I just came up with this great strategy and i'm currently backtesting it.
I'm sharing it, maybe you'll find it interesting!
This strategy uses
2 custom indicator CM RSI-EMA (you can find it in the user library)
1 custom indicator CM Stochastic multi timeframe (you can find it in the user library)
as reference i use Bollinger bands and pivot of course
first RSI-EMA (the blue one) has settings RSI: 7 EMA:8
second RSI-EMA (the red one) has settings RSI: 20 EMA: 12
CM Stochastics has default values
Strategy:
entry
if in RSI -EMA (blue) rsi crosses above the blue area and RSI-EMA(red) rsi cross above red area = BUY
if in RSI -EMA (blue) rsi crosses below the blue area and RSI-EMA(red) rsi cross below red area = SELL
exit
when in BUY look only at RSI-EMA (red) and exit when the white area goes below (or touches) red area
when in SELL look only at RSI-EMA (red) and exit when the white area goes above (or touches) red area
In the graph i've traced buy (green) and sell (red) dotted lines to show you how it works
I use only 1D chart
CM Stochastics are used just as a confirmation of the RSI-EMA signal
Enjoy and let me know if it works for you!
I'm sharing it, maybe you'll find it interesting!
This strategy uses
2 custom indicator CM RSI-EMA (you can find it in the user library)
1 custom indicator CM Stochastic multi timeframe (you can find it in the user library)
as reference i use Bollinger bands and pivot of course
first RSI-EMA (the blue one) has settings RSI: 7 EMA:8
second RSI-EMA (the red one) has settings RSI: 20 EMA: 12
CM Stochastics has default values
Strategy:
entry
if in RSI -EMA (blue) rsi crosses above the blue area and RSI-EMA(red) rsi cross above red area = BUY
if in RSI -EMA (blue) rsi crosses below the blue area and RSI-EMA(red) rsi cross below red area = SELL
exit
when in BUY look only at RSI-EMA (red) and exit when the white area goes below (or touches) red area
when in SELL look only at RSI-EMA (red) and exit when the white area goes above (or touches) red area
In the graph i've traced buy (green) and sell (red) dotted lines to show you how it works
I use only 1D chart
CM Stochastics are used just as a confirmation of the RSI-EMA signal
Enjoy and let me know if it works for you!