BB Stops RSI Super Smooth is a combination of RSI and Bollinger Bands Stops, used to identify the potential swing areas of the market. It applies a crossover system that signals for potential changes in market momentum. The signals are demonstrated in a pretty simple way thus easier to understand and apply for trading.
BB Stops RSI Super Smooth can be used for both intraday and scalping purposes, therefore, it suits well with all sorts of timeframe charts. Besides, this indicator can be applied to trade all kinds of forex currency pairs in the market.
BB Stops RSI Super Smooth Overview
Download and install the indicator on your MT4 terminal. Once you’re done, load it and find your trading chart like the following image:
BB Stops RSI Super Smooth Explanation
BB Stops RSI Super Smooth plots crossover in between BB Stops and RSX in order to plot the trading signals. RSX moves above the BB Stops mean it is a bullish crossover. On the other hand, BB Stops moves above RSX when it is a bearish crossover.
Crossover signals opposite to your opened positions should be considered as trade exit signals. These crossover signals are pretty easy to understand and offer good advantages, especially for the newbie traders.
Also Read: XM Broker Review
BB Stops RSI: Buy Conditions
- RSX moves above BB Stops
- Price breaks above its current range
- A buy can be triggered when the above conditions are met
- Set stop loss below the current market low
- Exit long/take profit whenever RSX moves below the BB Stop level
BB Stops RSI: Sell Conditions
- RSX moves below BB Stops
- Price breaks below its current range
- A sell can be triggered when the above conditions are met
- Set stop loss above the current market high
- Exit short/take profit whenever RSX moves above the BB Stop level