| Rules &
Settings 1. Place an 8
period RSI. Place an 8 period MA of the RSI and Bollinger Bands
with a 20 period setting, also on the RSI.
2. When RSI is below the middle
Bollinger Band. Go long on the open of the next bar after
the RSI crosses the MA form below to above
When RSI is above the middle Bollinger Band. Go short
when RSI crosses the MA from above to below/
3. Stop loss is the low/high of the previous bar.
4. When profit is +40 pips or more, move
SL to break even.
5. Use trailing stops of 25 pips
afterwards. For testing purposes we will not use that. Instead
we will use 50 pips TS changed on daily basis.
4. Look at the charts once per day, just before 0.00 GMT. This
way you know which pairs are approaching the set-up.
5. Wait for complete close of bar to make
sure that the cross is real, then place the trades. So, when
there is a start of a cross, you have to wait for next day 00.00
GMT to make sure the cross has stabilized. Then you enter the
market. It is a daily method.
Example Chart:
 |
Click to maximize |
Tips for placing indicators:
First set RSI as usual, then drag MA from navigator window
into the window of the RSI. Then select apply to first
indicators data.
Repeat for bollinger bands
Download template
Click here to see positions
and current results |
