HI Gene
I think we need to change the logic a little.
the thing is that now we seek to enter just after the move starts an not like before where we entered before the move starts
this means the start of the move can be quite explosive and very often the RSI indicator ends up far below the top 70 (when trading shorts) or far above the bottom 30 (when trading longs) for example and this means our logic will miss a lot of trades so, can you please change the logic to the following:
if(RSIPrevious<10 && RSICurrent>RSIAveCurrent && RSIPrevious<RSIAvePrevious) Buy;
if(RSIPrevious>90 && RSICurrent<RSIAveCurrent && RSIPrevious>RSIAvePrevious) Sell;
With the above logic we can easily change the bounds to 90 / 10 (or whatever bounds people want to select) and therefore be much more selective of quality trades
I have played around some more with your indicator and seems a tight average (e.g. 2 period mov ave) works great. IN the second snapshot im using a 2 period average
Thanks '
H
I think we need to change the logic a little.
the thing is that now we seek to enter just after the move starts an not like before where we entered before the move starts
this means the start of the move can be quite explosive and very often the RSI indicator ends up far below the top 70 (when trading shorts) or far above the bottom 30 (when trading longs) for example and this means our logic will miss a lot of trades so, can you please change the logic to the following:
if(RSIPrevious<10 && RSICurrent>RSIAveCurrent && RSIPrevious<RSIAvePrevious) Buy;
if(RSIPrevious>90 && RSICurrent<RSIAveCurrent && RSIPrevious>RSIAvePrevious) Sell;
With the above logic we can easily change the bounds to 90 / 10 (or whatever bounds people want to select) and therefore be much more selective of quality trades
I have played around some more with your indicator and seems a tight average (e.g. 2 period mov ave) works great. IN the second snapshot im using a 2 period average
Thanks '
H