JRSX Oscillator is a technical indicator which can be used for forex trading. This indicator can be used as a confirmation tool. However, this indicator is not self sufficient to trade based solely on it. JRSX indictor can be combined with indicators like moving average, Bollinger bands, parabolic SAR, etc. JRSX indicator measures the strength of the trend. It tells if bulls are stronger or bears. It takes a lot of discipline to trade with this indicator to achieve consistent results. This indicator is too easy to use and understand. Most importantly JRSX can be be used to trade any currency pairs and on any time frames.
When you install JRSX indicator in your trading platform, your chart should look like this:
RSX indicator is a histogram that fluctuates in positive and negative territory. When this indicator is positive, it indicates buyers are controlling the market and when this indicator is negative, it indicates buyers gave up and bears are in charge of the market. You can increase the efficiency of the indicator by trading only in the direction of the trend.
Buying Conditions Using JRSX Oscillator.
- Market should be up trending.
- Market should be bouncing from the recent swing low.
- RSX indicator should rise to the positive territory from the negative territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the RSX indicator dives into the negative territory.
Selling Conditions Using JRSX Indicator.
- Market should be down trending.
- Market should be falling from the recent swing high.
- RSX indicator should fall to the negative territory from the positive territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the RSX indicator rises into the positive territory.
Download Free Forex JRSX Oscillator Indicator
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