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Multi time frame Simple MACD system 823 replies
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Disliked{quote} There were a few of them in this thread... https://www.forexfactory.com/showthread.php?t=556504Ignored
DislikedHi Zoheb By MTF RSI are you referring to what I had suggested a few posts back, whereas we could set different levels for different TFs and get an alert once all three cross those levels. Because that would be great. I have set up all 29 charts this weekend with the following scenarios; Monthly chart with a 200 ema and RSI levels of 70 and 30 Only look for trades on lower TFs for sell under 200 and buys if over 200 Weekly chart RSI levels of 80 and 20 Daily chart RSI levels of 90 and 10 After going thru all those charts and over 100 trades of TP...Ignored
Disliked{quote} Here are the first two MTF RSI trades taken on daily chart as per quoted parameters. This is just proof of concept right now, position size would be much greater if proven profitable. Maybe scaled down to lower TFs in the future. Cant wait for Indicator... {image} Thanks for the idea Zoheb. ChrisIgnored
DislikedHey Guys, I am happy to share with you my latest indicator that I have developed. It's called the OGT RSI Multi Time Frame Indicator. The indicator provides an early warning indication that price MAY be about to reverse. It looks to see if the RSI is OB/OS on multiple time frames. The RSI can be customised to suit your trading needs. You can also set how many additional time frames to check using the higer_TF_quantity input. For example if this was set to 2 then it would check the current time frame and the next 2 higher time frames. Example: Current...Ignored
Disliked{quote} I could potentially do something like this: User can select up to 3 time frames (first time frame must be current). For each TF the user can select their own RSI period and OB/OS levels and whether its applied to close or not. When all three TF meet condition together then signal is provided. Will not take into account the EMA. Does this work?Ignored
Disliked{quote} Here's something that you can play with....demo only...only RSIs and doesn't consider EMA. {file}Ignored
DislikedWay to go Zoheb keep it coming. Have you tried 3 TF yet? I know we were discussing this a while ago, Looks very promising. ChrisIgnored
Disliked{quote} Hi Chris, Yes I did. It was also profitable on backtest but didn't take as many trades. It's a trade off between the frequency of trades and the quality of the signal. System made 0.6% so far today with no open trades or drawdown. Like I mentioned in my videos, days like these are great but rare. How amazing would it be making 0.6% gain daily with little to no drawdown Thanks, Zoheb.Ignored
Disliked{quote} why not use a SL? If you have a really strong trend against you - you will maybe run into problemIgnored