is measured by the RSI dipping below level 30 on the indicator and is used in conjunction with a trading setup, usually a buy signal. RSI Relative Strength Index, the RSI, although referred to as index is not really an index so the name is a little misleading. If you set the TradingStyle parameter to 1 EA will trade over one center level the one you will enter. Just think of the RSI indicator as an oscillator that measures momentum over a set period (look back period) and will indicate when the momentum has pushed price to far in one direction (oversold/overbought). RSI is above the 50 level.
Now you can fully adjust RSI trading levels. Short Entry, sell arrow on the main chart if the histogram of the repulse indicator is above.20 level shoet entry at the openig of the next bar. Enjoy, and happy trading! How To Trade The 5X5 RSI Trading System Forex Example. Other initial details about the trading strategy: Time Period, any time frame can be used including short term for day trading or longer term charts for a swing trading approach with the 5X5 RSI trading system. It can rever se whole trading system, so you can decide by the market condition what entry mode fits the best at that moments. Depending on the trading system, when the RSI is above the 70 level, the strength of price is considered to have been strong and a reversion is expected. Click here if You need the instructions of how to download a product? The RSI is used as a confirmation. Also we use our unique way to control the risks when auto trading. Metatrader Indicators, rSI signal Indicator ( overbought level 90, oversold level 10 Repulse Indicator: (level for buy -0.20- level for sell.20 Daily Range indicator; Bar Timer.