I use the strategy on the EUR/USD pair. Period bar used is 30
minutes.
I may upgrade it a 15 min version if I ever need to rush to get to 20
trades.
First I define the trend using the SMA of 200 periods. If price is
above the SMA, trend is bullish and I look to go long. If price is
below the SMA, trend is bearish and I look to go short.
Next I use the RSI with default settings of 14 periods. If RSI is
more
than 70 and trend is bullish, a position is opened to buy at market.
Similarly, if the RSI is less than 30 and trend is bearish, a
position
is opened to sell at market.