Simple RSI Forex Scalping Strategy

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Simple RSI Forex Scalping Strategy

This is a scalping strategy that focuses on RSI indicator and accompanied by other indicators for confirmation. This system works 15 minutes timeframe and is applicable to any currency pairs.

Metatrader Indicators:

  • Market pulse indicator (10, 1, 20) with dll file;
  • RSI smoothed indicator (5,5,0,5,9,3) overbought: 0.5-1.05; oversold:-0.5-1.05:
  • Ehlres-cog (10 period).

Rules:

  • Enter trade when aqua line market pulse is greater than orange line.

Buy Entry:

  • Market pulse aqua line is greater than orange line.
  • RSI indicator in oversold Zone crosses upward.
  • Ehlres-cog crosses upward.

Sell Entry:

  • Market pulse aqua line is greater than orange line.
  • RSI indicator in oversold Zone crosses downward.
  • Ehlres-cog crosses downward.

Exit position:

  • Ehlres-cog must cross downward for buy and upward for sell.
  • Take profit is predetermined 8-14 pips pr on the pivot levels.
  • Place stop loss at 10-15 pips.

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