RSI Pullback Trend Trading Indicator (LONG Only)
***Use at your own risk***
***This is for testing and education only***
I suggest that you also manually add the RSI(5,3,3) on your main chart for analysis.
You can change the settings, but these are the defaults:
Default Main Timeframe = Daily
Default Secondary TimeFrame = Weekly (use around 5X your main timeframe, to check the longer term trend)
Default Stochastic settings ( 5, 3 , 3)
Default Fast EMA : 13
Default Slow EMA : 22
Default ATR : 14
Conditions to show buying signal on main TimeFrame. (Yellow Triangle)
- Check if the MACD Histogram is rising on the secondary timeframe.
- Check if the Stochastic on the main timeframe is below 20.
When deciding to buy, you can use the ATR channels to determine the stop loss and profit target.
***This is for testing and education only***
I suggest that you also manually add the RSI(5,3,3) on your main chart for analysis.
You can change the settings, but these are the defaults:
Default Main Timeframe = Daily
Default Secondary TimeFrame = Weekly (use around 5X your main timeframe, to check the longer term trend)
Default Stochastic settings ( 5, 3 , 3)
Default Fast EMA : 13
Default Slow EMA : 22
Default ATR : 14
Conditions to show buying signal on main TimeFrame. (Yellow Triangle)
- Check if the MACD Histogram is rising on the secondary timeframe.
- Check if the Stochastic on the main timeframe is below 20.
When deciding to buy, you can use the ATR channels to determine the stop loss and profit target.
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