Ichimoku and RSI trading forex strategy

This ichimoku based trading system uses RSI to time the entry. Trailing stop is adopted to liquidate the position. The system takes infrequent trades and it is among the most conservative trading system we have ever published. It was tested on over 13 years of historical data (tick) confirming its potential and profitability. The strategy has a high profit factor and relatively low draw down.

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Complex ichimoku indicator is used to identify the trend. To stay on the side of long term trend, higher calculation period is used. The strategy has a high profit factor and relatively low drawdown. Even though extremely conservative, it can be made more aggressive by testing it, and adapting on smaller scale timeframes (5 min and 15 min). Therefore, the strategy is provided with free expert advisor by theforexkings – enjoy.

 

Used forex tools and indicators

Ichimoku kinko hyo (90,260,1040) the main tool used to establish the trend. Once we do so, we will be looking only for the entry in confluence with that trend.

 

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.

 

Relative strength index(RSI 10) RSI is used to time the entry. Full RSI signal completion is required to trigger trade (RSI returning back to neutral zone after initial signal.

 

Trailing stop – advanced, trailed behind every candle high/low with additional distance 90 pips is applied.

 

Forex strategy rules

 

SELL

The upper cloud edge, (Cloud consisting of span B and span A line) is above the price.

Span B is above the span A.

Kijun sen (blue line) trends above tenkan sen (red line).

 

We wait for RSI to rise above the RSI 70 line. Once it closes back below it, we enter the trade short on new candle open.

Trailing stop is placed above the high of last closed candle + extra 90 pips deviation above.

 

BUY

The bottom cloud edge, (Cloud consisting of span B and span A line) is below the price.

Span B is below the span A.

Kijun sen (blue line) trends below tenkan sen (red line).

 

We wait for RSI to fall below 30 RSI line. Once it closes back above it, we enter the trade long on new candle open.

Trailing stop is placed below the low of last closed candle - extra 90 pips deviation below.

Get MT4 expert advisor trading this forex strategy

For best results, 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.

 

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ABOUT US

THEFOREXKINGS

“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

—  Marian, Proprietor of TheForexkings.com