Good Trading to All ---- fairwind
The Daily Fozzy Method 2,814 replies
The Fozzy EA 389 replies
FOZZY Method CROSSES 808 replies
Fozzy Alt... one more approach to the Daily Fozzy Method 40 replies
Monthly Fozzy Method 9 replies
DislikedHello to everyone.
I thought this might be helpful. I modified the RSI_EMA_MTF.mq4 indicator to derive the RSI from another indicator called RSX. I changed it from EMA to SMA, used periods(8) as defaults and kept the MTF function.
What we have now is a perfect indicator for the Fozzy method. Easy to attach to an EA via iCustom().
Screenshot and all files are attached below.
Enjoy!
Spudbone
P.S. The code change was simple. I hope adding Bollinger Bands won't be terribly difficult.Ignored
DislikedHi BB and all, am new to this thread but on my visit have noticed the following. When rsi crosses above/below the 50 line (Entry in my case) a trend is in place and it seems you can stay in the trend (and your trade) until the rsi crosses back down/up the 50 line for an exit (making good pips). Some or all of you experienced traders may have already sussed this out, but if you haven't there it is. Am looking foreward to trading the 4hr and possibly the 2 or 3hr.
Regards,
DaveIgnored
DislikedHi BB (embarrassment), I didn't realise it was a back test indicator/version. In all honesty I'm not very knowlegable on backtesting/foreward testing etc, I just noticed that when rsi was above that particular level (50) that this was a good indication that a good trend was in place. I do appologise for my nievety re backtesting.
Regards,
DaveIgnored
Disliked4newbie....................I suggest you read this thread (only 155 posts) and then you write the rules for the rest of us. How about that? pls?Ignored
Disliked
my english is no good for reading such kind of info, i cant fully understnt what here exactly is written, its hard to understand ur minds when u posting...so....because of this iam asking ...
can u write rules by which u trade 4h fozzy strategy ?Ignored
Disliked4newbie...........I understand you have a difficult situation, and I truly wish there was more I could to help. However, trading the 4 Hour Fozzy is much, much more than just reading a set of rules and then mechanically following these rules to trade. Anyone who Fozzy-style trades successfully, will tell you that it is necessary to understand how this method works and develop a certain "feel" for this type of trading. This is the main reason newbies (like yourself) are encouraged to read everything in this sub-forum and do thorough backtesting before trading. I use a set of guidelines for my 4 hour trading, not a set of rules. This is the best and most honest thing I can tell you; I wish you the very best in your trading career, but I honestly believe that your success is tied directly to your also improving your grasp of the English language.Ignored