How to trade using the CSC-HARSI "The Real Way"
Welcome to The coffee shop. this is your host and Barista Eric. This podcast is designed to teach you the technical analysis that you should know so you can stay out of false trades in your Crypto endeavors. It's a platform where I get to release my edits of popular indicators. I'll show you how to use them, and of course from time to time I will call out really bad strategies because I don't want you guys to have bad information. Feel free to share this content where you choose and of course do Not fall for scams. I will not approach you online asking you for crypto assets Lending or any type of financial support. But bear in mind that doesn't mean I don't like talking with you guys because from time to time you will find a message from me saying hey how you do when they want to get close to you.
So it's been a while since the CSC-HARSI has been released and I think it's time I do a quick video on an entry and exit for a buy and sell on this indicator.
It has been requested by dozens of you weekly and I have seen all of the videos online on the improper way to use the old version of this indicator. Since the new one is out and it works basically on beast mode I want you guys to be using this to its fullest potential.
today's video is based on using the VWAP as the moving average against the RSI.
So let's just jump right in and get started.
go ahead and open your chart and tradingview
Search fo rCSC-HARSI, or "Coffeeshopcrypto"
Add the indicator to your chart and keep the default settings
open the settings wheel and go to the inputs tab
scroll down to RSI moving average settings and change the ma type to vwap.
Okay that's it you're ready to go and now let's talk about the rules for a long and short trade.
As you do with any chart and any day that you're going to start your trading the first thing you do is you set up your support and resistance level. Personally I do this on a 4-Hour chart. I recommend setting your support and resistance levels initially when you open your chart on a time frame 1 to 2 * above the one you're using.
for example I do my trading on a 1 hour chart so my support and resistance levels are usually set on a 4-Hour chart
Lucky for you the indicator tells you where those things are however you may want to set up your extreme levels as well. You can do that by looking at extreme points of swinging price on your chart and just put a level they're at the top and another at the bottom.
STOCHASTIC IMPORTANCE:
Before we get started let me discuss something very briefly with you about the level of the Stochastic in the indicator. The scale on the right side of the indicator is mainly designed for the stochastic to tell you how hard things are pressing on the gas. In other words if the stochastic is anywhere from zero to 50 There is almost no movement on price. However, once the stochastic is doing anything above the 50 all the way to the 100, the closer it is to 100 the more Force there is in the market. you have to remember that the Stochastic RSI was designed to be a faster RSI.
So if the stochastic is green "Bullish" and moving upwards over 70 there is A LOT of force to the upside..
If it is RED "Bearish" and it's under 50 there is a lot of force to the downside. The closer it is to ZERO the more force there is.
The strategy that I used to enter and exit using this indicator falls under these particular rules:
SHORTS:
1. The stochastic must be in a downtrend.
2. the RSI must be below its moving average.
3. The RSI must be below 50
4. Heikin Ashi candles must be red.
5. The Heikin Ashi candle must open above the moving average and close below the moving average.
6. The most optimal move is when the candle opens above the 60 and closes below the 60 while crossing the moving average.
An alternative to rule six is; If your candle opens above the 50 and above the moving average but close is below both of them at the same time this is also an entry.
Now obviously the rules for getting into long positions are exactly the opposite.
First things first, always take a look at your support and resistance levels that you set up ahead of time.
The second thing is to check your moving averages.
I commonly use a 50 and a 100. Exponential moving average.
If you are using scalping time frames which are anything from the 30 minute and Below then I would suggest using a 20 period Moving average and a 50 period Moving average.
LONG POSITIONS RULES:
1. The stochastic must be in an uptrend.
2. the RSI must be above its moving average.
3. The RSI must be above 50
4. Heikin Ashi candles must be green.
5. The Heikin Ashi candle must open below the moving average and close above the moving average.
6. The most optimal move is when the candle opens below the 40 and closes above the 40 while crossing the moving average.
7. Alternate to rule six is; If your candle opens below the 50 and above the moving average but close is above both of them at the same time this is also an entry.
So it's been a while since the CSC-HARSI has been released and I think it's time I do a quick video on an entry and exit for a buy and sell on this indicator.
It has been requested by dozens of you weekly and I have seen all of the videos online on the improper way to use the old version of this indicator. Since the new one is out and it works basically on beast mode I want you guys to be using this to its fullest potential.
today's video is based on using the VWAP as the moving average against the RSI.
So let's just jump right in and get started.
go ahead and open your chart and tradingview
Search fo rCSC-HARSI, or "Coffeeshopcrypto"
Add the indicator to your chart and keep the default settings
open the settings wheel and go to the inputs tab
scroll down to RSI moving average settings and change the ma type to vwap.
Okay that's it you're ready to go and now let's talk about the rules for a long and short trade.
As you do with any chart and any day that you're going to start your trading the first thing you do is you set up your support and resistance level. Personally I do this on a 4-Hour chart. I recommend setting your support and resistance levels initially when you open your chart on a time frame 1 to 2 * above the one you're using.
for example I do my trading on a 1 hour chart so my support and resistance levels are usually set on a 4-Hour chart
Lucky for you the indicator tells you where those things are however you may want to set up your extreme levels as well. You can do that by looking at extreme points of swinging price on your chart and just put a level they're at the top and another at the bottom.
STOCHASTIC IMPORTANCE:
Before we get started let me discuss something very briefly with you about the level of the Stochastic in the indicator. The scale on the right side of the indicator is mainly designed for the stochastic to tell you how hard things are pressing on the gas. In other words if the stochastic is anywhere from zero to 50 There is almost no movement on price. However, once the stochastic is doing anything above the 50 all the way to the 100, the closer it is to 100 the more Force there is in the market. you have to remember that the Stochastic RSI was designed to be a faster RSI.
So if the stochastic is green "Bullish" and moving upwards over 70 there is A LOT of force to the upside..
If it is RED "Bearish" and it's under 50 there is a lot of force to the downside. The closer it is to ZERO the more force there is.
The strategy that I used to enter and exit using this indicator falls under these particular rules:
SHORTS:
1. The stochastic must be in a downtrend.
2. the RSI must be below its moving average.
3. The RSI must be below 50
4. Heikin Ashi candles must be red.
5. The Heikin Ashi candle must open above the moving average and close below the moving average.
6. The most optimal move is when the candle opens above the 60 and closes below the 60 while crossing the moving average.
An alternative to rule six is; If your candle opens above the 50 and above the moving average but close is below both of them at the same time this is also an entry.
Now obviously the rules for getting into long positions are exactly the opposite.
First things first, always take a look at your support and resistance levels that you set up ahead of time.
The second thing is to check your moving averages.
I commonly use a 50 and a 100. Exponential moving average.
If you are using scalping time frames which are anything from the 30 minute and Below then I would suggest using a 20 period Moving average and a 50 period Moving average.
LONG POSITIONS RULES:
1. The stochastic must be in an uptrend.
2. the RSI must be above its moving average.
3. The RSI must be above 50
4. Heikin Ashi candles must be green.
5. The Heikin Ashi candle must open below the moving average and close above the moving average.
6. The most optimal move is when the candle opens below the 40 and closes above the 40 while crossing the moving average.
7. Alternate to rule six is; If your candle opens below the 50 and above the moving average but close is above both of them at the same time this is also an entry.
