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True RSI Indicator v2

$6.00

Description

Original website:  www.theforexarmy.com/rsi-trading-strategy

Original Price: $158

Content: Indicator: TFA True RSI V2.ex4, Video: IC Markets – Advanced RSI Trading Strategies (720p with 29fps).mp4, How to install MT4 files.pdf

After adding the indicator to your chart, please click on the VIEW button to make the bottom indicator appear!

The TRUE STOCHASTIC INDICATOR is also available here for a low price: –> https://budgetforex.com/shop/true-stochastic-indicator/

 

HOW DOES THIS RSI TRADING STRATEGY WORK?

What’s the secret sauce?

So the trick is in finding a True RSI level that price bounces off. Instead of 70, this could be 60. Instead of 30, this could be 40. That is the True RSI of the market. How does this look like? Here’s a screenshot of how our special True RSI Indicator works in finding out key levels where price bounces off.

As you can see in the image, the TFA True RSI indicator has scanned for 5 major swing lows that bounced really nicely (we can adjust the sensitivity and how strict these big swing lows are). So in the past 5 times price bounced nicely – it coincided with RSI being at 32-36% 4 out of 5 times (4 orange boxes show how nicely it bounced, 1 red box to show that it didn’t bounce).

So what does this tell us? It means that there’s an 80% chance approximately that when RSI reaches the 32-36% level, there will be a bounce in price. With this strategy by itself, we already have an edge over the market to trade and make money (really? yes!). But if you wish to really increase your trading profitability, you can add in basic support and resistance and even Fibonacci to this.

WHY 4 OUT OF 5? WHY NOT 8 OUT OF 10 TIES?

Yes, this is possible in the TFA True RSI Indicator settings. We are able to adjust the confidence level (eg. 80% bounce success) and minimum counts required (eg. 10 bounces as the sample size instead of 5).

However, I personally find that 8 out of 10 times might be a bit too hard to attain. You’ll find less setups but you’ll also find better setups when they do appear. My sweet spot currently is 4 out of 5 times.