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This trading strategy is designed for trading on the EURUSD currency pair, preferred timeframe H1. The strategy is implemented using two indicators: the RVI indicator and the moving average indicator. These indicators are available for download on our website in the Indicators section.
Apply the RVI indicator to the EURUSD chart with the H1 timeframe. Also, apply two moving averages on the chart.
Indicator settings
- Set the ExtRVIPeriod of the RVI indicator to 100.
- Set the period of the first Moving Average to 18.
- Set the period of the second Moving Average to 28.
Conditions for opening long positions
If these conditions are met, you can open a purchase transaction.
- Stoploss should be set at the nearest low price, which is below two moving averages.
- Take Profit in this system depends on the size of the stop loss and should be two times larger than it.
Conditions for opening short positions
A sale transaction, as in the case of a purchase, opens at the opening of a new candle.
Stoploss, according to the same rules, set the nearest high prices, and take profit set twice as much.
Conclusion
This trading system does not give a large number of signals. Nevertheless, the quality of these signals can compensate the trader for the lack of quantity. Follow the clear rules of money management when working with this trading strategy.
