RSI strategy

Relative Strength Index (RSI) is a momentum oscillator, measuring the velocity and magnitude of directional price movement. Typically 14 periods were used with a value of 70 meaning overbought and 30 meaning oversold. This setup can be used for any currency pair in any timeframe. We use RSI (14) as indicator. When RSI crosses 30 from above, forms a bottom and crosses up through 30, enter a long position. When RSI crosses 70 from below, forms a peak and crosses down through 70, enter a short position. The exit strategy can be defined based on your risk appetite. It is better to use this strategy in combination with other ones.