RSIOMA Scalping is a strategy is perfect for scalping trades as well as swing trades. Based on a complex mql4 indicator built with RSIOMA and RSI (RSIOMA as the trend of and RSI as the timing for entry).
How to trade with RSIOMA Scalping?
the indicator on the chart hast two lines. The thick golden line is “Trend Line”. The thin green line is “Signal Line”.
The trend line is used to determine the trend as well as used to enter the market. The signal line is used only to enter the market.
Trend line or golden line” is used to predict the trend of the market. when the golden line goes below the lower level (Level 20) and rises up, it means the market conditions are turning bullish. When the golden line goes above the upper level (Level 80) and falls, it means the market conditions are turning bearish. If the golden line is below level 20 and isn’t rising above level 20, it means the market is bearish. If the golden line is above level 80 and isn’t falling below level 80, it means the market is bullish.”The signal line or reen line” is to used only for entries. If the golden line is staying above level 80 (Bullish Market) and the green line goes below level 20 then it can be a potential time to enter the market and go long. If the golden line is staying below level 80(Bearish Market) and the pink line goes above level 20 then it can be a potential time to enter the market and go short. greenline or Signal line assists traders to ride the trend as well as help traders enter the market with tighter stop loss. You can place the stop-loss just a few pips above or below the entry or the last highest high or lowest low. This way of trading is suitable for experts, to simplify instead of using the signal line I introduced the Nerpa indicator as to the entry timing.
- Time Frame 15 min or higher.
- Currency pairs: majors, Gold, and Indices.
- Metatrader 4 indicators:
- RSIOMA with RSI ( 5,3,14, 150).
- Nerpa indicator.
Trading rules RSIOMA Scalping (simplified way)
- RSIOMA gold line> 50 level
- Nerpa buy arrow.
- RSIOMA gold line <50 level
- Nerpa sell arrow.
Place initial stop loss above/below the entry bar or candle. Fast profit target depends on currency pair and time frame.