Hello. I was doing a similar study. however, it is misleading to identify excessive purchases and excessive sales using the osilator. When the price moves slowly, the oscillator calms down. never goes into extreme condition. this means a lot of opportunity to miss.
Hey guys,
Quick snap shot of the account 0.6% this week so far. Had to get involved and move TP to break even on the AUD/USD which had 3 trades open for a couple of trades. Other than that nothing too much to worry about. No trades open, always nice!
Quick snap shot of the account 0.6% this week so far. Had to get involved and move TP to break even on the AUD/USD which had 3 trades open for a couple of trades. Other than that nothing too much to worry about. No trades open, always nice!
Never stop investing. Never stop improving. Never stop doing something new
[quote=Christonly;12223507] just check now it working fine thanks
{quote} Hi! I get what you mean and your right there step plenty of trading opportunities within the extremes. I’m trying to locate high probability setups that I steal a few pips.[/quote Zoheb I think that RSI indicator need an update, just download the indi and it not working.
Hey guys, update on where we are. I've just got back from holiday and I was holding 7 USD/JPY trades throughout the whole holiday, 3 of which were discretionary trades. They all closed out at BE today!
Just under 11% ROI on the balance with the equity at 8.7% ROI.
Most of the DD is on the USDCHF. I've decided to move TP to BE due to the number of trades open.
v1.1 of the EA is ready to go live on this demo account. Please see Post 64 if you want to know the developments of v1.1. I'm excited about this version as the USDCHF DD wouldn't of happened with the new system as it uses the MACD to confirm the trend change.
Out of the 7 pairs, I've turned the EA off on 4 pairs where 3 pairs are still have the EA running (pairs with open trades). When all trades close out I will make the switch to v1.1. Growth will be slower until all pairs are back up and running.
Looking forward to the next evolution of the EA.
Just under 11% ROI on the balance with the equity at 8.7% ROI.
Most of the DD is on the USDCHF. I've decided to move TP to BE due to the number of trades open.
v1.1 of the EA is ready to go live on this demo account. Please see Post 64 if you want to know the developments of v1.1. I'm excited about this version as the USDCHF DD wouldn't of happened with the new system as it uses the MACD to confirm the trend change.
Out of the 7 pairs, I've turned the EA off on 4 pairs where 3 pairs are still have the EA running (pairs with open trades). When all trades close out I will make the switch to v1.1. Growth will be slower until all pairs are back up and running.
Looking forward to the next evolution of the EA.
Never stop investing. Never stop improving. Never stop doing something new
Hi zoheb01,
thank you for this great idea and the free indicator
I love RSI and I hate it at the same time, because it can make a fortune and it can behave like a b...ch.
The "heads up" idea is realy what every trader should have in his arsenal of weapons, beating the marketmakers, where ever he can.
MTF is even better.
As you know for sure, very, very often the signal would be brilliant, if RSI would act like it is supposed to.
But in so many market situations, when you have your indi running with current and at least one timeframe higher.
the smaller tf rsi has already left obos zone, because of building a differgence, while higher tf is still on his way into, or within obos zone.
That way, no signal is possible, which would have made a good profit.
What, if you modify your indi, to be able to skip timeframes ?
For example: You are trading the M15 and set the indicator to only check for "heads up" signal in H1. So no signal for M15 or M30 will trigger, only if H1 is in obos
the indicator triggers an alert.
The disadvantage of RSI is that it calculates the prev. gains and losses and often times when it hits obos zone, it only means, "there is more to come" and not
a turn in price, like we all would love. The boundary between 0 and 100 forces rsi to build divergences as any oscillator does.
That`s why "skipping" one or two timeframes "can" be a huge help.
What do you think?
P.S.: If you combine this with the pure PA indis from the "my last humble request" thread, you will be smiling all day.
thank you for this great idea and the free indicator
I love RSI and I hate it at the same time, because it can make a fortune and it can behave like a b...ch.
