RSI Lido Forex Scalping Strategy
This is a scalping strategy that uses an RSI Lido indicator. There are also various indicator that is used alongside with the main indicator to fully grasp the activity of the market.
This system is useful in a 15 minute or higher timeframe and works on any currency pairs.
Metatrader Indicators:
- Any MA RSI R2
- RSI Lido (5) with Ma smoothed (4 period).
- Simple rules for RSI Lido Forex System
Buy Entry:
- Arrow Buy (green color) is greater than line yellow and pink.
- Line Yellow is greater than line pink.
- RSI Lido indicator is greater than 35.
Sell Entry:
- Arrow Sell (red color) is less than line yellow and pink.
- Line yellow is less than the pink line.
- RSI Lido indicator less than 65.
Note: Don not enter trade if the Arrow buy or sell is between yellow and pink line.
Exit Position:
- At the level of the Fibonacci pivots.
- When the star appears on the bar.
- Profit Target predetermined, depends by time frame and currency, or ratio 1:1.5 stop loss.
- Place stop loss on the previous swing.
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