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Keep in mind that this step may take time to develop. It is very important to wait for this second low because it gets you in a better trade making position. That is the Divergence. Remember that our example is a current downtrend looking to break to the upside. If this was a 50 candle high, we would be looking at the exact opposite of this step. Once this criterion has been met, we can go ahead and look for entry. This is because the charts are showing us that a reversal is coming soon.
The way you enter a trade is very simple. You wait for the price to head in the direction of the trade and wait for a candle to close above the first candle that you identified that was previously 50 candle low. If you are struggling with this step, save the picture for reference. This will help guide you when looking for a trade.
To place your stop, bump back 1 to 3 time periods and find a reasonable, logical level to put your stop. You are looking for prior resistance, support. We placed our stop below this support area. That way if the trend continued and did not break, it could hit this level and bounce back up in our direction. I recommend you follow at least a 1 to 3 profit vs. This will ensure that you are maximizing your potential to get the most out of the strategy.
You can adjust as you wish. Keep in mind that most successful strategies that identify breaks of a trend use a 1 to 3 profit vs. Here you can learn how to profit from trading. If you have questions or comments about this trading strategy you may reach us at info tradingstrategyguides. However, counting 50 candles is a bit monotonous.
This is one of the many reasons we have developed the EFC indicator that trades this strategy for you! If you would like to see a complete guide to the EFC indicator we wrote an article about it here! Also, please give this strategy a 5 star if you enjoyed it!
We also recommend taking some time to learn about our mean reversion trading strategy. We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more. Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow.
I have been back testing this strategy for the last week. Thanks Guys! I am grateful for your Trading strategy guides RSI divergence strategy. It is a no holy grail but coupled with a sensible money management and understanding of price action, it definitely indicates the picks and troughs of the rhythm of the market. My advise is, even when there is a confirmed divergence between RSI and price, buy signals in an uptrend and sell in a downtrend.
Thanks for educating us. God bless. Would like an indicator that doesn't lag with high reliability with in terms of generating entry signals with minimal false positives. I personally enjoy Simple graphical type indicators like arrows and bars changing colors to tell me which way to take my next trade. Thank you. What I look forward to seeing on an indicator is one that would be able to help me avoid chop, Most indicators are able to get one into or out of trade but are just dumb when it come to market chop.
So my ideal indicator would be able to give me warning of the beginnings of a chop. It can weigh up all the factors and give a suggested probability rating so the trading can decide on his own whether or not to be conservative. Interesting strategy.
Have used RSI to verify what price action is telling me, but not with 50 period low or high. Fakeouts are a big problem. I'll try this strategy. The most important feature for me would be to get consistent results under all market conditions, i.
In this way we are able to begin the analysis and wait for proper entry in advance. On your question about the unique feature I'd love to see in an indicator, what I'd love to see in an indication is an additional feature to auto-trade, i. You only have to set lot size and put it on auto trade. This way, it can enter the trade and then send you an alert of trade entry, and you can then look at it and set your stop loss, trailing stop and take profit levels.
Alternatively you can indicate take profit and stop loss levels in terms of percentage or pips as well as the lot size lot. This will really be cool. I want an indicator to be consistent. Once an indicator fails to be reliable, it is doomed for me. But if it is reliable, I trust it and it becomes a valuable asset. Much gratitude for this beautifully simple and straightforward reversal strategy, very clear and easy to follow explanation from start to finish I have been using a similar rsi divergence strategy, The EFC indicator you have created looks very interesting.
Finally, some divergent patterns are more stronger than others, so maybe an indication of the divergence strengh, especially if the upper timeframes are in divergence. Again, the EFC indicator looks very promising, just shared my thought of it could be even greater for my personal use. Thanks for the good work. I have 2 suggestions for indicators, the first would be an addition to EFC of coloured box which measures back 50 periods and set to max min price for that 50 period rather like price channel does although not chopping around like price channel , that box could then indicate a potential breakout of price action with the aid of a spot or arrow or change of bar colour.
I also like the idea of keeping non essential bars of neutral colour. I think the main indicator i would to have available for MT4 is market profile based on volume showing the POC and min max of key price area. Watched a wonderful demonstration of this yesterday in a webinar but it is not designed for MT4. Thank you, Tony. It will show me very clear where my destination is.
For good and sharp entry, i need a firm and precise momentum indicator. Combination both of these will definately give me a very good trading strategy. For RSI, i rely on this setup:. It seem this system have both of it. And been translated into much more easier and friendly way for any type of trader. It just that as an additional, these system need to be equipment with any other supporting trend indicator in order to identify the market is trending or ranging..
As for myself i use MA Channel to support this trading system. I like this strategy just what I have been looking for thanks very much for your hard work. Best Regards Graham. RSI is a simple indicator. With your trading strategy, it will be good to develop the system rather than manually plotting and looking at the conditions.
