Forex Millionaire RSI Indicator and Strategy Forex Millionaire RSI Indicator and Strategy

The Forex Millionaire RSI Indicator is a trend momentum trading strategy based on just two Forex indicators, one is trend direction (based on smoothed moving averages) and the other is timing based on Forex RSI. The idea of ​​this trading strategy comes from the binary options strategy. Forex Millionaire RSI is also suitable for day trading.

The Forex Millionaire indicator only works with the 1 minute time frame. Buy the green points (enter on the retracement) and sell the red points on the retracement.

• Time range: 1 minute, 5 minutes, 15 minutes.
• Minor currency pairs and major currency pairs
• Chart periods: London and New York.

Metatrader 4 Forex Indicators:

• Forex Millionaire MT4 Indicator
• RSI signal, period 7 (30, 70) entry time.

Trend Momentum Trading Strategy

• Only trade in the direction of the chart trend:
  • Trend up= Green color dots
  • Trend down = Red color dots

Trading Rules Forex Millionaire RSI Indicator 5 Minutes or Higher.

Buy

Green colored dot + arrow RSI signal to buy.

Sell

Red RSI signal colored dots + arrow sell

Exit

Place initial Stop Loss (SL) n.pips above and below the entry line.

Exit position at the opposite arrow, with a predetermined profit target, closing all open positions when the Forex Millionaire indicator changes direction.

Trading Rules Forex Millionaire 1 Minute Chart Scalping

You can use this method as another time frame.

Buy

You can use Fibonacci retracements for the green dot, which is to enter on the first retracement of price.

Sell

You can use Fibonacci retracements with red dots, which is to enter the market on the first retracement of price.

Exit

Exit a position when the Forex Millionaire indicator changes direction or has a predetermined profit target that depends on the currency pair and currency pair volatility (for example, 10 pips for EUR/USD, 12 pips for USD/JPY, 13 pips for EUR/JPY, 15 pips for GBP/USD).

Both approaches have good profitability and are thriving.

Download the RSI Indicator Forex Strategy below the image

In the picture, the Forex Millionaire RSI is in action.

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