True RSI Indicator 2.0

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The TFA True RSI indicator scans for major swing lows that bounced really (we can adjust the sensitivity and how strict these big swing lows are).

$15.99

There’s the correct way to use RSI to trade and the way the world teaches you. Most forums, gurus and sites teach you that the overbought and oversold levels are 70 and 30 respectively. When price reaches these levels, you should expect a bounce. Correct? – WRONG!

That is simply what the world teaches you so they know where the bulk of volume for buys and sells are coming in. Who has ever said that the magical number 70 is the oversold level and 30 is the overbought level, right?

HOW DO YOU KNOW OF THIS SECRET RSI TRADING STRATEGY?

And why should we trust you?

So my team runs EFG – an award-winning research house (The Technical Analyst 2019 & 2020 for Best FX Research & Best Equity Research to be specific) – and we have advised the trading desks of the largest banks, hedge funds and asset management companies and I can assure you that there’s a different way to look at RSI that can really improve your profitability.

Now, this could be used as a trading strategy by itself but is best when combined with other strategies (particularly Fibonacci and Support & Resistance).

WHAT MAKES THIS RSI TRADING STRATEGY BETTER THAN THE REST?

You know, the 70/30 and 80/20 ones.

Well, I trade for a living. I learnt my technical analysis from the best and my team currently provides technical analysis to some of the largest brokers including Tickmill, AxiTrader, XM and VantageFX. There are many ‘educators’ out there who don’t walk the talk. Here’s a recent video created by DollarsandSense in collaboration with IG showing the day in my life trading.

Anyway, I just wanted everyone to know that you should not trust people just because they tell you to or they have 1,000+ posts to their name in some random forex forum. Do your due diligence, this is your money on the line! Anyway, enough about me and let’s dive into how this strategy works.

HOW DOES THIS RSI TRADING STRATEGY WORK?

What’s the secret sauce?

So the trick is in finding a True RSI level that price bounces off. Instead of 70, this could be 60. Instead of 30, this could be 40. That is the True RSI of the market. How does this look like? Here’s a screenshot of how our special True RSI Indicator works in finding out key levels where price bounces off.

How the institutions use RSI to identify hidden areas of support and resistance

As you can see in the image, the TFA True RSI indicator has scanned for 5 major swing lows that bounced really nicely (we can adjust the sensitivity and how strict these big swing lows are). So in the past 5 times price bounced nicely – it coincided with RSI being at 32-36% 4 out of 5 times (4 orange boxes show how nicely it bounced, 1 red box to show that it didn’t bounce).

So what does this tell us? It means that there’s an 80% chance approximately that when RSI reaches the 32-36% level, there will be a bounce in price. With this strategy by itself, we already have an edge over the market to trade and make money (really? yes!). But if you wish to really increase your trading profitability, you can add in basic support and resistance and even Fibonacci to this.

WHY 4 OUT OF 5? WHY NOT 8 OUT OF 10 TIES?

Yes, this is possible in the TFA True RSI Indicator settings. We are able to adjust the confidence level (eg. 80% bounce success) and minimum counts required (eg. 10 bounces as the sample size instead of 5).

However, I personally find that 8 out of 10 times might be a bit too hard to attain. You’ll find less setups but you’ll also find better setups when they do appear. Mysweetspotcurrentlyis 4 out of 5 times.

Specification: True RSI Indicator 2.0

Product Type
Condition
Trading Style
Trading Terminal

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FTA True RSI Indicator
IC Markets – Advanced RSI Trading Strategies (720p with 29fps).mp4 193.970 KB
TFA True RSI V2.ex4 90 KB

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