christian.langfors

NEW RSI ALERT/SIGNAL ADDED

FX:EURAUD   Euro / Australian Dollar
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Added a new signal to the "algo" that alerts when certain conditions emerge (there is a EMA-cross over already pushed): Alert when RSI cross above or below 70 & 30 on a 15min chart.

Personally I like this alert since it can be traded in many ways and it alerts me to look for hedge if core position is long and RSI drops below 70 (or better when there is a negative divergence building up). Obviously this works best on FX-pairs that doesn't trend too often/strong and tend to have "time zone" anomalities.

You have to understand what RSI is before you go on these alerts; a high RSI means that the move is strong. That is, a cross below 70 doesn't mean trend will change just like that (look at the attached chart where alerts marked with green and red lines). Usually it will make a new high after "the cross-below-70" and the "trend change top" is done when price makes a higher high when RSI makes a lower high (i.e. a negative divergence).

!!TO BE PERFECTLY CLEAR; THIS IS NOT AN SUGGESTION TO GO SHORT NOR LONG, IT IS UP TO YOU TO DECIDE HOW TO TRADE THE ALERT!!

Alerts pushed here in real time: https://twitter.com/FXRobotScanner and looks like this:
AUDNZD M15 RSI (14) Cross Below 70 1,0586'8 17.4.2018 9:29:58

Where "AUDNZD" is instrument name, "M15 RSI (15) Cross Below 70" is the alert name, "1,0586'8" is the price when alert triggered and "17.4.2018 9:29:58" time when triggered.

GL!
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