An options trading strategy on TMA and RSI

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This article explores how to trade with the Relative Strength Index (RSI), highlighting why traders use this indicator, what the indicator is and what it is for, as well as looking at topics such as RSI trendlines and RSI Two Period Divergence.

Technical analysis is a method of predicting price movements and future market trends, by studying charts of past market action, and comparing them with current ones. Technical analysis is concerned with what has actually happened in the market, and what might happen. It takes into account the price of instruments, and creates charts from that data to use as the primary tool.

One major advantage of technical analysis is that experienced analysts are able to follow many markets and market instruments simultaneously. There are three main principles in technical analysis that should be covered before taking a precise look at the RSI indicator:

Trend is your friend

Technical analysis is used to identify patterns of market behavior that have long been recognised as significant. For many given patterns, there is a high probability that they may produce the expected results. Additionally, there are also recognised patterns that repeat themselves on a consistent basis.

History repeats itself

Forex chart patterns have been recognised and categorised for over 100 years, and the manner in which many patterns are repeated leads to the conclusion that human psychology has changed little over time.

Price Action discounts everything

This means that the actual price is a reflection of everything that is known to the market that could affect it, for example, supply and demand, political factors and market sentiment. However, pure technical analysts are only concerned with price movements, and not with the reasons for any changes that may occur. One of the indicators that technical analysis is very reliant on is RSI – the Relative Strength Index Indicator. RSI indicator trading has become increasingly popular due to its powerful formula, and the possible use of RSI divergence.

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What to Know About the RSI Before You Start Using the Indicator – The RSI Indicator Fundamentals

What is the RSI indicator?

The RSI measures the ratio of up-moves to down-moves, and normalises the calculation so that the index is expressed in a range of 0-100. It was originally developed by J.Welles Wilder. If the RSI is 70 or greater, the instrument is assumed to be overbought (a situation whereby prices have risen more than market expectations). An RSI of 30 or less is taken as a signal that the instrument may be oversold (a situation in which prices have fallen more than the market expectations).

Contrary to popular opinion, the RSI is a leading indicator. The formula for the RSI indicator takes two equations that are involved in solving the formula. The first component equation obtains the initial Relative Strength (RS) value, which is the ratio of the average ‘Up” closes to the average of ‘Down’ closes over ‘N’ periods represented in the following formula:

  • RS = Average of ‘N’ day ‘s closes up / Average of ‘N’ day’s closes down

The actual RSI value is calculated by indexing the indicator to 100, through the use of the following formula:

If you are using MetaTrader (MT4), you can attach the indicator on your MT4 chart, and simply drag and drop it to the main chart window. The GIF provided below demonstrates this process:

Source: MetaTrader 4 – RSI Indicator selection

Here are some examples of trading strategies you can use with the RSI indicator:

RSI Indicator Trading Strategies

RSI OBOS Levels

If the RSI is less than 30, it means that the market is oversold, and that the price might eventually increase. Once the reversal is confirmed, a buy trade can be placed. Conversely, if the RSI is more than 70, it means that it’s overbought, and that the price might soon decline. After a confirmation of the reversal, a sell trade can be placed. The 50 level is the midline that separates the upper (Bullish) and lower (Bearish) territories. In an uptrend, the RSI is usually above 50, while in a downtrend, it is below 50.

Depicted: Example of MetaTrader 4 – Mini Terminal – EURUSD – Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admiral Markets (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

RSI Two Period Divergence

Apply a short 5 period RSI (RSI 5) over the longer (default) 14 period RSI (RSI 14) and watch for crossovers. With the RSI 14, there are times when the market does not reach the oversold or overbought levels before a shifting direction occurs. A shorter period RSI is more reactive to recent price changes, so it can show early signs of reversals. When the RSI 5 crosses above the RSI 14, it means that recent prices are getting higher.

A buy signal is then generated, and a 5 vs. 14 cross should happen when the 5 period (blue) is oversold (below 30). When the RSI 5 crosses below and becomes lower than the RSI 14, it means that recent prices are declining. This is a sell signal. A 5 vs. 14 cross should occur when the 5 period (blue) is overbought (above 80). Experienced traders may find that their trading performance greatly benefits from combining a RSI trading strategy with Pivot Points.

Depicted: Example of MetaTrader 4 – EURUSD – ECN Hourly Chart – Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admiral Markets (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

RSI Trendlines

Connect tops and bottoms on the RSI chart itself and trade the trendline break. To draw an RSI uptrend line, connect three or more points on the RSI line as it rises. A down trendline is drawn by connecting three or more points on the RSI line as it falls. The break of an RSI trendline might indicate a potential price continuation or a reversal. Bear in mind that the break of an RSI trendline usually precedes the break of a trendline on the price chart, thus providing an advance warning, and a very early opportunity to trade.

