Simple RSI Forex Scalping Strategy
This is a scalping strategy that focuses on RSI indicator and accompanied by other indicators for confirmation. This system works 15 minutes timeframe and is applicable to any currency pairs.
Metatrader Indicators:
- Market pulse indicator (10, 1, 20) with dll file;
- RSI smoothed indicator (5,5,0,5,9,3) overbought: 0.5-1.05; oversold:-0.5-1.05:
- Ehlres-cog (10 period).
Rules:
- Enter trade when aqua line market pulse is greater than orange line.
Buy Entry:
- Market pulse aqua line is greater than orange line.
- RSI indicator in oversold Zone crosses upward.
- Ehlres-cog crosses upward.
Sell Entry:
- Market pulse aqua line is greater than orange line.
- RSI indicator in oversold Zone crosses downward.
- Ehlres-cog crosses downward.
Exit position:
- Ehlres-cog must cross downward for buy and upward for sell.
- Take profit is predetermined 8-14 pips pr on the pivot levels.
- Place stop loss at 10-15 pips.
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