Lollo22

RSI-EMA Strategy by Lollo22

FX:AUDUSD   Australian Dollar/U.S. Dollar
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!
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