PROTECTED SOURCE SCRIPT
XAUUSD STRATGEY BUY AND SELL SIGNALS
This indicator primarily focuses on the concepts of Overbought and Oversold conditions, serving as a tool for short-term trading strategies. It provides modest yet reliable signals for traders. The fundamental operation of the indicator is outlined as follows:
For purchasing, the indicator monitors the asset for an Oversold condition as indicated by the Relative Strength Index (RSI). Subsequently, a buy signal is generated when the price chart crosses the lower boundary of the Envelope indicator from below to above.
Conversely, for selling, the indicator observes the asset for an Overbought condition according to the RSI. A sell signal is triggered when the price chart crosses the upper boundary of the Envelope indicator from above to below.
The underlying principle is the alignment between the price movement and the RSI readings.
The optimal settings I have developed are as follows:
- Time frame: 15 minutes
- Overbought threshold: 80
- Oversold threshold: 25
- RSI Length: 8
This approach can be applied across various financial instruments, but it is essential to establish clear profit and loss limits.
For purchasing, the indicator monitors the asset for an Oversold condition as indicated by the Relative Strength Index (RSI). Subsequently, a buy signal is generated when the price chart crosses the lower boundary of the Envelope indicator from below to above.
Conversely, for selling, the indicator observes the asset for an Overbought condition according to the RSI. A sell signal is triggered when the price chart crosses the upper boundary of the Envelope indicator from above to below.
The underlying principle is the alignment between the price movement and the RSI readings.
The optimal settings I have developed are as follows:
- Time frame: 15 minutes
- Overbought threshold: 80
- Oversold threshold: 25
- RSI Length: 8
This approach can be applied across various financial instruments, but it is essential to establish clear profit and loss limits.
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