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RSI Better price forex strategy

In some trading situations, it is much better to fracture the intended position into few smaller trades. Usually, once we achieve full position size the average price of the trade will be better, compared to entering the whole position at first signal. If done correctly, this type of position building does nothing else, than provide us with better price for our entry.

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This forex strategy experiments with multiple entry done in the direction of trend. Once we achieve better price position is liquidated at overall profit reached instead of specific price.Therefore, strategy considers the fact that with bigger exposure, comes bigger risk. Therefore, the more trades opened, relatively faster the liquidations (less pips needed to achieve same profit as the position gets larger).

Strategy is provided with free expert advisor, to serve mostly as the tool of optimization and gauging risks coupled with this type of position building. It is little to crude to be ever used in real trading situations. Let us know it is helpful in the comments ! If you like a powerful 2.0 version will be prepared.

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

Used forex tools and indicators

Exponential moving averages EMA. Indicators are working in two tandems (500,250) and (250,100). Together they identify the trend and are able to filter out its change. With this type of trading it is important, to never fight the trend.

Relative strength index RSI. Short trades entered with RSI over 70, long ones with RSI below 30 line.

Building positions: New trade in the same direction is entered only if loss of all combined trades is less than -1 for each opened trade. Max number of trades is limited to 5.

Forex strategy rules

SELL

Both fast EMAs are trending below its slow counterparts (EMA 250 below 500, EMA 100 below 250). Downtrend is therefore confirmed.

RSI rises above 70 line. Trade is triggered on new candle open, if the floating account profit is less or equal to zero.

Positions are liquidated at overall profit of 13 or at overall loss of -21 (account base currency on 0,01 lot).

BUY

Both fast EMAs are trending above its slow counterparts (EMA 250 above 500, EMA 100 above 250). Uptrend is therefore confirmed.

RSI falls below line. Trade is triggered on new candle open, if the floating account profit is less or equal to zero.

Positions are liquidated at overall profit of 13 or at overall loss of -21 (account base currency on 0,01 lot).

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We recommend you to use this forex strategy with one of our trusted forex brokers

(STP/ECN with MT4 bridge).

To win you must trade with broker on your side.

Disclaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.