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RSI Multi Time Frame Indicator/System

  • #101
  • Mar 8, 2020 3:59am Mar 8, 2020 3:59am
Hey guys, I've been running the RSI MTF EA on a demo account for just over 3 months now.

It's running on a VPS on the EUR/USD M5 chart.

The EA has achieved 11% ROI in the 3 months. EA not perfect, but feel there is room for improvement to make me confident to go live with this. The issue is the potential DD it can get into.

Check out my latest video which goes through the recent trades.

Feedback always welcomed

Inserted Video


Zoheb
Never stop investing. Never stop improving. Never stop doing something new
  • #102
  • Mar 9, 2020 6:24am Mar 9, 2020 6:24am
hey zoheb01, thanks a lot for the EA, i didnt see in the settings anything about SL..is there a possibility to add this option?
  • #103
  • Mar 9, 2020 12:18pm Mar 9, 2020 12:18pm
i try to understand how the ea works but he shouldn't take this one?
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  • #104
  • Mar 10, 2020 2:57pm Mar 10, 2020 2:57pm
Quoting benjamin89
i try to understand how the ea works but he shouldn't take this one? {image}
If you had the MACD filter on then it would of taken the trade where I highlighted in yellow.

Attached Image (click to enlarge)
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Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
  • #105
  • Mar 11, 2020 5:35am Mar 11, 2020 5:35am
Quoting zoheb01
{quote} If you had the MACD filter on then it would of taken the trade where I highlighted in yellow. {image} Zoheb.
i have the macd on true
dont know why he missed the first on but the second one also by the rules should have been taken
  • #106
  • Mar 15, 2020 4:19am Mar 15, 2020 4:19am
Quoting benjamin89
{quote} i have the macd on true dont know why he missed the first on but the second one also by the rules should have been taken
Difficult to say without looking at the chart, more than likely it will be the spread filter setting.
Never stop investing. Never stop improving. Never stop doing something new
  • #107
  • Mar 15, 2020 9:57am Mar 15, 2020 9:57am
Dear Zoheb
Nice EA you have which I believe is one of the best around as an idea.
Can I ask you to check the possibility to change the settings of the macd filter?
For example, you can use 5-13-1 with a 2 colour macd
See Picture attached where I have placed the blue vertical line. The oversold arrow disappeared and the macd at the subwindow is the red bar.
You can make the EA taking 2 trades one that goes for the first target 0.5% as you have it or just 10 pips and the second to trail in profit starting from the first target and on.
Maybe with the way you can make the EA more profitable because I believe for us ( small traders) is a kind of hit a run situation to make profit.
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  • #108
  • Mar 16, 2020 1:17am Mar 16, 2020 1:17am
Looking forward to a good thread. Thanks and
Regards
  • #109
  • Mar 16, 2020 2:55am Mar 16, 2020 2:55am
Thanks for the EA. I tried it on a demo account. I can see this is a no stop-loss strategy. The EA will take profits however simply let the losses run with the hope that sometimes in the future the profits will be enough to cover the losses. My suggestion is to add an option such as exit then RSI reverses. So cutting the potential losses early instead of letting the losses accumulating.
  • #110
  • Jun 29, 2020 2:54pm Jun 29, 2020 2:54pm
Quoting pipchef
Thanks for the EA. I tried it on a demo account. I can see this is a no stop-loss strategy. The EA will take profits however simply let the losses run with the hope that sometimes in the future the profits will be enough to cover the losses. My suggestion is to add an option such as exit then RSI reverses. So cutting the potential losses early instead of letting the losses accumulating.
That's a good idea. I will look into it.

I use the Average Price indicator to help me "trade out of trouble"

Here is a video of how I use it

Inserted Video


Attached File(s)
File Type: ex4 average_price_v_3_0.ex4   11 KB | 644 downloads
Never stop investing. Never stop improving. Never stop doing something new
  • #111
  • Jun 30, 2020 10:20am Jun 30, 2020 10:20am
Dear Zoheb01. Thanks for the EA. But can you please help us with the settings. What is the lot that the EA place trades? How we change it? How the next trade is placed if the first is not hit the target set? what is the signal distance per cent means? And finally what is the gain per cent of balance means?
  • #112
  • Jul 2, 2020 4:08am Jul 2, 2020 4:08am
The EA is working only on the 5-minute timeframe?
  • #113
  • Jul 26, 2020 4:41am Jul 26, 2020 4:41am
Hey Traders

I’ve created a number of indicators, and the most common questions I get are:

What is my “best” indicator and what are the “best” settings?

This week I’ve decided to share the MT4 template of how I setup my MT4 chart and the indicators I’m currently using to trade the Forex markets.

The video below walks through the template of what indicators I use and how I use them. I share examples of previous trades and how I use the indicators to tell me a story of what’s happening on the chart and whether to enter.

Inserted Video

List of indicators needed for the template:

OGT Price Action Indicator v1.3
OGT Trend Dashboard Indicator v1.1 (Need to change Symbol when loaded, watch video)
OGT RST MTF Indicator v1.1
Moving Averages (part of MT4 platform)
Round Numbers Indicator (Free from MQL5 marketplace – watch video)
MACD LWMA v1.01 Indicator (not my indicator but love it!)

