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RELATIVE STRENGTH INDEX (RSI)
• Period: 1
• Apply to: Close
• Style: 1-pixel black/white color
• Levels: 10 Description – Buy
• 50 Description – Wait
• 90 Description – Sell
MOVING AVERAGE
• Period: 5
Shift: 0
Method: Exponential
Apply to: Close
Style: 1-pixel yellow color
• Period: 8
Shift: 0
Method: Exponential
Apply to: Close
Style: 1-pixel blue color
• Period: 200
Shift: 0
Method: Exponential
Apply to: Close
Style: 2-pixel red color
• Period: 13
Shift: 0
Method: Exponential
Apply to: Close
Style: 1-pixel white color
• Period: 21
Shift: 0
Method: Exponential
Apply to Close
Style: 1-pixel purple color

With this strategy, the Relative Strength Index (RSI) and the Moving Averages (EMAs or Exponential Moving Averages) are used to help us get signals for trend reversals.

The reason we use RSI is to get the “overbought” and “oversold” momentum. The 200EMAs are used as the support and resistance when the market is at Level 50. You either sell or buy when the EMAs bounce off the 200EMA.

SELL: When all EMAs meet up at Level 90 and have all completely bend down pointing to the start of a downtrend. Make sure all the EMAs are beneath the 200EMA and the 200EMA is above the EMAs.

BUY: When all EMAs meet up at Level 10 and have all completely bend up pointing to the start of an uptrend. Make sure all the EMAs are above the 200EMA and the 200EMA is beneath the EMAs

You do not sell when the EMAs are not all bent down and when the 200EMA is not above all the EMAs.

You do not buy when all the EMAs are not bent up and when the 200EMA is not below the EMAs.

The 200EMAs are used as the support and resistance when the market is at Level 50. You either sell or buy when the EMAs bounce off the 200EMA.

Up trend, trend reversal when all EMAs are at Level 50.

Down trend, trend reversals when all the EMAs are at Level 50.

THIS STRATEGY BEST WORKS ON LOWER TIME FRAMES AND IS VERY GOOD FOR SCALPING BUT CAN BE USED ON HIGHER TIME FRAMES. ANY ZOOM LEVEL IS APPLICABLE.

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