Double RSI Trading EA
Double RSI Trading EA iks based on the double RSI trading strategy. It will be very helpful to buy or sell the stock during pullback in high trending market.
The full form of RSI is relative strength index. RSI is a price momentum indicator. it indicates the momentum of stock during the day. RSI keep oscillating between the value of 0 to 100. It also indicates the oversold and overbought levels. Generally, when the RSI goes above the 70 level it is called that the stock is overbought. Similarly, when the RSI goes below the 30 level it is called that the stock is oversold.
But many times, the price don’t always respect these overbought and oversold levels. The solution is to use double RSI. so, we will use second RSI for the proper judgment of the trend of the market. For the precise judgment of the trend, RSI is used on high time frame. So, we will change the setting of second RSI. Our main time frame for the stock is 15 minutes, but we will take the daily time frame for our second RSI. We can change it from RSI setting. We will also change overbought level as 55 instead of 70, and oversold level as 45 instead of 30. Please watch the video for the detailed strategy.
Specification: Double RSI Trading EA
What You'll Get:
- EA RB Double RSI.ex4