The currency pair EUR/USD made a strong downward movement last month of almost 400 pips. This led STS_RSI_MTF_Indicator values to very low levels - currently the Monthly RSI is 28. This gives the possibility for two scenarios.
1. The current Month should be on in uptrend.
2. The current Month should be in range.
Whichever scenario develops, the long positions will be more likely. An additional condition for this is the result of the backtest of the pair with our STS_Zig_Zag_Tester, which shows that the last series of long positions are at loss and the winning long positions in the strategy are forthcoming.
Because of the above arguments, we loaded our STS_Zig_Zag_Bot to open long positions on the M30 Timeframe. The Bot will open long trades on each candle in which we have a descending 12-period Zig Zag and will close them on an ascending 20-period Zig Zag.
Get your STS_Zig_Zag_Bot now: https://smarttradingsoftware.com/en/expert-advisors/prd/sts-zig-zag-bot/
Get your STS_Zig_Zag_Tester now: https://smarttradingsoftware.com/en/market-testers/prd/sts-zig-zag-tester/
Get your STS_ATR_Distance_Indicator now: https://smarttradingsoftware.com/en/indicators/prd/atr-distance-indicator/
Get your STS_RSI_MTF_Indicator now: https://smarttradingsoftware.com/en/indicators/prd/sts-rsi-mtf-indicator/
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