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.