Indicators attached for ease.

Attached File(s)
File Type: ex4 MACD LWMA v1.01.ex4   11 KB | 677 downloads
Attached File(s)
File Type: ex4 OGT Price Action Indicator v1.3.ex4   47 KB | 728 downloads
Attached File(s)
File Type: ex4 OGT RSI MTF Indicator v1.1.ex4   15 KB | 772 downloads
Attached File(s)
File Type: ex4 OGT Trend Dashboard v1.1.ex4   57 KB | 716 downloads

Attached File(s)
File Type: tpl OGT Trading MT4 Template.tpl   21 KB | 626 downloads


Any questions let me know.

Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
  • #114
  • Jul 26, 2020 5:05pm Jul 26, 2020 5:05pm
Quoting christos1967
The EA is working only on the 5-minute timeframe?
Hi, it works on any time frame.
Never stop investing. Never stop improving. Never stop doing something new
  • #115
  • Jul 26, 2020 5:09pm Jul 26, 2020 5:09pm
Quoting christos1967
Dear Zoheb01. Thanks for the EA. But can you please help us with the settings. What is the lot that the EA place trades? How we change it? How the next trade is placed if the first is not hit the target set? what is the signal distance per cent means? And finally what is the gain per cent of balance means?
Hi, The lot size is determined by the % you want to make per trade.

Example:

£1000 account
Pips per trade: 5
gain % of balance make per trade: 1%

1% of £1000 = £10

£10 / 5 pips = £2 per pip / 0.2 lots

The EA will open an additional trade if RSI MTF signal happens and there are trades still open. Set signal distance to 0.
Never stop investing. Never stop improving. Never stop doing something new
  • #116
  • Sep 6, 2020 4:49am Sep 6, 2020 4:49am
The long awaited OGT RSI MTF v1.2 Indicator update is finally here.

First and foremost in v1.2 you can now SWITCH OFF notifications! This has been probably the most requested update for this indicator, and I'm sorry it's taken so long!

Over the last year I've been noting down all your improvements, and the common theme is to filter out aggressive trends. In v1.2 I've added 6 FILTERS for you to choose from (you can disable the filters). Simply select the filter and your desired time frame to check.

The filters included are:

1) Moving Average - Like the OGT Trend Dashboard indicator. It uses a slow, medium and fast period moving average
2) ADX - Find non trending higher time frames
3) MACD - Above or below 0, on any time frame
4) Momentum - Above or below 100
5) Bollinger Bands - Wicks above or below bands on any Time Frame
6) ADR (daily time frame must be selected) - Will only show signals if the ADR has been exceeded for the day

Watch the tutorial video now to learn all the new features and MY FAVORITE FILTER which I think has real potential.

Inserted Video


Attached File(s)
File Type: ex4 OGT RSI MTF Indicator v1.2.ex4   29 KB | 818 downloads
Never stop investing. Never stop improving. Never stop doing something new
  • #117
  • Sep 8, 2020 9:32am Sep 8, 2020 9:32am
This is a great indicator you've built. I've found a possible idea for a strategy but as I was going back in time through the charts, I encountered a bug that shows arrows all over the screen, I'm not sure if anyone else has found the same thing.
Attached Image (click to enlarge)
Click to Enlarge Name: Bug.PNG Size: 53 KB
  • #118
  • Sep 13, 2020 5:08am Sep 13, 2020 5:08am
Hey Team

I want to share a new video of my NEW UPDATED SETTINGS for the OGT RSI MTF EA.

Traditionally I trade this indicator using lower time frames. I was curious on how the EA performed on higher time frames and to my surprise it performed very well on backtests.

I share in the video a backtest of the EURUSD 2020 year to date (Jan to Sept).

I will be running the new settings from tonight on my 'Growing a £500 Journal' for the next few weeks and will keep you updated.

Inserted Video


Attached File(s)
File Type: zip RSI MTF EA v1.1 Package.zip   77 KB | 845 downloads
Never stop investing. Never stop improving. Never stop doing something new
  • #119
  • Sep 13, 2020 5:10am Sep 13, 2020 5:10am
Quoting bensharpe
This is a great indicator you've built. I've found a possible idea for a strategy but as I was going back in time through the charts, I encountered a bug that shows arrows all over the screen, I'm not sure if anyone else has found the same thing. {image}
Hi Ben - Just select a different time frame and go back to the original one and will fix the arrows
Never stop investing. Never stop improving. Never stop doing something new
  • #120
  • Sep 13, 2020 11:44am Sep 13, 2020 11:44am
Thanks zoheb for your update.
Just to get it right: With you new settings your ea is "nothing more" a simple RSI ea?!
I'm a friend of your strategy on watching the RSI on multiple timeframes, trying to optimize it with looking for the long-term-trend and ema-indicators. I can't believe that this "RSI on H1 timeframe only"-strategy will work on long term...
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