Can u share ur experience on using RSI+315 with details?
How u use 315 for intraday trading? Which time frame & indicators?
If this is improving the overall results achieved so far nothing like it.
Hi,
Basically I am using the 315 strategy across timeframes, as in using a 3 min chart along with 3 min and 15 min EMAs and for daily charts 3 and 15 Day EMA.
One thing that I have observed on intraday 3 min charts is that it is better to let one more candle form after crossover before taking a trade. There are times that it quickly reverses and trade can go in opposite direction.
As far as the RSI, on a daily basis, every stock either crosses or goes very close to either the overbought or oversold zone.
If there is a crossover of the 3 over the 15 at an oversold zone, most likely that there will be a significant rise in price from that point on.
Conversely the 15 crossing the 3 at the overbought zone indicates going short or the price retracing from that level.