I think you have a great informative site, so keep up the good work but the proof is always in the pudding. Ok - I jumped in and bought the indicator - it looks just like the example below. My only disappointment is the candles don't "stay" so if you leave and want to check back later the trade disappears once TP target is hit.
Also the TP line is not always visible on the chart while the trade is in progress Best to keep the non-strategy candles and chart features as monochromatic i. Really looking forward to getting this indicator. Just one question relating to last 50 candles, I presume it is last 50 or more candles and not necessarily exactly 50 candles back? Very grateful for all the great training!
I look forward to trying it. Their new policies on refunders mean that many of us in fact almost all of us in my Skype Group have been blacklisted for refunding scamster indies and EA's. I don't run it. It's called YTR ex "Your Trading Room" and Vertue Traders both were scam defunctionary - the principals evaporated and the trainee prop traders were left in the lurch - having paid many thousands.
Australian regulator ASIC is totally toothless and disinterested in retail trader scams. Oh yes I remember that group. Terrible to see that happen, hopefully some of the traders were able to continue and find success in your trading. This is just the strategy of trading that I recently stumbled upon as I examined several chart formation and changes in trend both short term and long term.
Your indicator will serve a great purpose of automatically finding those spots of change and making trading a delight that it should be! Just me but like lot of comments, I've been through the indicator jungle. Settled on a few custom ones via ThinkorSwim. What I like about this EFC indicator is it seems to incorporate candle coloration of a temperature kind. Follows a logic hot to lukewarm to cool. In heat of the day it can't easy to get twisted around when money on the line so a 'fast glance' 4 color system really helps.
Should go well with the many strategies you've offered. I'd like to see you backtest using a smaller stop loss rather than the obvious one. I am much more interested in lower drawdown rather than a high winning percentage. I prefer to trade daily and 4 hour charts. How well does your indicator perform on these historically? Looking forward to reviewing your new to be released indicator. You have a good track record of putting out good easy to understand strategies that are profitable.
The bar is set high! Love the strategies you guys post this 80,20 strategy is very simple to apply and wit a little patience to wait for the rules to be met i can see this strategy can be very profitable. Thanks guys for taking time to trace. This looks really good. Just what a newbie needs to improve understanding and results, Thank you for your efforts. Married to a sane breakeven philosophy, it would restore the below average retail trader's faith in ultimately getting to the positive side of the ledger Divergence with RSI alone seems like something that I can do with Maybe this keep it simple method is the ONE we've been waiting for.
Hello, strategy is built on simplicity, which I personally prefer. Definitely I try tomorrow, looking forward to the novelty will be interesting: D. You asked what I would like in an indicator? There is no Holy Grail as most already know, but something that would create a solid indication of where to enter and exit a trade, along with it confirming a trending market.
Although what I would REALLY like in an indicator is a two armed, two legged one that would mentor me - helping me to be much more confident when I pull the trigger and not dither like my nana, and when to bale on a trade, and to walk with me as I trade for a period to guide me in my approach. To make me a professional trader and not a wannabe trader. How can I bolt one of these onto my MT4? PS: No disrespect to any nana's out there, but OMG ask mine to make a decision and you need to sit down and make a cup of tea to give her time - a hereditary trait it seems.
Cup of tea anyone? Combining reversals with a look back for previous market tensions is good. One vital feature for an indicator is that used profitably and frequently the price action it is revealing to the user becomes so familiar that you learn to read the market without the indicator. Is there a way to show on the charts the last 50 periods. Even a line that is plotted 50 periods prior and moves along as each period moves forward. Also, has anyone tested as to which timeframe this strategy works best for.
I'm a relatively new trader so any thoughts and advice would be greatly appreciated. Thanks, going on 10 years of losing God Bless you richly! Chris Endrizzi endrizzi. Looks interesting, and I look forward to learning more on Friday. On the subject of what I look for in a strategy, I look for a system that is "as simple as possible, but no simpler", as some guy with a strange haircut who should have gone to Specsavers reportedly once said!
Seriously, if a strategy is too complicated, it just will not get used. Better to trade a simpler system repeatedly, even if it means the returns are not quite as good as the really complex system. But hey, that's just me! If you like a mess on your charts and understand them then great, but most traders would most likely agree that simple or even "naked" charts price action strategies work best for them. Hi thanks for all your great strategies, I am now finally starting to make some good profits this last 3 weeks keep up this excellent work.
Congratulations Sam! We selected you to receive a free EFC indicator! Contact us at info tradingstrategyguides. With regards to previous comments about win rates, the Holy Grail is not the win rate but it is the Money Management. I like the clarity of your presentations, keep up the good work. Thanks, great advice Graham! Without properly managing your money, you are doomed to fail at the start. Nice strategy. I also liked your fractal strat. Thanks for all the great ideas.