Depicted: Example of MetaTrader 4 – EURUSD – ECN Hourly Chart – Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admiral Markets (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

RSI Classic Divergence

RSI bearish divergence forms when the price forms a higher high, and at the same time the RSI decreases, and forms a lower high. You will usually see RSI divergence forming at the top of the bullish market, and this is known as a reversal pattern. Traders expect the reversal when the RSI Divergence forms. It is an advance reversal warning, as it appears in several candlesticks before the uptrend changes its direction, and breaks below its support line.

Conversely, the RSI bullish divergence will form when the price forms a lower low, and the RSI forms a higher low. This is an advance warning sign that the trend direction might change from a downtrend to an uptrend. RSI divergence is widely used in Forex technical analysis. Some traders prefer to use higher time-frames (H4, Daily) for trading RSI divergence. Using these strategies, you can achieve various RSI indicator buy and sell signals.

Depicted: Example of MetaTrader 4 – EURUSD – ECN Daily Chart – Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admiral Markets (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

Conclusion: RSI Forex Trading

It is so simple to jump into trading using the Forex RSI indicator, that novice traders often begin trading without testing different parameters, or educating themselves on the proper interpretation of an indicator, because of the desire to grab money quickly! As a result, the RSI has become one of the most widely misused MT4 indicators. Once understood and correctly applied, the RSI has the ability to indicate whether prices are trending, when a market is overbought or oversold, and the best price to enter or exit a trade.

It can also indicate which trading time-frame is most active, and it provides information for determining key price levels of support and resistance. The RSI can provide you with technical trend information, as well as RSI buy and sell signals. It is crucial that you practise RSI trading strategies on demo account first, and then apply them to a live account. Additionally, the RSI strategies can complement any Forex trading strategy that you may have already been using.

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Trading strategy with the RSI indicator in binary options

Indicator for trading in stock market was established in June 1978. It was developed by Welles Wilder. Creator of shopping RSI at the time recommended a 2-week period. Today the majority of traders think the indicator shows the signals with the settings of the time period 9 and 25 days. Since in the network every day began to appear different strategy RSI for Forex and binary options. After all, the performance and the quality of the signals on the basis of this indicator allows to create whole trading systems.

RSI indicator

“RSI”- Relative Strength Index. The essence of its work is a visual indication of the condition of prices for the trader. That is, if the quote is directed in the oversold territory (below 0), then the probability is that it soon will grow. Conversely, if the price climbed into the overbought zone (above the value of 70 or 100), immediately raises a lot of assumptions that it cannot be there for a long time, and that it definitely will fall.

The RSI indicates overbought

The pros of trade using the RSI indicator

How useful is the RSI indicator for binary options? It shows the trader the condition of price and helps to understand where the price of the asset will move in the future.

In particular, it shows:

  • oversold and overbought asset if the indicator line went beyond the “0” means that the price to be oversold, and if the indicator value exceeds “100”, there is overbought;
  • end of trend when the price went into one of the zones of RSI, and at this time formed a pattern, confirming the reversal of the trend or other piece of technical analysis;
  • divergence and convergence of prices with the indicator; more often after that pair will go in the direction that will show RSI;
  • trend often coincides with the price movement on the chart.

Cons of trading by RSI indicator

Among the disadvantages of trading on the binary options market or the Forex market is that you never know how long the price will stay oversold or overbought. Therefore, the strategy RSI binary options should have an extra indicator to filter trades. It is simple in theory. For example, I saw indicator in the area of 70 or 100 – you buy the option type PUT. But in practice it’s a little different. It seems to have not deviated from the rules and strategies entered at the signal, and even correctly identified the expiration time. But the price for a long time is beyond this area, 70 or 100.

The principle of operation of RSI indicator

Description of RSI strategy for binary options

So, we learned that among the traders indicator of technical analysis RSI is often used. But, what RSI strategy for binary options is the most profitable. Consider not one but several such strategies.

The use of one RSI in binary options trading is not important. Here we should approach more conservatively. Even with standard indicators that are present in every terminal MT4, you can create the most profitable trading system. Here is one good trading system based on RSI and some other indicators.

  • RSI with a period of 9;
  • Bollinger bands (standard settings).

So a graph with set indicators should look this way:

Strategy RSI+BB on the chart

Trade on any currency pair.

Timeframe: М15

The expiry time: 1 candle (15 minutes).