The "heads up" idea is realy what every trader should have in his arsenal of weapons, beating the marketmakers, where ever he can.
MTF is even better.
As you know for sure, very, very often the signal would be brilliant, if RSI would act like it is supposed to.
But in so many market situations, when you have your indi running with current and at least one timeframe higher.
the smaller tf rsi has already left obos zone, because of building a differgence, while higher tf is still on his way into, or within obos zone.
That way, no signal is possible, which would have made a good profit.
What, if you modify your indi, to be able to skip timeframes ?
For example: You are trading the M15 and set the indicator to only check for "heads up" signal in H1. So no signal for M15 or M30 will trigger, only if H1 is in obos
the indicator triggers an alert.
The disadvantage of RSI is that it calculates the prev. gains and losses and often times when it hits obos zone, it only means, "there is more to come" and not
a turn in price, like we all would love. The boundary between 0 and 100 forces rsi to build divergences as any oscillator does.
That`s why "skipping" one or two timeframes "can" be a huge help.
What do you think?
P.S.: If you combine this with the pure PA indis from the "my last humble request" thread, you will be smiling all day.
Hi zoheb01, thank you for this great idea and the free indicator
I totally understand what you mean about "skipping" time frames, and it's something I can look at.
At this stage, I'm focussed on fine tuning the RSI MTF EA for consistant profitable gains.
I've also reviewed the my last humble request thread and it has some interesting ideas to explore
Never stop investing. Never stop improving. Never stop doing something new
{quote} Many thanks for your input, it's much apprecaited. I totally understand what you mean about "skipping" time frames, and it's something I can look at. At this stage, I'm focussed on fine tuning the RSI MTF EA for consistant profitable gains. I've also reviewed the my last humble request thread and it has some interesting ideas to explore
Respect. You must be on track of something realy good....
Your indis PA and RSI mtf are realy good already, good job.
Ok, here is a pic, and yes it took 1 minute to cherry pick that picture, but I hope you see the potential of what I was talking about in post 72.
We have a lot of VIP traders in "my last humble request" thread waiting for your modified RSI MTF-heads up indicator, to be able to combine it with
my idea of pure PA of the marketmakers...
....I think this can be a huge advantage to make trading simpler and more calm.Ok, a short overview: V 01 of our pure PA indi shows a dot when there is a higher high than last candles high. So bulls are bit stronger than bears for a short time within the candle (can see it as "heads up" also) (for short inverse)
In the pic Aqua and Gold. Dot with an arrow means change of direction.
V 02, the core idea, shows a dot when price AND close are higher than last candles high. So bulls do realy have more power than bears.
It is the confirmation of v 01...
In the pic Blue and Red. Dot with an arrow means change of direction. V 02 is put as the second indi on the chart to cover redundant dots and arrows of v 01 (little trick)
Now watch the circled arrows drawn by hand when RSI 5 (yeeess, the fib number hardcore version) H4 is leaving level 80 obos....
In the cherry picked chart I had to search for 1 minute it aligns with raw PA of V 01 and V 02 following the big arrows of RSI H4, the perfect setup.
The red lines on chart are mtf fractals.
Ok, you say, if it is that perfect....why do you need a rsi- mtf- wash- my- car- and- paint- my- house- confirmation indicator ???
...The same reason mankind needs confirmation for everything...which is healthy.
Thanks again for you work. I realy do hope you explore what we `ve got here...
Hey guys, part 7 of the EA journal is now up, and I'm excited to bring to you the RSI MTF EA v1.1 which is now live and being forward tested on the demo. Will give an update tonight on how trading went today. Enjoy! https://www.youtube.com/watch?v=wyg8KGZ1g4E
Created my own simple EA to trade with the macd filter
So basically wait for arrows to pop up
Then set my EA to trade in direction of the arrows
If I open more then 1 trade i look for breakeven by increasing the lot size by 0.01
