RSI with EMA Channel Daily Strategy

Rsi with EMA channel is trading system for higher time frame based on Relative Strength Index and exponential moving averages. A simple yet profitable strategy to trade the daily charts. It’s made up of the RSI indicator and a custom EMA channel . This strategy can be used for larger profit targets ( even up to 1000 pips).
Time frame 4h and daily.
Currency pairs: any.

Indicators
Exponential moving average 5 period, close , high.
Exponential moving average 5 period, close , low.
RSI (6 period).

Trading Rules
Buy
  • Condition 1: Price above the exponential movig average high;
  • Condition 2: RSI (6) back above 70 from below 30;
Execute buy order with stop-loss below the previous swing low.
Scaling out: Take 50% partial profit at risk-to reward 1:1 and the rest at 1:2 or at previous swing highs (trail your stop up).

Sell
  • Condition 1: Price below the exponential movig average low;
  • Condition 2: RSI (6) back below 30 from above 70;
Execute sell order with stop-loss above the previous swing high.
Scaling out: Take 50% partial profit at risk-to reward 1:1 and the rest at 1:2 or at previous swing lows (trail your stop down).
In the pictures two winners examples of RSI with EMA Channel Daily Strategy.
RSI with EMA Channel Daily Strategy
RSI with EMA Channel Daily Strategy

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