RSIOMA Scalping is a forex trading strategy. RSIOMA strategy is used to scalp in the foreign exchange market. Scalping is quite complex way of trading in the markets because scalping means trading for short term and it is more difficult to project short term prices than long term. Short term trading also carries certain types of risks. Even a wide spread can be a riskier thing for a scalper. So as a scalper one tries to trade those pairs which have very small spread i.e. smaller difference between bids and ask price. ECN brokers today claim that they don’t have any spreads. Scalping is also risky in terms of uncertainties that come during the fundamental releases but we should also accept the fact that there are lots of traders who trade on the basis of economic releases. There are traders who trade during the NFP reports.
When you have system like this on your hand you should not worry about scalping in the market. The system consists of six technical indicators. When the RSIOMA scalping system is correctly installed on your trading platform your chart should look like this:
- HA exit
HA exit is an indicator that shows the Heiken Ashi bars on your main chart window. It comes in green and red colors. You would be buying when the bars are green and vice versa.
- 2 MA Crossover
2 MA Crossover is one of the most significant indicators of RSIOMA since it is the main indicator that generates the signals for the trader. This indicator consists of arrows that appear below and above the chart.
RSIOMA is a hybrid form of the RSI and Moving average. This indicator consists of two oscillators which are obviously RSI and MA. Its crossovers are used for confirming the trading signals.
- Trend CCI
Trend CCI consists of a histogram and a white line that moves up and down along the medium level at zero.
Although there are some other indicators included in this trading system, these four technical indicators are more than enough to make money consistently in the market.
Buying Conditions Using RSIOMA Scalping System.
- Price should be above the Heiken Ashi bars.
- Oscillator should trigger buy signal on the RSIOMA indicator.
- Trend CCI should be in positive territory.
- Place your stop just below the recent swing low.
- Take your profits when a pink arrow pointing down appears above the chart.
Selling Conditions Using RSIOMA Scalping System.
- Price should be below the Heiken Ashi bars.
- Oscillator should trigger sell signal on the RSIOMA indicator.
- Trend CCI should be in negative territory.
- Place your stop just above the recent swing high.
- Take your profits when a blue arrow pointing up appears below the chart.
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