A case of entering on RSI and Bands reverse trading and closing at the Middle line
Hello!
This is Satori about FX research.
Today we deliver an example of “entering on RSI and Bands reversal and exiting at the Middle Line.”
The figure below is the GBPUSD 1-hour chart for the example of entering on RSI and Bands reversal and exiting at the Middle Line.
http://livedoor.blogimg.jp/fxmt4indicator/imgs/4/1/41fa99f3.gif
There are seven lines on the Bollinger Bands, with the middle line being the MiddleLine = MA, and two outer lines from the inside are Sigma2.5, Sigma2, Sigma1, with two lines on both the upper and lower sides.
Signals: for a buy, the green upward arrow indicates a preliminary buy signal when volatility increases and the candle close crosses above Sigma2.5; the blue upward arrow indicates a buy entry signal when volatility decreases and the candle close crosses Sigma1 and RSI approaches 50; the blue check mark indicates a buy exit when the position crosses above the MiddleLine at the close.
For stop-loss reference, in buy cases, the blue horizontal line is used.
The mechanism assumes expansion followed by contraction (Expand then Squeeze).
Since signals are judged by the prior candle’s close at the open of the new candle, entries can be slow, but this may allow exits to extend, sometimes more advantageous than real-time trading.
Real-time signals, emails, and alerts are also available, so please use them flexibly as needed.
The example above shows gains of +2 pips, +16 pips, and +18 pips, over about three and a half days including a weekend; excluding the weekend, about one and a half days.
The above figure displays the initial settings for the currency-free version, so trend determination is not performed.
Since the aim is to capture expansion followed by contraction, there is no need to look at trends, so there is a possibility of short-term consecutive wins by buying and selling.
I think this indicator can also be useful for short-term charts.
However, this is a method unique to indicators that can switch time frames and currencies immediately.
There are related EAs as well, but please understand that the latest version of the EA and the indicator do not use the same logic.
The indicators related to today’s article are as follows.
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