Fractal-Based with RSI Forex Support and Resistance Strategy
This strategy is a price action strategy and works in any timeframe and any currency pairs.
Long Entry:
- Open a buy position when If candle closes above FB resistance.
Short Entry:
- Open a short when candle closes below FB support.
RSI filter is On.
- Central line Filter
- Only enter buy/long if RSI(8) is greater than 50
- Only enter sell/short if RSI(8) is less than 50
Overbought/Oversold Filter
- Only enter buy/long if RSI(8) greater than 60
- Only enter sell/short if RSI(8) is less than 40
Place stop loss 5 pips below entry bar.
Profit Target: on Support and Resistance or aggressive.
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