adaptive-relative-strength-index-smoothed.ex4 is an indicator that uses a set of MA-based RSI index and paints a trend directive cloud around the candlesticks within the main window.
The macd-color-indicator.ex4 is a technical tool that is similar to the traditional MACD indicator.
It is known to alter the color of the histogram based on changes in market situation.