Can the Use of a Combination of Technical Indicators Be Used to Create Profitability In the EUR/USD Forex Market?
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This paper analyzes if the combination of moving averages, on balance volume, and relative strength index can lead to profitability in the EUR/USD forex market. To answer this question, I used a trading program called Investor/RT to backtest a trading model. I wrote this trading model to buy and sell based off of these technical indicators. The backtest was run four times, for four different time frames. The backtest of the model showed insignificant profit and loss numbers over the year and a half time span. This study is a steppingstone to find entry and exit points that will make this model profitable.