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RSI Crossover Method EA Reqd

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  • First Post: May 3, 2007 7:38am May 3, 2007 7:38am
  •  Pinggarcia
  • | Joined Feb 2007 | Status: Member | 28 Posts
Hi,

Anyone can help me create an EA for this one, so we can back test it faster and more accurately?

Initially, I have manually tested this one on EURUSD pair, and it seems to be doing fine.

Here's how it goes:

I use RSI-5 and RSI-14
1H time frame

Here's the entry point, for BUY:

When the value of RSI-14 go lower than 40, then on its way up, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-15, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the BUY position, wait for RSI-14 to reach 60 level or above. Then wait for the RSI-5 to cross it on its way down.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.




Here's the entry point, for SELL (although BUY seems to be doing better in manual testing)

When the RSI-14 go higher than 60, then on its way down, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-14, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the SELL position, wait for RSI-14 to go down to 40 level or below. Then wait for the RSI-5 to cross it on its way up.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.

Another feature is to set the SL and TP at 20 pips. When I do the manual testing, I did not include any SL and T I use RSI-5 and RSI-14
1H time frame

Here's the entry point, for BUY:

When the value of RSI-14 go lower than 40, then on its way up, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-15, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the BUY position, wait for RSI-14 to reach 60 level or above. Then wait for the RSI-5 to cross it on its way down.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.




Here's the entry point, for SELL:

When the RSI-14 go higher than 60, then on its way down, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-14, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the SELL position, wait for RSI-14 to go down to 40 level or below. Then wait for the RSI-5 to cross it on its way up.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.


Another feature is to set the SL and TP at 20 pips. Initially, when doing the manual testing, I do not set any SL and TP (I know, very dangerous), and it seems to be doing quite well.

As I mentioned above, this seems to be working fine with EURUSD. I wanted to back test it with other pairs too. Is that possible to make an EA on this and back test it "automatically"? Anyone please?

Thanks,
Ping


As I said, this seems to be working fine with EURUSD. I wanted to back test it with other pairs too. Is that possible?
  • Post #2
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  • Last Post: Nov 9, 2009 7:51am Nov 9, 2009 7:51am
  •  yiwanyii
  • | Joined Dec 2008 | Status: Member | 3 Posts
looks nice
 
 
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