Riffster Trend trading strategy
Riffster Trend trading strategy - Another example of the classic combination of a trend indicator and oscillator, filtering signals, which is RSI indicator. The strategy has a high profitability, because the potential profit far exceeds the trading risks.
Input parameters
- Currency pairs: EUR/USD, GBP/USD, GBP/JPY, GBP/CAD, CAD/JPY, AUD/JPY, USD/JPY, EUR/GBP, EUR/USD, NZD/USD, AUD/USD, NZD/CAD, NZD/JPY
- Timeframe: M15 and older, H4 and Daily are recommended
- Bidding time: any
- Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
- RSI filter (25)
- Riffster indicator power (2)
- Inverse RSI (7)
Setting up the price chart
- Unpack the archive
- Copy the template into the templates folder
- Copy the indicators to the folder MQL4 -> indicators
- Restarting the terminal
- Open the chart of the desired currency pair
- Install a template named Riffster Trend Strategy
The schedule should look like this:
Signals indicating the opening of a long position
- a green up arrow appears;
- bar of the RSI indicator is green.
Signals indicating the opening of a short position
- a red down arrow appeared;
- bar of the RSI indicator in red.
Setting Stop Loss and Take Profit Orders
- stop loss is set above/below the previous local maximum/minimum;
- Take Profit is set depending on the used timeframe and currency pair. It is recommended that the ratio of stop loss to take profit is 1 to 3.
The Riffster Trend strategy has simple rules and will be especially in demand by novice traders. Before using Riffster Trend trading strategy on a real deposit be sure to test it on demo account.
Download Riffster Trend Strategy Template and Indicators
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