Swing trading strategy based on RSI (1 Day chart)

Trading Systems
1

I am working on a new swing trading system on 1D chart.

Here are a few examples

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Strategy pretty simple. Trade when RSI > 69 and Stoch RSI >= 100. Use RSI as first confirmation and then use Stoch as second. Stoch must be high. This is squeese up strategy I think?

I will place around 100 orders today and over weekend I will give update. I am trading on 1D chart.

2

I always prefer the D1 chart. there are very few strategies that work well if they do not work well on D1.

But is your diagram completely right?

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3

There are my scanner settings.

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SELECT * FROM tradingview WHERE rsi >= 67 AND rsi <= 71 AND k > 59 AND close < 20 AND k = 100 ORDER BY tradingview.k ASC;

RSI = Relative Strenght Index (fast)
K = Stoch RSI (I dont know, but the other RSI)
Close = Last day close

4

You can remake the same interface on Tradingview. We can to buy when the stock is squeezing up. On 1D chart this happens every 1-3 months. So its a rare signal

5

Most professionals trade on 1D charts. They hold for 1-3 days, sometimes 7-14 days. I seen multiple stocks go from $7 to $50 in 7 days on 1D charts.

6

I am instantly $189 in drawdown.

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Made a few bad trades. 88 trades in total. Spent $10k capital. Other tickers pretty bad spread cause of volume. I think my volume indicator is not working properly.

Let’s wait for 2-3 days!

7

Is this a new strategy? As far as I can see, you’re buying what look like sell signals to me.

What type of trading is this? CFD or something else?

9

I don’t know if it’s new but every hedge fund is basically looking at moving average and overbought or undersold conditions. Of course you could day trade on 5M chart on gap fills but then you must have minimum $25k in your account

There is like a million ways to trade.

No CFD, it’s regular stocks.

I remember 10 years ago the Spotify IPO was launched. I was thinking for $8 per stock thats a very good price. Now Spotify is worth $250 per share. Keep your eyes open for every possibility.

10

Right now just building my screener. So I am testing every trade

Another good screener is when the stock price touch the moving average. At this moment I am just collecting all data

11

Really? Are you sure? Do they also have “oversold” as the top line on their charts, like you do, or do they perhaps call that “overbought”?

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