Consider the buy signals.

  1. Bearish candle must be below the moving average indicator Bollinger and go beyond the bottom line.
  2. The blue RSI line went beyond level 20.
  3. Wait for the candle to close and select the type of option CALL with expiry of 15 minutes.

Strategy RSI+BB (example for purchase)

Sell signals.

  1. A bullish candlestick is located above the moving average indicator BB and to go beyond the upper band.
  2. The blue RSI line went beyond level 80.
  3. You need to wait until the close of the signal candle and opening the next buy a PUT option for 15 minutes.

Strategy RSI+BB (example for sale)

Important: The main thing is to wait for a clear exit rates from the overbought and oversold levels (80 and 20). If the price is just touched these areas, it is better to refrain from opening deals by type up or down.

Some of the nuances

  1. It is not necessary to trade on the opening and closing of trading sessions. Half an hour before and half hour after. For example, if you know that the London stock exchange opens at 10:00 GMT. Thus, it is not recommended to trade from 9:30 to 10:30 GMT. Also you should not trade from 18:00 to 19:00 GMT (closure of London).
  2. You should pay attention to the economic calendar, specifically on the financial news on the currencies traded. Moreover, the importance of this news can be any. Half an hour before their release, it is better not to open trades. Also 30 minutes after their release it is not recommended to trade on the binary options market.

Complex trading situation

The trader who will trade on this strategy RSI on binary options, may face quite a complex situation. Approximately as in this chart:

Strategy RSI+BB (complex example)

That is, there will definitely be situations when 3-4 candles will be observed on the chart, which go against the expectations of the player. In such moments you need to apply Martingale with a doubling rate by a factor of 2.2.

For example, the first bet of $10 was losing. The second should be $20 and $22, for example, and it proved to be unprofitable, then the following ($22 x 2.2)=$49,5. That is, a trader must be on account of around $200 to have enough money to Martingale betting. Such moments happen rarely, but you need to be ready for them.

The rebound from the extreme borders

To use the relative strength index on the binary options market is possible not only on the rebound from extremes, but breakout trend lines.

The principle of trade at the locked price from the extreme bounds is described above.

The breakout of trend lines

You can also trade on the breakout trend lines

You will need to do the following:

  • set calculation period for the indicator of 60 (if you use timeframe M1-M5);
  • on downtrend, each successive peak needs to be closed for a tangent line or below it;
  • on uptrend, each successive low price have to close for a tangent line or above it;
  • the CALL option (above) is opened only in those cases where Japanese candle breaks the descending line from the bottom up and closes above it;
  • the PUT option can be opened under the condition that the price breaks upward the line from top to bottom and is fixed beneath it;
  • the expiration time is equal to 5 candles.

Trading rules

Purchase

When the price breaks the descending trend line on the RSI indicator upward you should open position in CALL. Also, the candle should be outside or out of the lower band indicator Bollinger.

Selling

When rising trend-line is breached downwards, you need to wait for the signal candle closure and to open a PUT option. In addition, the candle needs to be outside or out of the upper Bollinger band.

Strategy RSI+BB (the breakout of trend lines)

Money management

Risks to merge trading deposit on the stock exchange is always present. Binary options are no exception to the rule.

Always keep in mind the point that the transaction will close not about the money, that is, will suffer losses.

The basic rule when using any RSI strategy for binary options or Forex there is no special difference, the trader does not have to trade immediately for the full amount of the deposit. Otherwise, the loss can not be avoided.

The rule of money management says: do not risk more than 5% of the initial deposit. That is, on one transaction when you deposit, say $200, the trader will be able to put a maximum of $10.

Especially in this guide on earnings in the binary options market you can’t do without martingale. Here is a handy table of risks with account of money management for transactions with a deposit of $200.

The number of open trades

The size of the stake 1

As it can be seen from the table above, the deposit of $200 will be enough for the 4 losing trades, trading with RSI strategy.

Typically instances with 3-4 consecutive losing trades are very rare, but you need to be ready for them. Stick to trading rules of RSI strategy and money management and you will always be in the black.

RSI Trading Strategies

RSI Trading Strategies

RSI indicator (Relative Strength Index) is one of the main oscillators used in technical analysis. This instrument helps to assess pricing dynamics against the previous values.

RSI offers a chance to define the market sentiment and spot the points at which the market is overbought and oversold.

It is also used to detect times when the price is about to reverse, and a new trend rises.

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Table of Contents

Features and Advantages of The RSI Indicator

As any other oscillator, the RSI indicator is not plotted on the price chart, but in a separate window below. This technical instrument consists of a single line and two levels set by default.

