RSI Killer strategy
To set this RSI indicator
you need to set it to 2 types of settings namely RSI14
and RSI3. To get the graph
indicator like above you need to do some
step for the purpose of
setting your indicator. You can follow the setting method
these are: -
i.) RSI 14
Step 1
Click on INSERT then
INDICATOR then OSCILLATORS then RSI
and it will come out of
the box on your screen.
Step 2
Click on PARAMETERS and
you enter the following settings:
➢ Period = 14
➢ Apply to = Close
➢ Style = DodgerBlue
➢ Fixed Minimum = 0
➢ Fixed Maximum = 100
Step 3
Click on LEVELS and you go
to the following settings:
➢ Level = 30
➢ Level = 70
➢ Level = 50
➢ Style = Silver
Step 4
Click on VISUALIZATION and
you enter the following settings:
➢ Click on the ALL
TIMEFRAMES and SHOW IN DATA WINDOW boxes
ii.) RSI 3
Step 1
Click on INSERT then
INDICATOR then OSCILLATORS then RSIand it will come out of the box on
your screen.
Step 2
Click on PARAMETERS and
you enter the following settings:
➢ Period = 3
➢ Apply to = Close
➢ Style = DodgerBlue
➢ Fixed Minimum = 0
➢ Fixed Maximum = 100
Step 3
Click on LEVELS and you go
to the following settings:
➢ Level = 20
➢ Level = 80
➢ Level = 50
➢ Style = Silver
Step 4
Click on VISUALIZATION and
you enter the following settings:
➢ Click on the ALL
TIMEFRAMES and SHOW IN DATA WINDOW boxes
4.2 METHODS OF USE
The RSI14 and RSI3
indicators that you have set can help you to identifies market
conditions as either OVERBOUGHT or OVERSOLD.But you need to be
careful about using both RSIs as a guidebecause these two RSI
indicators need to be in the same state forallowing you to determine
whether the market is OVERBOUGHT or
OVERSOLD. How do you know
if the market is OVERBOUGHT or
OVERSOLD? See the diagram
below: -
OPEN SELL POSITION
- Make sure the RSI 14 tracks or crosses line 70 upwards (preferably
at points 70 - 75) and RSI 3 exceeds line 80 and above (preferably at
points 90 - 95).
- The condition of both
RSI 14 and RSI 3 must be in parallel between each other each other to
the maximum extent such as stated above.
- Please refer to the diagram above as guides and references.
- Please refer to the diagram above as guides and references.
- If one of the RSI is
approaching overbought you have to wait for the next RSI approaching
overbought in other words these two RSI's are up to date.
- To maximize profit after
you open the SELL position you can wait so one RSI is either RSI3 or
RSI 14 tracks its destination first. I recommend you take advantage
when RSI 3 is approaching oversold for a factor RSI 3 is faster its
movement from RSI14.
OPEN BUY POSITION -
Make sure the RSI14 tracks
or crosses line 30down (preferably at points 30 - 25)
and RSI3 goes beyond line
20 (preferably on point 10 - 5).
- The condition of both
RSI 14 and RSI 3must be in parallel between each other each other at
a minimum like thatstated above.
- Please refer to the
diagram above as guides and references.
- If one RSI approaches
oversold you'll have to wait for the next RSI to come oversold in
other words these two RSIs in parallel and evenly.
- To maximize profit after
you open the LONG position you can waiting for one of the RSI's The
RSI 3 or the RSI 14 tracks its destination even further first. I
recommend you take a profit when RSI 3 approaches overbought because
the RSI 3 factor of time is faster than the RSI 14.
Through this method, you
can apply to all your TIMEFRAMEs
but the ideal timeframes
are in H1, H4, D1, W1 and MN.
To avoid making a mistake
when entering the position, here I would like to provides some tips
and techniques on RSI 14 and RSI 3 that you need all obey: -
➢ Make sure you enter
the LONG or SHORT position when both-the two RSIs approached
their destination in parallel and as described above.
➢ If you enter the
LONG position follow the tips below: -
RSI14 - Make sure the RSI
14 tracks or crosses line 30 and preferably down to points 25 - 30.
AND RSI3 - Make sure the
RSI3 tracks or crosses line 20 and well below the point at 5 - 10.
➢ If you enter the
SHORT position follow the tips below: -
RSI 14 - Make sure the RSI
14 tracks or crosses line 70 and preferably at points 70 - 75.
AND RSI 3 - Make sure RSI
3 tracks or crosses line 80 and preferably at points 90 - 95.
➢ Avoid entering LONG or
SHORT positions when both these RSIs do not track their destinations
and are inconsistent its position as shown in the diagram above
because it is feared that the trend will change.
➢ Make sure you
reference all TIMEFRAMEs to avoid any mistake while entering the
trend. Start from TIMEFRAME big and down. Examples are MN, W1, D1,
H4, H1, M30, M15, M5 &
M1.
➢ TIMEFRAME is best for
reference to MN, W1, D1, H4 and H1
➢ Make sure you take advantage of one
of the RSI'sapproaching the destination. Here I recommend you take
profitwhen RSI 3 approaches overbought or oversold due to factor
intervals faster than RSI 14.
➢ To prevent the occurrence of FALSE
SIGNAL in the middle trends such as the diagram above where the trend
changes at in the middle of both RSI then I recommend you wait both
these two RSIs are approaching both destinations described above.
➢ Finally be convinced of the
position you have entered by calming yourself from the turmoil of the
soul. Follow and be sure of the indicators you use.
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