Simple Forex strategies at RSI — to trade need to select 4-hour chart of the currency pair EURUSD and set the oscillator RSI (10) levels: 30, 40, 50, 60, 70.
Trade is deferred orders Buy Stop and Sell Stop.
Conditions for trading
Set the pending orders to buy, if the indicator forex RSI (10) crosses the bottom up your level 50, but it must wait until the closing of the candles, which happened at the intersection.
Warrant Buy-Stop should be set to the maximum of candles, which happened at the intersection of the indicator RSI (10) of its line 50 +15 points.
Stop-loss set at the nearest local minimum. In addition, the position to buy should be closed if RSI has crossed the level of 50 in the opposite direction.
As soon as the RSI (10) crosses up the level of 60 — set the 2-nd order to add to positions at a distance of 15 points from the maximum of candles, which happened at the intersection with a level 60, but the volume of 2 times smaller than the original (first) or equal the first (more risky option). Stop-loss order — just below the local minimum at the moment.
For trade I recommend to use the trailing stop at 100 points.
As soon as the RSI (10) crosses the downward level 70 — you must close all open positions!
The positions of the same can be closed after the penetration of the trendline for the RSI (10) — see detail in the figure (vertical red line pukntirnye) — sometimes it is the intersection provides earlier signals of price reversal.
For transactions on SELL — the reverse condition!
The template for Metatrader 4 I do not spread, because except the indicator RSI (10) with the levels, it is nothing.
