RSI 50 X Scalping System (RSI 50 X Scalping System) - MT4/MT5 resources
RSI 50 X (Crossover) Scalping System
Rules <br>Trolls.
Discussion of other unrelated systems.
Discussion of business materials (brokers, paid products, etc.)
Attacking and disrespecting other members.
You can add tweaks to the system, but you can't change the main concept!
Sharing other irrelevant metrics will be ignored.
The group focuses on manual learning methods, automation is not a strategy. Use threads as a means to gain monetary benefits such as donations. Rule violators will be ignored without notice!
Disclaimer - I have been trading for 5 years. Trading is not my only source of income. I love testing systems, that's part of the fun for me. I'm not saying this is a perfect system, but it can put you in the right position in the market to a large extent. The bottom line is, as long as the core concept remains, add, remove, or modify anything around the system - we're all about making as much money as possible.
schedule
*WIP* M1 (RSI 5/RSI 15), M15 (RSI 30/RSI H1), H1 (RSI H4, RSI D1)
Buying rules:
RSI(5M) and RSI(15M) both broke above 50 on the same bar
Selling rules:
RSI(5M) and RSI(15M) both broke below 50 on the same bar
*Clear example in screenshot*
Exit rules:
How you exit a trade can vary greatly based on many variables. I don’t want to over-create strict exit rules. Give it a try, do some research and see what works for you. Some ideas: 1:1 with recent fluctuations. Set points based on ATR or currency pair. Market structure concepts such as supply and demand, fair value gaps, support and resistance, and key levels.
Ideology (why it works)
1. While I tend to think most indicators are useless, the RSI is probably the most commonly used and respected indicator
2. The RSI 50 level itself creates a strong entry.. Then you add MTF analysis
3. One indicator on the chart keeps the system simple and allows you to focus during trading without over-incorporating other indicators into a simple and clear system
Main concepts (take screenshots as an example)
Notice how/when the RSI crosses together
index:
M5 RSI - Length 14
M15 RSI - Length 14
Rules <br>Trolls.
Discussion of other unrelated systems.
Discussion of business materials (brokers, paid products, etc.)
Attacking and disrespecting other members.
You can add tweaks to the system, but you can't change the main concept!
Sharing other irrelevant metrics will be ignored.
The group focuses on manual learning methods, automation is not a strategy. Use threads as a means to gain monetary benefits such as donations. Rule violators will be ignored without notice!
Disclaimer - I have been trading for 5 years. Trading is not my only source of income. I love testing systems, that's part of the fun for me. I'm not saying this is a perfect system, but it can put you in the right position in the market to a large extent. The bottom line is, as long as the core concept remains, add, remove, or modify anything around the system - we're all about making as much money as possible.
schedule
*WIP* M1 (RSI 5/RSI 15), M15 (RSI 30/RSI H1), H1 (RSI H4, RSI D1)
Buying rules:
RSI(5M) and RSI(15M) both broke above 50 on the same bar
Selling rules:
RSI(5M) and RSI(15M) both broke below 50 on the same bar
*Clear example in screenshot*
Exit rules:
How you exit a trade can vary greatly based on many variables. I don’t want to over-create strict exit rules. Give it a try, do some research and see what works for you. Some ideas: 1:1 with recent fluctuations. Set points based on ATR or currency pair. Market structure concepts such as supply and demand, fair value gaps, support and resistance, and key levels.
Ideology (why it works)
1. While I tend to think most indicators are useless, the RSI is probably the most commonly used and respected indicator
2. The RSI 50 level itself creates a strong entry.. Then you add MTF analysis
3. One indicator on the chart keeps the system simple and allows you to focus during trading without over-incorporating other indicators into a simple and clear system
Main concepts (take screenshots as an example)
Notice how/when the RSI crosses together
index:
M5 RSI - Length 14
M15 RSI - Length 14
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