Best RSI Indicator Settings for Forex Swing Trading

Рет қаралды 10,507

Күн бұрын

Today I'm sharing an idea which covers the best RSI INDICATOR settings for a forex swing trade strategy for USD/JPY. I show you a method of using RSI Relative Strength Index when trading a mean reversion trading strategy.
Link to Bollinger Band Strategy: • This Bollinger Band St...
Let me share a trading strategy idea which works on daily charts.
I know you may not have automated trading software like I use and you probably have a day job.
That makes looking for trades during the daytime quite difficult.
But I’m sure you can get the chance to check the charts once a day. And that’s why I’m sharing this strategy using the RSI indicator on daily charts.
As usual, the entries and exits are quite simple and include a unique trade filter which doubles the performance!
I hope you find this video useful. These are exactly the types of video and strategy I was searching for years ago before I began developing my own.
Grab 3 favourite strategies for FREE in my new 22 page Beat the Markets Strategy Guidebook here: www.thetransparenttrader.com/...
WEBSITE: www.thetransparenttrader.com/
LATEST TRADING COURSE: www.thetransparenttrader.com/...
EMAIL ME: jarrod@thetransparenttrader.com
DISCLAIMER:
I am not a financial advisor and I am not offering you financial advice. I am not regulated in any way. The purpose of the content I provide is for educational purposes only.
Any information you receive is based on my own knowledge and experience in the financial markets and how you act on the information provided is your own responsibility.
I cannot be held responsible for any losses you may incur as a result of ideas taken from my content provided.

Пікірлер: 38

@TheTransparentTrader 3 жыл бұрын

I hope you enjoy this video showing you a way of using RSI for swing trades guys!

@Louis-yg3xq 3 жыл бұрын

Another fantastic overview and shows how a small change in the strategy can make a world of difference and how algo analysis pays dividends. I love it, thank you for sharing.

@sean3000 3 жыл бұрын

Hey Jarrod, thanks for all the great content. I'm about 80% finished coding my first strategy in Multicharts and couldn't have done it without all your help. Off-topic question, but where do you get your shirts? They're pretty sharp...

@sidmar200 4 ай бұрын

Great video, using an ema cross and stay above or under for the length of the trade helps as well. I also have 12 forms of divergence which work i tall helps to increase the return.

@neilprior1146 3 жыл бұрын

Nice vid jarrod.....UJ is an underated pair due to the perceived positive correlation in the 2 currencies involved ....N

@JohnSmith-ms3wb 3 жыл бұрын

Excellent. Thank you.

@Hamxas11 2 жыл бұрын

You’re doing great work, just subscribed

@TheTransparentTrader 2 жыл бұрын

Thank you. I hope its helping!

@Wyndsonge Жыл бұрын

Thanks Jarrod

@pradipsinha4352 3 жыл бұрын

Vry nice strategy....will it work on indian market on equity segments?

@jeremydunklin3206 3 жыл бұрын

Great video! Do you care about support/resistance in most of your strategies? Trading this manually I could see that helping me Identify reasonable take profit and stop loss placements

@TheTransparentTrader 3 жыл бұрын

I don't use support and resistance as most would describe it. That is by using horizontal lines across lows and highs.

@zenchannel_ 3 жыл бұрын

Hey Jarrod, I'm a big fan of yours. I went through a similar journey of losing a lot of money, feeling frustrated and then finally got into mechanical trading. I have seen almost all of your videos. Keep up the good work. Also, on a related note: I saw a video of you doing the exact opposite of this strategy buy when RSI>0.7. A bit confused....which one do you recommend we follow? _/\_

@TheTransparentTrader 3 жыл бұрын

Hi, thanks for the message. Different markets respond differently. While buying over sold works well on one market, buying overbought can work well on others. You have to test for each market and timeframe.

