1# Extreme overbought and oversold RSI

Submit by Janus Trader

This forex strategy for metatrader mobile trend momentum based on oscillator RSI with a group of Moving Averages and an on the main chart as filter an channel of exponential moving averages.

This trading strategy should only be applied to currencies such as GBP/USD, GBP/JPY, EUR/AUD, EUR/NZD, GBP/CAD. Best Nasdaq Tec; Vix Index.

Now I show you the steps to build the template for images: main chart and indicators. See the video.

Trading Rules Extreme overbought and oversold RSI

Buy entry

Group of moving averages of the RSI touches or goes below the oversold 8 level of the RSI.

The main moving averages at least up to that with period 11 cross upwards the moving average 34 periods.

In the main chart, the price closes above the exponential moving average channel.

Sell entry

Group of moving averages of the RSI touches or goes above the overbought 92 level of the RSI.

The main moving averages at least up to that with period 11 cross downwards the moving average 34 periods.

In the main chart, the price closes below the exponential moving average channel.

Exit Position

Place initial stop loss below above the previous swing high/low.

Profit target ratio stop loss minimum 1:1.

Tips:

 it is very important to move the chart to the center of the smartphone screen as to get correct signal;

 to enable this, set the horizontal view option to the left of the screen as below. 

Examples of trades

Share your opinion