The script uses RSI as major trend identification and supported by RSI divergence for take profit, and also counter trend in certain cases.
Uses EMA 200 for major trend identification to filter false signals, Average Volume as confirmation and faster signal detection to the change of trend.
The indicator detects immediate change of trend and immediately opens position for the major trend.
User can enjoy the RSI with labels of divergence to do manual judgement.
Existing risk to reward ratio based on amount of money instead of ticks count. The currency is depending on the chart's trading currency.
This strategy mainly built for FCPO and its for 1 min settings only. User can toggle the sessions as per users preferences
The default risk to reward ratio is 1:1.5. However, there is a risk management using RSI levels to
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Updated Buy and Sell signal labels.
Updated custom time session to enable user select their dedicated trading time
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Updated latest version to version 5
Enable type of signal label and tick box to allow back testing easier
Added new signal condition!
Enjoy!
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Adjusting glitch of not closing the position for Open Long ATR position
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This strategy created to help trader who have problem in managing their risk, I hope this will benefit more FCPO traders in the future Update as per below :-
Omitted ATR Conditions and added new modified stochastic long and short conditions
Currently the strategy have 3 Long and 3 Short conditions. Momentum conditions (RSI based), Divergence conditions (RSI based and reversal) & Stochastic Condition (for short term scalping)
Visually clean to see Long and Short signals and let the conditions do the work in the background
On default, the risk is in value based (MYR) & user may customize settings below to change into tick/bids based.
Personally I only took trades in the evening as morning session is too short to be traded
The strategy is directed and non repaint. This is definitely not a scam.
Trust the process and manage your risk well. Good luck!
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Eliminate false signal when RSI reaches extreme level and weakness level
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Updated, enable trail stop for risk management using ticks instead of amount. Need to tick the box and un-tick the risk management using value.