Hi, i have tried many strategy, from here from other site even more "smarter one" in futures.io, i have studied how indicator works and how they are calculated, and im here to tell you not to weste time with "simple" strategy you find here, there is no rsi>80 that oblige real trader and institution to sell.
the only thing that works is market knowledge and Demn PRICE ACTION, that no one here seems to understand/to willing to learn.
why doesnt indicator work? couse market CHANGE, strategy made here are usefull only in some days/months during the time strategy was developed. maybe in some days you can recognize that price tend to go down at hight rsi but does not work every time. In the long run every strategy get near 50%, HOW DO I KNOW? couse i wested hours trying them and no one after some times seems to work, all clain 70-80%, yeah maybe in the day you used to develope it gets 70% but 1 week later it will be 50%.
you are idiot i know my strategy works!!! OK backtest it in 2006 if you have data then in 2008 and see if you get seme result in both year (2006/8 couse one was bear and other other was bullish)
market change like forex movement are not the same as stock one.
Bye, im sure no one will belive me but i tried