Kthrapp Hey Dude long time! Yes above chart has 3 overlayed RSI's 3, 14 and 34 looking for all 3 to come to sharp point at Bottom or top then look for reversals on the ab ove chart also got a bullish divg. which usually gives a larger reversal.
Silly question but I assume the the all three RSI's are based on price of the range bars, not the last two being based on the original RSI indicator. See if my software will let me over lay an RSI with another RSI. E-Signal can kind of picky about that. A moving average or bands would do it easily.
I had a pretty flat day myself. So playing with my charts.
There are about a dozen registered traders, and occasional drop-ins. Generally, there are two of us there. I'm usually there for NY and the other guy is usually there for London and part of NY. We would be glad to have more people join us to help in spotting good set-ups, currency strength changes, good exits, and for just for chatting when it's slow. We're primary trading 5 minute charts with timed-candles, using Rocky's Rules. Come join us!
Hi! I like to particpate, but Im having a hard time setting up range bar charts in MT4. Besides, I am new to MT4. I don't get the idea behind offline charts. It seems range bars need to be running on those offline charts. I can't the see the logic though. When I switched my computer on today, I noticed price had stalled on the range bar chart, where I switched of my computer yesterday. Do I need my computer up and running 24/7 in order to trade from range charts? Im confused. Attached the ea I am trying to install.
Any ideas? Thanks in advance for any input. Many pips to you,
Nice trades on a quiet day! Why didn't you trade EJ short (~128.34) 1.5 hours before USD news today? ....also UJ short at about the same time, too.
The only reason I can see is that both trades are against a longer-term strong UP trend.
Also, for USD news releases (except NFP) I've been setting Stop Orders on either side of good consolidation on UJ. After the News Release price seems to move either: 1) not at all or 2) in only one direction for at least +10 pips. What are you thoughts on setting Stop orders on UJ if it is well consolidated, 5-10 pips away from price, just before a News Release?