717# RSI with Slope
Submit by Mario77
RSI with slope is a trend following strategy filtered by RSI, we have three slope indicator and meke trading when all agree in same direction. This trading system has clear rules. You can use this strategy also on renko chart ( box size 5 pips or higher).
Time frame 15 min or higher. On 5 min Time Frame there are more false signals.
Financial Markets: any.
100 pips momentum (this indicator is formed by two slopes green line and blue line);
Evolution slope (21 period)
Renko channel (this indicator determines the dynamic supports and resistances;
Fisher ( optional directional indicator based on fisher transform ) 25 period;
RSI Histogram 813 period) optional.
Trading Rules RSI with Slope
The blue slope cross upward yellow line slope
evolution slop is green.
Optional: confirm with RSI Histogram > 0
The blue slope cross donward yellow line slope
evolution slop is gred.
Optional: confirm with RSI Histogram < 0
Exit position with predetermined profit target: ratio 1.2 stop loss or when slope cross in opposite direction.
Initial stop loss on the previous swing high/low.
The profitability of this strategy depends by range.
If the range is little does not make trading.
This strategy wins
In the pictures RSI with Slope in action.