Your trade plan, as follows:
- Obtain a copy of my _RSI2_ indicator.
2. Open positions based on the indicated color – red or green
2a. Play one direction only, the color changing stochastic line is your main guide
2b. Fine tune your entry with the RSI2 values (black line).
- On a green background, open buy when the RSI2 is below 23.
- On a red background, open sell when the RSI2 is above 77.
3. Wish upon a star.
3a. Your Exit signal is a star followed by no star.
3b. Or the stochastic line changing to gray.
As you can see from the image above you had your exit signal before the gap up over the weekend. And the plain above was called a sell all along.
You may further ease your life by obtaining a copy of my _88_Luftballons indicator, which would plot the current RSI2 readings with large billiard ball numbers that are visible from the other side of the room. It also has about a zillion features that can extra fine-tune those entries and exits.
The latest new feature is the “time is up” powder blue boxes.