Self-adjusting RSI is a forex trading indicator. It is an fx indicator developed for the intermediate level of traders as this indicator is somehow advanced. The Self-adjusting RSI indicator is an oscillator-based trading indicator. Can use the Self Adjusting RSI indicator in trending market conditions and sideways market conditions. This forex indicator is more concerned with catching the up and downswings of the market rather than riding the trend for a more extended period. The amount of market pips you want to grab depends on your timeframe to trade. When you trade in a smaller timeframe with this system, you gain small and gain more significance when you increase the timeframe.
When you install the Self-adjusting RSI indicator in your trading platform, your chart should look like this:
Self Adjusting RSI Forex Indicator
Self-adjusting RSI indicator consists of two bands moving horizontally and an oscillator that fluctuates within the two bands’ range. The upper oscillator (red) works as resistance; you should be selling when the blue color oscillator touches it. When the blue color oscillator touches the lower oscillator (green), you should be looking for buying.
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Buying Conditions Using Self Adjusting RSI
- The blue oscillator of the Self-adjusting RSI indicator should rise from the green band.
- The market should be around swing low.
- Place your long position(buy) as soon as the above conditions are met.
- Place your stop loss just below the chart’s recent swing low.
- Take your profit when the blue oscillator of the Self-adjusting RSI indicator touches the red band.
Selling Conditions Using Self Adjusting RSI
- The blue oscillator of the Self-adjusting RSI indicator should fall from the red band.
- The market should around swing high.
- Place your short position(Sell) as soon as the above conditions are met.
- Place your stop loss just above the chart’s recent swing high.
- Take your profit when the blue oscillator of the Self-adjusting RSI indicator touches green.
Self Adjusting RSI Forex Indicator Free Download