50-Pips a Day Forex Strategy

You can modify the RSI length in addition to the upper and lower thresholds.

There are two important components of successful counter-trend trading:

I also added in check boxes to combine different bullish and bearish patterns. The purpose of this script is to trade with the trend, trade trend continuation, and counter-trend trades.


Uptrend is price above ema: Background is green and the bar colors are normal Downtrend is price below ema: Background is red and the bar colors are normal Counter-trend to uptrend--Bar colors are white and the background is purple counter-trend An interesting experiment to make an indicator act as a counter. It adds 1 when current close is higher than previous close and reduces -1 when current close is lower than previous close. Disable the EMA TradingView EN. Indicators and Strategies All Scripts. All Scripts.

Counter-Trend Trades

Indicators Only. Strategies Only. Open Sources Only. RSI Swing Signal. Naked Forex Trading Strategy. Advancing Declining Oscillator.

Dynamic Envelope. Falling Knives Jagged Spikes. Take the MACD for example. But if you wait — wait until price is no longer in reversal territory, and comes into trend territory, the result here is much better.

Countertrend — Indicators and Signals — TradingView

Be patient and wait for the indicator to cross zero! A zero-line cross indicator is one of the three I mentioned in the Trend Indicators blog. Do whatever you can to find a great trend confirmation indicator. It is the anchor of your entire system. It eliminates so many dumb things that other traders not named you will have to constantly worry about. We want to trade with the trend.

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So then how do we handle currency pairs that are in a counter trend? How do we even define a counter trend?

You can catch the podcast right here, or continue reading on. A two-part question this week from Lindsay.

Trend vs. Counter-Trend Trading

Easy to define, right? When price is currently moving against the prevailing trend.

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Ahhhh, not so fast though. Clearly in an uptrend.

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