Day Trading with the RSI: Building a Trading Strategy from a 2 Period RSI! π―
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Use the overbought or oversold bar for entery
Too noisy
Use this RSI on daily timeframe. Exit on stoch signal cross stoch 5,3,3. Try it
I use a 3 period RSI for trading divergence, it works great
Try using RSI-2 with bollinger Band. Buying above the lower band.
is good one
Been testing this strategy for a week. Used with stoch and multiple time frames i'm achieving 75-80% accuracy on the Dax, it is a trend chasing strategy and results wont be as strong in a choppy market. If your a trader that gambles more than you trade, following rules incorporating this technique will help you.
THANKS MARK U ARE A GENEROUS MAN, TUTOR
I would be surprised if this was more profitable than regular settings also on 15 min just because of the size of the move + execution window. I'll have to find out
with pivot points that could be a nice set up..if you find oversold condition on pivot point ,S1-2-3, going long…vice verca on overbrought condition @ R1-2-3…but price action is 1st priority
I think your strategy could be very good at picking up potential reversals rather then pullbacks
I would set it at 95 and 5 or even 98 and 2
200ema LT used with either 5ema or 8 ema ST. I'm pretty tight with 97 and 3 on 2rsi.Price under 200ema/above 8 ema…RSI above 97 is a shorting possibility. Add S/R levels and it does fine.
use 95 as overbaugt and 5 as oversold
Update BRO, l love this strategy for scalping, I had consecutive successful small pip gains. It all adds up on the end and if you like constant action, this is it. Thank you very much for all videos you are making, the are very useful to all of usππ. Keep it coming BROπ
Too many false entry signals.. just my thoughts on this strategy..π€.
I'll give it try BRO, I like scalping action very much so…Thanks again BRO.
I have EXACTLY same idea few weeks ago as a friend of mine start experimenting with very short RSI + Stoch ideas, It's looking really nice, but for now I don't use it. Probably a massive backtest could show it's potential.
Same dynamics with the EMA200/STOCH strategy. I have a good feeling about this one too. RSI is such a strong oscillator to cap extremities, all the more overstretching it.
Am I right in saying the bigger moves are coming off the second time it becomes over sold after the big moves?