Simple Systematic Double RSI/Fisher system- 1h-D Time Frames | Forex Factory

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Simple Systematic Double RSI/Fisher system- 1h-D Time Frames

  • #1
  • First Post: Edited Jun 22, 2014 10:48am Jun 11, 2014 11:31am | Edited Jun 22, 2014 10:48am
Hello everyone, wanna share a simple system that I came across that really looks interesting.

Constructive Comments and opinions are welcome.

Do not add any other indicators as it will just become too messy and lose focus.

Chart Setup

RSI 2
RSI 12 in the same window.

Fisher -Period 10

Long Entry-

1) RSI 2 crosses 30 upwards and cuts the RSI 12
2) Fisher is green

Short Entry-

1) RSI 2 crosses 70 downwards and cuts RSI 12
2) Fisher is red


Note: for those who love to say this repaints, that repaints, WAIT for candle close!

On the DAILY chart that I have posted, I have marked out two possible entries
with the purple lines. Both which made 100+ pip moves.


R/R- Own Discretion.
For SL, I use 100 pips
and TP is trailing stop.
I try not to risk more than 3% of my overall capital.

And its easy to point back at charts and show possible entries BUT i'll be showing Possible trades that I am personally taking.
Will post more examples soon.

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB
Attached File(s)
File Type: mq4 Fisher_m11.mq4   6 KB | 1,608 downloads | Uploaded Jun 22, 2014 10:47am
File Type: ex4 Fisher_m11.ex4   5 KB | 1,244 downloads | Uploaded Jun 22, 2014 10:48am
  • #2
  • Jun 11, 2014 11:34am Jun 11, 2014 11:34am
Another example, with the same EUR/AUD chart.
I prefer to trade the daily chart as you dont have to make many trades, Max 1-2 trades a month.
But ALOT of patience is required!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 43 KB
  • #3
  • Jun 11, 2014 11:56am Jun 11, 2014 11:56am
Another example

NZD JPY
Daily

The purple lines mark out the trades that could be taken.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 56 KB
  • #4
  • Jun 11, 2014 12:45pm Jun 11, 2014 12:45pm
Nice Saticdoor86!

The 2RSI is used in some of the systems at Steve Hopwoods Forum and some say there that its the best indicator they've used.

I got to look into this more...thanks for the heads up!

http://www.stevehopwoodforex.com/phpBB3/index.php
  • #5
  • Jun 11, 2014 1:23pm Jun 11, 2014 1:23pm
Quoting Poocher
Nice Saticdoor86! The 2RSI is used in some of the systems at Steve Hopwoods Forum and some say there that its the best indicator they've used. I got to look into this more...thanks for the heads up! http://www.stevehopwoodforex.com/phpBB3/index.php


no prob!

yes it is, it may not be perfect but its enough to produce a 1:2 risk reward ratio consistently.
keep me updated!
  • #6
  • Jun 11, 2014 1:29pm Jun 11, 2014 1:29pm
another example that took place just days ago.
EUR NZD
250 Pip move.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 53 KB
  • #7
  • Jun 11, 2014 2:07pm Jun 11, 2014 2:07pm
hi, please post your indicators and tpl file.
Thanks!
  • #8
  • Jun 11, 2014 2:44pm Jun 11, 2014 2:44pm
If you are trading with the money management described in the first post, do you really need the RSI, because from the charts posted (haven't tried the system yet) you are good to go with the Fisher only and a decent trailing stop.
  • #9
  • Jun 11, 2014 2:48pm Jun 11, 2014 2:48pm
As per I know Fisher is a repainting Indi, If it is not repaint then it is the best indi ever.
Every man who thinks ahead of his time is sure to be misunderstood.
  • #10
  • Jun 11, 2014 5:43pm Jun 11, 2014 5:43pm
Quoting Nihilist
As per I know Fisher is a repainting Indi, If it is not repaint then it is the best indi ever.
You can find out if it repaints by watching it on the 1 min chart.
  • #11
  • Jun 11, 2014 5:53pm Jun 11, 2014 5:53pm
The Fisher repaints.

Here's a non repainting Fisher.
Attached File(s)
File Type: mq4 Fisher_no_repainting.mq4   6 KB | 2,128 downloads
  • #12
  • Jun 11, 2014 8:00pm Jun 11, 2014 8:00pm
How do we incorporate 2 RSI in the same window?
  • #13
  • Jun 11, 2014 11:52pm Jun 11, 2014 11:52pm
Quoting ksofty
If you are trading with the money management described in the first post, do you really need the RSI, because from the charts posted (haven't tried the system yet) you are good to go with the Fisher only and a decent trailing stop.
IMO, trading with just one indicator can lead to many false signals, and can be quite dangerous.
and the 2RSI is the main component of this system, not the Fisher.

have a good day!
  • #14
  • Jun 11, 2014 11:53pm Jun 11, 2014 11:53pm
Quoting Nihilist
As per I know Fisher is a repainting Indi, If it is not repaint then it is the best indi ever.

thats why i use the daily charts, rarely repaints there.
  • #15
  • Jun 11, 2014 11:54pm Jun 11, 2014 11:54pm
Quoting billbss
The Fisher repaints. Here's a non repainting Fisher. {file}

thank you!
  • #16
  • Jun 12, 2014 12:00am Jun 12, 2014 12:00am
Quoting pohchuan
How do we incorporate 2 RSI in the same window?

First, put the 12 RSI.
then drag the RSI option on top of the 12 rsi and change it's options to 2.

hope this helps.
  • #17
  • Jun 12, 2014 12:15am Jun 12, 2014 12:15am
Quoting saticdoor86
{quote} First, put the 12 RSI. then drag the RSI option on top of the 12 rsi and change it's options to 2. hope this helps.

Apologies......I'm no good at this.

Can elaborate more? I'm using MT4. Many thanks
  • #18
  • Jun 12, 2014 12:23am Jun 12, 2014 12:23am
Heres the indicator and template.

Been pretty busy. will be posting more chart examples soon.

Have a good day.
Attached File(s)
File Type: mq4 Fisher_Yur4ik.mq4   2 KB | 1,463 downloads
File Type: tpl # 2rsi.tpl   2 KB | 1,410 downloads
  • #19
  • Jun 12, 2014 1:32am Jun 12, 2014 1:32am
Quoting saticdoor86
{quote} First, put the 12 RSI. then drag the RSI option on top of the 12 rsi and change it's options to 2. hope this helps.
Thanks so much for your thread.

It is very informative.

keep doing the nice job!
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #20
  • Edited 2:15am Jun 12, 2014 1:52am | Edited 2:15am
Quoting saticdoor86
TP is trailing stop. I try not to risk more than 3% of my overall capital. And its easy to point back at charts and show possible entries BUT i'll be showing Possible trades that I am personally taking. Will post more examples soon. Cheers! {image}
How do u use trailing stop?

There is no reflection of 1H on the charts u have posted so far.

What is the relevance of 1H in the name of the thread?

Thanks!
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
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