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Attachments: my RSI trade strategy (using ea) 2020
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my RSI trade strategy (using ea) 2020

  • #1
  • First Post: Edited Jun 17, 2020 9:35pm Jun 11, 2020 1:04pm | Edited Jun 17, 2020 9:35pm
TF = D1 (patiently)
RSI default setting
Buy basically when rsi bellow 30
Sell basically when rsi above 70
(i believe plenty of traders using this setup)

lets see if this strategy is profitable

will try to update daily or whenever setup is available

1 of ea to be used, using rsi instead of macd in the original version

Attached File(s)
File Type: mq4 10p3v1.9e 5D rsi M1111.mq4   20 KB | 2,408 downloads | Uploaded Jun 17, 2020 9:34pm


Attached Image (click to enlarge)
Click to Enlarge Name: 20612 rsi trades.png Size: 95 KB
LUCKY golden trades, LUCKY gold investor trading style
  • #2
  • Jun 12, 2020 4:03am Jun 12, 2020 4:03am
all earlier position closed with profit. New setup found today

Attached Image (click to enlarge)
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LUCKY golden trades, LUCKY gold investor trading style
  • #3
  • Jun 13, 2020 4:31pm Jun 13, 2020 4:31pm
Hi fx4money,

I believe you need more details than this to make a complete system. For example, do you enter with a stop order at the open, above the close, above the high, or with a limit order below the close of the signal bar? and where is the stop-loss and will you use a price target or a trailing stop-loss?

Also, simple systems like this are easy to backtest manually, so it would save a lot of time if you moved your charts back to an earlier date and tested your system while moving the chart forward one candle at a time...

Best of luck to you.
Swing trader for over 10 years
  • #4
  • Jun 14, 2020 4:50am Jun 14, 2020 4:50am
closed positions before market closed

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  • #5
  • Jun 16, 2020 2:34am Jun 16, 2020 2:34am
current posts

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LUCKY golden trades, LUCKY gold investor trading style
  • #6
  • Jun 16, 2020 4:17am Jun 16, 2020 4:17am
Quoting Empiric1
Hi fx4money, I believe you need more details than this to make a complete system. For example, do you enter with a stop order at the open, above the close, above the high, or with a limit order below the close of the signal bar? and where is the stop-loss and will you use a price target or a trailing stop-loss? Also, simple systems like this are easy to backtest manually, so it would save a lot of time if you moved your charts back to an earlier date and tested your system while moving the chart forward one candle at a time... Best of luck to you....
for selling, 1st entry is when RSI at d1 reached 70, the next will be after h1 candle close, and so on. 1 use averaging for take profit.
LUCKY golden trades, LUCKY gold investor trading style
  • #7
  • Jun 16, 2020 10:26am Jun 16, 2020 10:26am
positions closed today

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  • #8
  • Jun 16, 2020 12:21pm Jun 16, 2020 12:21pm
Looks interesting, thx a lot for sharing. Will test over the next couple days and report back :-)
  • #9
  • Jun 16, 2020 10:24pm Jun 16, 2020 10:24pm
current open trades. can't find any pair with rsi above 70 or bellow 30, decided to use rsi 60 for the moment

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LUCKY golden trades, LUCKY gold investor trading style
  • #10
  • Jun 17, 2020 9:32pm Jun 17, 2020 9:32pm
current and closed trades

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  • #11
  • Jun 18, 2020 5:14am Jun 18, 2020 5:14am
Hi FX 4 Money how are you? Does your daily strategy working with RSI 60? Do you think it could be a good idea to insert stop loss on fibonacci daily line or on Hichimoku Tekan ?
Thanks for your kind support and for sharing this nice strategy
  • #12
  • Jun 18, 2020 9:47am Jun 18, 2020 9:47am
Quoting broncoviz
Hi FX 4 Money how are you? Does your daily strategy working with RSI 60? Do you think it could be a good idea to insert stop loss on fibonacci daily line or on Hichimoku Tekan ? Thanks for your kind support and for sharing this nice strategy
Hi Broncoviz,

I am fine, thanks. Whenever there is no pair with rsi value above 70 or bellow 30, I will use this strategy for rsi value above 60 or bellow 40. Don't use this strategy on pair gbp due to its very wide range. Another option is also to check on weekly rsi value if it is also in the same range to be safer.

my stop loss is about 500pips because i am using averaging with at least 50pip steps.

