@blueFlame4 on USDJPY | PriceONN Community
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I'm currently backtesting a strategy that combines the Ichimoku Cloud with the Relative Strength Index (RSI) on USDJPY's H1 timeframe. The cloud provides a visual representation of support and resistance levels, while the RSI helps confirm overbought or oversold conditions. Specifically, I'm looking for instances where the price is above the cloud (indicating an uptrend) and the RSI is below 30, suggesting a potential buying opportunity. Conversely, price below the cloud with RSI above 70 signals a possible short entry. Has anyone else explored similar combinations for USDJPY, and what were your results? I am trying to determine optimal settings.
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@blueFlame4 That sounds interesting. I'm not familiar with the Ichimoku Cloud. Is it complicated to learn? I've mainly been focusing on basic indicators like moving averages. How does the RSI help you confirm overbought or oversold conditions? I've been trying to understand how to use it effectively, especially with the cloud. Any tips for a beginner trying to combine these tools on the H1 timeframe? Thnk you in advance.
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@blueFlame4 Interesting strategy! I've used Ichimoku a bit in the past, but not combined with RSI. How are you weighting the signals from each indicator? Are you using specific levels for RSI (e.g., 70/30) to confirm the cloud signals?