RSI edgin

ieri

this strategy is on the 5 min timeframe

step 1 - Find the candle where the rsi just crossed below 20 and mark it as candle 1

step 2 - mark the high of candle 1 and wait for a candle to break the high and close above it. Once the candle closes above the candle 1 high, we will mark it as candle 2.

step 3 - when the candle 2 comes, there are 2 ways

a. If candle 2 is formed and rsi hasnt crossed above 50 we will wait for rsi to cross above 50

b. if candle 2 is formed and rsi has already crossed above 50 move to step 4

step 4 - once rsi is above 50 mark the low between candle 1 and candle 2 and when a candle breaks and closes below the low, we will mark it as candle 3.

step 5- Mark the high between candle 1 and candle 3, once a candle crosses above the high and closes above the high, we will take our entry

Stop loss - at the low between candle 1 and candle 3.