Vertical axis range of the indicator is set to 1 to 100 showing extremality of current price against its previous values.

RSI values calculation

What the formula means, is that if the price grows against previous values, so does indicator reading; otherwise, oscillator’s value goes down.

The RSI line may reach 0 or 100 only during strong, continuous downward or upward trend, respectively.

Usually standard overbought and oversold levels are 70 and 30. If the indicator’s line goes above the 70 level, it signals that market is overbought and the trend may reverse downwards.

If the indicator’s line goes below the level 30, it signifies that market is oversold and the trend may reverse upwards.

The reference level is 50, and it is the median value. If the indicator chart is ranging between the levels 30 and 70, the market is flat or that the current trend is smooth, steady and there is less of a likelihood for reversal in short-term

Sometimes, overbought and oversold levels are set at 80 and 20 instead of 70 and 30. This setting is used during increased market volatility.

Setting and Adjusting RSI Indicator

There are two ways to set up this indicator. The easiest way is to click the tab ‘List of Indicators’ located on the upper panel of the terminal and select ‘Oscillators’ – ‘Relative Strength Index’.

Another option is to choose ‘Insert’ – ‘Indicators’ – ‘Oscillators’ – ‘Relative Strength Index’.

Instrument configuration window will open before the indicator is set in the chart. This window allows you to configure the indicators parameters.

The main parameter is the period; It defines the number of price values taken into consideration at plotting the main indicator’s line. The shorter the period, the steeper indicator’s chart movements will be.

This parameter is set to 14 by default, and this setting is considered optimal in most cases. You can also adjust the style settings, like line colour and weight.

By using another tab of configuration window, you can change parameters of the levels from 30 and 70 to 20 and 80. You can also add new levels should your trading strategy require so.

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Opening Positions on RSI Signals

The main signal the RSI oscillator generates allows defining overbought and oversold price ranges.

Although it is frequently used as a filter in systems where the main indicator is a trend one, it might be possible to try trading using RSI signals only.

When indicator’s line goes above the level 70 or below the level 30, it signals that market is overbought/oversold, and it is necessary to wait for the next signal confirming a trend reversal.

These are the rules for opening positions based on the RSI signals:

  1. If the indicator’s line crosses the level 70 from above, a short position (Sell) is opened.
  2. If the indicator’s line crosses the level 30 from below, a long position (Buy) is opened.

There are several conditions for closing a trade:

  1. Place a Stop Loss to local extremum and Take Profit to the value that is by 2-3 times greater.
  2. Exit on opposite indicator’s signal.
  3. Place a Stop Loss and Take Profit to the nearest key levels or Fibonacci (here Take Profit level should be not less than Stop Loss otherwise it is better to hold back and avoid opening a trade).

However, trading using RSI signals only is not the best approach as it has been designed to be used as a filter and not the main instrument.

A trading strategy will be more efficient when using a trend indicator or at least paying attention to the Price Action signals.

Combined Strategy using Stochastic + RSI

In order to boost trading efficiency, it’s best to use the Stochastic Oscillator. The absence of trend indicators in this trading strategy is compensated by simultaneous analysis of two timeframes.

This way the oscillators will filter each other’s signals and trades will be opened only when both indicators give the same signals on different time frames.

This strategy suggests using time frames of Н4 and М15. In Н4, the RSI will have the default settings.

The only difference will be that instead of levels 30 and 70 we will set it at 50. In М15, Stochastic will have default settings.

Short position (Sell) will be opened in the following case:

  1. In Н4, the RSI line is crossing the level 50 from below.
  2. In М15, Stochastic lines exit overbought zone and heads down.

Long positions (Buy) will be opened in the opposite case.

Stop Loss and Take Profit are fixed and set at distances 20 and 50 points from the opening price respectively.

Such ratio enables to obtain a positive statistical expectation from trading in the long run.

It is recommended to check the economic calendar before opening positions in this trading system since the release of important news can significantly influence price movement, and technical analysis won’t be relevant at this very moment.

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Advanced Strategy RSI + Stochastic + МА

Finally, let’s consider strategy with three classic indicators filtering each other as a single set and giving powerful signals for entering the market.

This strategy fits best for trading on Н1, Н4 and D1.

First, it is necessary to set up the following indicators in the chart:

  1. A moving average with the period of 10.
  2. An RSI with standard settings (levels 70 and 30).
  3. A Stochastic oscillator with standard settings (levels 80 and 20).

