RSI Unlimited (RSI Unlimited) | Forex indicator download- MT4/MT5 resources- MetaTrader 5 resources
In my experience, this approach has a high probability of producing successful trades.
5 minute timeframe (other timeframes work too)
EUR/USD, GBP/USD, AUD/USD, USDJPY, EURJPY (any currency pair with sufficient daily volatility)
New York and London trading sessions work best due to liquidity
Trend settings:
Look for hidden divergences between oscillators (RSI Unlimited and/or standard RSI) and price movements shown by the Semafor indicator. Match significant moves in price with moves in oscillators and look for oscillators to exceed their previous moves while price does not. This usually occurs at daily average Fibonacci levels. Trade with the trend and target Fibonacci levels for exit. Set your stop loss outside the price move used to create a hidden divergence, or if it is too far away, set it above the Fibonacci levels or moving averages.
The RSI Unlimited and RSI indicators have overbought and oversold settings built-in that can be set manually to notify you when the oscillator breaks through the levels you set. You can set the level of recent swings and then get notified when it breaks out - so you can determine if it's an entry point.
Invert settings:
Look for regular divergence in the RSI Unlimited following continued price volatility. Then wait for the hidden divergence setting to appear in the reverse direction in RSI Unlimited.
5 minute timeframe (other timeframes work too)
EUR/USD, GBP/USD, AUD/USD, USDJPY, EURJPY (any currency pair with sufficient daily volatility)
New York and London trading sessions work best due to liquidity
Trend settings:
Look for hidden divergences between oscillators (RSI Unlimited and/or standard RSI) and price movements shown by the Semafor indicator. Match significant moves in price with moves in oscillators and look for oscillators to exceed their previous moves while price does not. This usually occurs at daily average Fibonacci levels. Trade with the trend and target Fibonacci levels for exit. Set your stop loss outside the price move used to create a hidden divergence, or if it is too far away, set it above the Fibonacci levels or moving averages.
The RSI Unlimited and RSI indicators have overbought and oversold settings built-in that can be set manually to notify you when the oscillator breaks through the levels you set. You can set the level of recent swings and then get notified when it breaks out - so you can determine if it's an entry point.
Invert settings:
Look for regular divergence in the RSI Unlimited following continued price volatility. Then wait for the hidden divergence setting to appear in the reverse direction in RSI Unlimited.
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