I would suggest you to use the highest or lowest price for the week to determine your stop loss.
LUCKY golden trades, LUCKY gold investor trading style
  • #13
  • Jun 18, 2020 9:55am Jun 18, 2020 9:55am
audcad will be the best pair at this moment to sell, rsi weekly value still above 60, 0.9443 was weekly highest value, not so far away from current price 0.93xx
LUCKY golden trades, LUCKY gold investor trading style
  • #14
  • Jun 18, 2020 10:53am Jun 18, 2020 10:53am
Ok thanks, I'll try.
I'm looking to find the best strategy low effort high results.
TDI not working, resign
Bb / Ema works very well but it is required an high level of attention,
Ichimoku is nice but it's not always easy to find the correct stop loss , so you are supposed to monitor.
  • #15
  • Jun 18, 2020 11:26am Jun 18, 2020 11:26am
Quoting broncoviz
Ok thanks, I'll try. I'm looking to find the best strategy low effort high results. TDI not working, resign Bb / Ema works very well but it is required an high level of attention, Ichimoku is nice but it's not always easy to find the correct stop loss , so you are supposed to monitor.
this strategy is way simpler than most methods but the profits are not as fantastic, but it is fair for me
LUCKY golden trades, LUCKY gold investor trading style
  • #16
  • Jun 18, 2020 6:02pm Jun 18, 2020 6:02pm
@fx4money


I hope you are well.

Have a few questions what pairs are currently running with the EA.

Are you using exact settings as per ex4 file you sent. If not could you share your set file setup you are using.

Thanks
  • #17
  • Jun 18, 2020 9:18pm Jun 18, 2020 9:18pm
Quoting Heknoid
@fx4money I hope you are well. Have a few questions what pairs are currently running with the EA. Are you using exact settings as per ex4 file you sent. If not could you share your set file setup you are using. Thanks
Hi Heknoid,

yes mostly, the setting is for 5decimal brokers.

few things you need change:

InitialStop = 10.0; change to 100
TrailingStop = 150; change to 1500
Multiplier1 = 2.0; change to 1.5
Multiplier2 = 1.5;
rsiBuy = 30; can change to 40 if no available pair with rsi D1 at bellow 30 ( for buying)
rsiSell = 70; can change t0 60 if no available pair with rsi D1 at above 70 (for selling)

Please remember to set long only or short only once you have determined which pair to use it on based on rsi D1 value.

Good luck
LUCKY golden trades, LUCKY gold investor trading style
  • #18
  • Jun 18, 2020 9:25pm Jun 18, 2020 9:25pm
closed trades yesterday and still opened trades. pair gbpaud with most float, that's why not very recommended to use this strategy on gbp pair unless we have good margin

Attached Image (click to enlarge)
Click to Enlarge Name: 20619 rsi trades.png Size: 39 KB
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  • #19
  • Jun 18, 2020 9:47pm Jun 18, 2020 9:47pm
Quoting fx4money
{quote} Hi Heknoid, yes mostly, the setting is for 5decimal brokers. few things you need change: InitialStop = 10.0; change to 100 TrailingStop = 150; change to 1500 Multiplier1 = 2.0; change to 1.5 Multiplier2 = 1.5; rsiBuy = 30; can change to 40 if no available pair with rsi D1 at bellow 30 ( for buying) rsiSell = 70; can change t0 60 if no available pair with rsi D1 at above 70 (for selling) Please remember to set long only or short only once you have determined which pair to use it on based on rsi D1 value. Good luck ...
@fx4money

I appreciate the information will let you know how I go.

Thanks
  • #20
  • Jun 20, 2020 1:31am Jun 20, 2020 1:31am
error corrected in the ea

Attached File(s)
File Type: mq4 10p3v1.9e 5D rsi M1111 0620.mq4   20 KB | 1,676 downloads


Attached File(s)
File Type: ex4 10p3v1.9e 5D rsi M1111 0620.ex4   19 KB | 1,018 downloads
LUCKY golden trades, LUCKY gold investor trading style
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