According to this strategy, a long position is opened when the following signals are generated:

  1. Price is crossing МА from below.
  2. RSI and Stochastic exit oversold zone.

All three signals should be received during three candles, otherwise, they will lose their value.

Short positions (Sell) should be opened in the opposite case.

Exiting an open trade should be done when RSI enters the opposite zone. Sometimes, an opposite position can be opened simultaneously with closing previous position, granting other signals to follow the aforementioned pattern.

Conclusion

The RSI is one of the main indicators of technical analysis, and almost all the forex trading experts think that it is still very useful and valuable as a source of trading signals.

The success of trading with an RSI depends on using additional indicators in conjunction with it.

Combined with the right indicators, RSI forms an efficient system, which can be fine-tuned by amending the parameters of instruments used.

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Trading in financial markets puts your capital at risk. It is recommended to accurately follow the money management rules and always set Stop Losses to reduce risks. This article doesn’t constitute an investment/trading advice.

We recommend you to visit our trading for beginners section for more articles on how to trade Forex and CFDs.

Guide to Trading Using RSI and Support/Resistance on IQ Option

Support and resistace are a good way to identify the prices at which a trend is likely to reverse. But, they cannot effectively help you determine the direction the price will take. That’s why it’s best to use support/resistance alongside another indicator. In this guide, well use the Relative Strength Index (RSI) in conjunction with the support/resistance.

RSI is a momentum indicator that measures the strength of recent price changes showing overbought and oversold conditions of the underlying financial instrument.

Setting up the RSI indicator on your IQ Option account

Go to the “indicators” feature on the left of your trading interface. Next, select momentum and finally choose Relative Strength Index.

Setting the RSI indicator on IQ Option

Setting up support and resistance on your IQ Option account

Since there isn’t a specific indicator called support/resistance, you should create one yourself by using a the line tool. Click on the graphical tools feature and then select line. To create the support, click on a low price point and drag the line connecting other low price points on the chart. To create the resistance, repeat the process of selecting the line tool. Then, click on a high price point. Hold the mouse button and drag the cursor drawing a horizontal line that connects the high price with other high price points on your chart.

Setting up support/resistance on the IQ Option platform

RSI and support/resistance are ideal for longer trades

RSI stands for Relative Strength Index. This measures the relative strength of a specific financial instrument. RSI has a value. For example 14 RSI means the relative strength index of 14 consecutive candles.

Another concept you should understand is RSI divergence. This measures the price of an asset against its relative strength index. For example, when an assets price rises, its relative strength index falls and vise versa. This essentially signals that the price trend will soon reverse.

Support and resistance are useful technical analysis tools. When applied, they will give you an idea about where the prices are likely to reach before a reversal occurs. When combined with RSI, they will give you an idea about an impending trend reversal.

How to use RSI and support/resistance to trade long positions on IQ Option

Start by setting up a 5 minute candles chart for the EUR/USD pair on your account. I prefer 5 minute candles because they offer a better picture about how the markets are moving compared to smaller time frames like 1 minute or 30 seconds. Larger candles are also harder to read especially since we’re going to place 15 to 30 minute trades.

Once your chart is open, set up your RSI indicator.

Analyze your chart and identify support/resistance level

Using the chart below, I identified a support level where prices hit a low range and bounced back. I expected the prices to rise once more if they hit this level again.

Enter into long position with a trade lasting 15 to 30 minutes

The prices eventually fell back to the support level I had identified. The RSI was rising creating a divergence (view chart). This indicated an uptrend was imminent so I went long.

Enter into a 15 to 30 minute position when price hits support level

It takes some bit of practice to follow these steps especially identifying the appropriate support/resistance level. That’s why I recommend using the 5 minute candles because they make it easy to identify new support/resistance levels as they come up. In my chart, coincidentally the RSI divergence occurred right where I had placed my support line. The price continued to increase allowing me to profit from my long position.

If you find this a bit overwhelming, I suggest you try it out on an IQ Option demo account. With time, you’ll find that it’s easier than it sounds.

Enter long sell position with a trade lasting 15 to 30 minutes

The price finally rebounded to the previous resistance level. Looking at the RSI, it was also falling creating a divergence. This was an indicator to enter a sell position. So I placed a sell trade lasting 15 minutes. Interestingly, the downtrend continued for quite some time.

When using RSI you shouldn’t worry too much about the price touching the resistance/support level. Simply observe whether the RSI indicator is falling or rising when the price hits the resistance/support. If its rising, there’s an impending uptrend. If dropping, there’s an impending downtrend.

Have you used RSI alongside support/resistance? How did these two indicators work for you? Give us your views in the comments section below.

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