Whichever one comes first. You need to have both elements high the last 50 candles or low the last 50 candles coupled with divergence in price action with the rsi to meet the rules of the trade. Then obviously make the trade when the price action goes above or below that first identified candle. So are the RZs based on that? When the bar closes - no more repaint. No signals 3,7 or 10 bars back. Easy to spot simple chart.
If additional filters is needed, then why not let the indicator do the work and only show the good signals? If it works on all timeframes and all markets it is also good. To put it short: I want the indicator to do most of the calculations for me. Keep the comments coming guys! Remember we are giving away access to three of these special indicators on friday! Everyone who has commented so far is entered into the contest!
But if you have a system with a strict set of rules you follow that more often then not will produce profitable trades, then you are on the right track! Its that constant "tweaking" that makes a trader become good to great! We weeded out most of the false "head fakes" so you should be getting accurate reversal trades with our indicator. Well Oteng, if there ever was an indicator that can do that, I tell you human traders would be obsolate or never needed again in trading.
Brokers will cease to be in business and there won't be anyone on the other side to take one's trades. Or still the banks and big institutions with the money will still get their hands on it and put a way premium price on it to make it impossible for retail traders like you and me to get it. It will be a secret weapon and they'll use it to still beat us to the game. Hello there, Ineresting article! But I still find the strategy somewhat complicated.
Well, why count till to 50 bars and what is the logic behind this? Then, why not 20, 15, 30 or so? Did you bactest it or trade it live? Please let me know. This line will always stay on your chart 50 candles back so there is not a tedious process of counting candles all the time.
To answer your question about why we chose 50, the last 50 candles are still meaningful on your charts on any time frame. I am a new trader and at times one is so confused with so maby stratrgies out there. I have however enjoyed reading this strategy you have posted here. Am going to change my settings to see if I understan it.
Regards Shads shadtrans gmail. People in nature over think and over complicate things. Trading can be simple but some common sense has to be used. Price action is king which is proven over and over again. I believe in simple charts and with what I see you guys have developed looks incredible which doesn't repaint which is crucial and this fullfills all the above I just mentioned which is so important in all aspects of trading.
A great development from a great company. Our philosophy is to make things more simple then what they need to be. We hope our indicator will make peoples lives easier when searching for reversal trades. It's an interesting strategy. I'd like to know if you have any percentage of success information from backtesting. We have back tested the indicator and it did show us great trade entries and exit points.
An indicator which shows the supply and demand zones in all timeframes but especially the longer ones would really be useful. Four hour, Daily, weekly time frame reversal trades are huge! I really think that this indicator will be extremely valuable because in my experience reversals are one of my most profitable trades and I it can be a real pain trying to find it on the charts, this is exactly what I have been looking for.
Absolutely Casey! Thanks for commenting.. Its always a pleasure hearing from a professional trader! In my point of view the most important feature of the indicator is to predict with high percentage of accuracy of the reversal point or zone either over bought or over sold. For this strategy trading strategy, what is the best time frame use to calculate 50 candle for the step. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website.
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|Rsi forex strategies||Below we have a reading that hit the 20 mid cap investing ideas on the RSI and was the low of the last 50 candles. After this decrease, BAC breaks the bearish trend, which gives us an exit signal. On your question about the unique feature I'd love to see in an indicator, what I'd love to see in an indication is an additional rsi forex strategies to auto-trade, i. It can weigh up all the factors and give a suggested probability rating so the trading can decide on his own whether or not to be conservative. Michael Cushman says:. We appear to be at the beginning of a steady bullish trend. The developer of the RSI, J.|
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|Ruble euro forex exchange rate||Once an indicator fails to be reliable, it is doomed for me. After logging in you can close it and return to this page. It works the same time if you change the periods the RSI takes into consideration. But absent that, it would be wise to exit the rsi forex strategies in full when RSI reaches the overbought threshold of For intraday signals, we need to make the RSI indicator more sensitive to the short-term price action. Really looking forward to getting this indicator. Five hours later, we see the RSI entering oversold territory just for a moment.|
|Rsi forex strategies||This website is owned and operated by FlowBank S. It is recommended to accurately follow the money management rules and always set Stop Losses to reduce risks. You have a good track record of putting out good easy to understand strategies that are profitable. Notice the three rsi forex strategies dots on the image. For instance, if the RSI displays a reading of above 70, which implies overbought conditions in the market, a sell position can be initiated when the MACD series shifts from positive to negative crossing below the 0 centreline. In the chart below the price continues to rise but the RSI indicator starts to fall from an overbought position. I am grateful for your Trading strategy guides RSI divergence strategy.|
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