MegaTrend RSI Trading System is a trend-following indicator that can be used on any currency pair and works best in 15-minutes, 1-hour, 4-hour timeframe, or higher.
Trading NOTES
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- Use a demo account or a small live account first to practice this trading system
- Time Frame: M15 or higher
- Currency Pair: any
MetaTrader Trading Indicator
- Megatrend Indicator
- RSI filter
- CCI line
BUY Rules
- MegatrendTrend Line blue color
- RSI Filter blue color bar
- CCI line above 50 level
SELL Rules
- MegatrendTrend Line red color
- RSI Filter red color bar
- CCI line below -50 level
Trading NOTES
- Initial Stop Loss on the previous swing
- For Targets, you can also use a Fixed number of pips per trade or you can use support and resistance levels or Fibonacci levels
- Best Risk Reward Ratio 1:2 or 1:3