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135# Papaya Forex Strategy MT4

Trend Momentum Reversal Strategy

RSI Trading

Submit by Alexander

 

Papaya Forex Strategy MT4 is a trend momentum reversal strategy based on the RSI and relatives zone of the RSI. RSI with Exponential Moving Averages are used to help us get signals for trend reversals.

Time Frame 5 min or higher.

Currency pairs Major and Minor, Gold and Silver.

Metatrader indicators setting:

Moving Average Exponential 3 period, median price.

Moving Average Exponential 5 period, median price.

Moving Average Exponential 7 period, median price.

Moving Average Exponential 9 period, median price.

Moving Average Exponential 11 period, median price.

Moving Average Exponential 13 period, median price.

Moving Average Exponential 21 period, median price.

 

RSI Zone settings:

PERIOD – 1

LEVELS – 10 -20 – 30 – 40 – 50 – 60 -70 – 80 – 90.

RSI is to get the overbought and oversold momentum of the markert, so the strategy has 90 (strongly sell) ,50 (wait) and 10 (strongly buy)

Beast super signal is optional.

Papaya Forex Strategy MT4 trading rules

Trading only in the direction of trend momentum.

Buy

When all moving averages meet up at level 10, they all bendand crosses upward.

 

Sell

When all moving averages meet up at level 90, they all bendand crosses downward.

 

Exit position at the oposite crossover of the moving averages.

Profit target at the suppor or resistance level or ratio stop loss 1.2.

 

 

When the market is at level 50 (wait) so you can either sell or buy as the other moving averages bounce off on Moving average 30 black.

Papaya forex strategy is winning.

In the pictures Papaya Forex Strategy MT4 in action.

Papaya Forex Strategy MT4
Papaya Forex Strategy MT4
Papaya Forex Strategy MT4
Papaya Forex Strategy MT4
Papaya Forex Strategy MT4
Papaya Forex Strategy MT4

Share your opinion.

Comments: 2
  • #2

    Luiz (Thursday, 24 October 2019 14:42)

    Hi,

    The dreciption says:
    RSI Zone settings:
    PERIOD – 1

    But in the template RSI PERIOD = 14.
    For me, the best is 14 like in the template.
    Only correct the text description.

    And really, with Renko the system works great. Congrats !! :-)

  • #1

    Luiz (Wednesday, 23 October 2019 01:40)

    Hi,

    Very good system to use also with RENKO !
    Congrats !!

Papaya Forex Strategy MT4
Papaya Forex Strategy MT4
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