100 pips a day with Forex mobile strategy is a trend momentum strategy for MT4 and MT5 mobile applications. This trading system is based on the Relative Strength Index and envelopes. The main part of envelopes is to draw very good and reliable levels of dynamic price resistances and supports in space. In other words, the rebound, the violation, or the return of the price in the envelopes are significant moments.
Time Frame: 15 min or higher.
- Currency pairs: any
- Apply close, Period 50, deviation 0.823, upper band green, shift 0, lower band red, method smoothed.
- Apply close, shift 0, deviation 0.783, Period 50, upper band green, method smoothed, lower band red.
- Apply close, shift 0, deviation 0.763, Period 50, upper band green, lower band red, method smoothed.
- Apply close, shift 0, deviation 0.423, Period 50, upper band green, lower band green, method smoothed.
- RSI (1), apply close, with simple moving averages (1-2-3-4 color orange)-(5-6-7-8-9-10, the color purple, apply close).
Trading rules 100 pips a day with Forex mobile strategy
When the price bounce on the envelope or penetrates, the area between the lower envelope bands wait for the orange fast moving averages to cross the slow purple one upward. But the moving averages must first have gone into the oversold zone (the level below 20).
When the price bounces on the envelope or penetrates the area between the upper envelope bands, the orange fast moving averages cross the slow purple one downward. But the moving averages must first have gone into the oversold zone (level above 80).
Place initial stop loss above below the previous swing high/low.
Profit Target ratio stops loss minimum 1:1.3 or at opposite before the opposite band.
Examples of trades
Read More: TDI Forex indicator for Mobile