@kaushik167i 3 жыл бұрын

Is it applicable for intraday in 5 min timeframe..please let me know

@brycewilhelm260 3 жыл бұрын

Just found this, Great video!! How do you come up with all these strategies? It’s amazing! Just one question: when saying enter on day three, (for example a Wednesday), we enter at what time, EST? So Wednesday, at 22:00 English times? Thanks a bunch🙌🏽

@TheTransparentTrader 3 жыл бұрын

I'm working on these types of ideas all the time. Just share a few on here now and then as they appear to be helpful. Entries are at the start of the session so 17:00 EST which is 22:00 GMT (most of the time apart from 4 weeks a year when daylight saving switches)

@brycewilhelm260 3 жыл бұрын

@@TheTransparentTrader Oh ok, now I get it. By start of the session, you mean the opening of the daily candle, which would be the candle on Wednesday 22GMT, that leads to Thursday and closes at 22GMT, correct?

@TheTransparentTrader 3 жыл бұрын

@@brycewilhelm260 Yes that's correct

@davidalcock8765 2 жыл бұрын

Hi Jarrod, In looking at the RSI have you ever looked at opening a buy trade as RSI enters overbought until it exits overbought and a sell trade when RSI enters oversold and exit as it leaves oversold, it seems that this shows a consistent profit, and also dovetails into your strategy? Is this worth assessment?

@TheTransparentTrader 2 жыл бұрын

This can work well on trending markets. Forex markets such as GBPJPY might benefit from this type of strategy. It's worth testing out.

@terrysenyczko121 3 жыл бұрын

I have access to trading software and I'm kind of new to listening to you but I don't have unlimited funds is it normal for you just not to use stop losses in your orders

@myempire4eva489 3 жыл бұрын

Good video, Do you have scalping strategy?

@TheTransparentTrader 3 жыл бұрын

No I don't do scalping. It's very hard to find a strong enough edge in the market while only being in the trade for such a short period of time.

@brunonewton6136 3 жыл бұрын

I love your videos. I want to learn how to code like you but I have no idea about coding. Where do you suggest I start from?

@TheTransparentTrader 3 жыл бұрын

What platform would you like to learn how to code in?

@brunonewton6136 3 жыл бұрын

MQL5

@TheTransparentTrader 3 жыл бұрын

@@brunonewton6136 I've never used MQL5 so I can't help you I'm afraid. I would suggest finding someone on KZfaq doing tutorials.

@novicetrader4256 2 жыл бұрын

Hi Jarrod, great content as always! I got entire content, just one issue which I have been scratching my head. Could you let me know the inputs you provide in the "Properties" section of the signal. I'm asking since this is USD/JPY and since Yen is involved, can't get it to work. So as example I want to know what is your base currency, what is your initial capital, have you entered lot size or 1 contract etc. etc. Ideally if you can could you provide a screenshot of your properties tab. With my settings I am not getting returns anywhere close to yours, hence this query. Thanks ever so much!

@TheTransparentTrader 2 жыл бұрын

I always test forex with 100,000 units entered in the contracts / shares box. Also use the base currency.

@novicetrader4256 2 жыл бұрын

@@TheTransparentTrader Thanks Jarrod. Did you mean to say you use base currency = JPY in this case?

@terrysenyczko121 3 жыл бұрын

I really like your videos I can't remember the guy's name but I started watching some of his videos all he did was buy pullbacks and he didn't back anything up with train station or whatever it is that you use so if you didn't get the trade right your feelings were wrong you know you're instinct

@maximosh 3 жыл бұрын

I noticed you're missing a few daily bars of data there. 2020.04.27 2020.04.28 2020.04.29 2020.04.30 2020.05.01 I didn't catch that nice Buy trade from 2020.04.14 as the RSI lowest value was 30.1536 Perhaps Multicharts rounds the RSI indicator to the nearest significant digit. There seems to be a string of 6 losses which Multicharts doesn't seem to show for these dates. Perhaps these dates are missing too. The day of month optimization has been applied. Slippage affected the first trade extending the maximum loss figure to -420 pips. 2012.10.09 sell s/l 2013.01.08 sell s/l 2013.02.11 sell s/l 2013.04.15 sell s/l 2013.06.05 buy s/l 2013.06.11 buy s/l You'll be glad to know your other strategies tested well.

@TheTransparentTrader 3 жыл бұрын

Thanks for pointing that out! I have seen MC do this on the odd occasion. I'll re load the data for those dates. It shouldn't affect the overall strategy too much. I'm glad you've tested out the others and confirmed my results! Thanks.