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Trend Cycle Entry

  • #21
  • Jan 26, 2022 9:52am Jan 26, 2022 9:52am
Nice strategy. Could someone post a .mq4 file for StochasticRSi please?
  • #22
  • Jan 26, 2022 9:53am Jan 26, 2022 9:53am
Attached is a Stochrsi that you can use
Attached File(s)
File Type: mq4 stochastic of rsi alerts.mq4   7 KB | 1,675 downloads
  • #23
  • Jan 26, 2022 10:44am Jan 26, 2022 10:44am
I have attached an example of a GBPUSD trade, as I interpret the instructions. If you take a pair and backtest it visually you will see how it works. A lot of times the piercing of the BB edge will come during a narrowing of the bands (Asian session) setting up the move in the direction of the trend for the London session. Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: WDGBPUSD.png Size: 274 KB
  • #24
  • Edited 11:12am Jan 26, 2022 10:58am | Edited 11:12am
Quoting THA58
A Buy setup ? {image}
That's a good looking set-up. Wait for a green candle to close, then enter on the open of the next.

Important note:

Today the U.S. Fed releases it's minutes from their most recent meeting. There will be a press conference as well. Regardless of how perfect the set-up looks, I avoid these events and if the market settles down afterward, and conditions are still intact, then I will continue with my trade, but only if the direction is still in favor of the original set-up.
  • #25
  • Jan 26, 2022 11:00am Jan 26, 2022 11:00am
Quoting pakeha
I have attached an example of a GBPUSD trade, as I interpret the instructions. If you take a pair and backtest it visually you will see how it works. A lot of times the piercing of the BB edge will come during a narrowing of the bands (Asian session) setting up the move in the direction of the trend for the London session. Hope this helps. {image}
Beautiful. A "textbook" trade executed flawlessly.

As you become accustomed to the process, you may decide that BB intersection is not always necessary. Intersection with the 50 is also a strong set-up but not quite as reliable. I don't support "adjusting" the rules until you really have a feel for it.

Well done!
  • #26
  • Jan 26, 2022 11:03am Jan 26, 2022 11:03am
Quoting Vicente
Hello Could someone who is analyzing this strategy share with me the template for MT4. I can't get the RSI to work, it's never above/below 80/20 {image}
The Stochastic and the RSI are not exclusive of each other in my method. There is an indicator that combines the parameters of both in a single process. It is the StochasticRSI. It should be readily available on most platforms.

Pakeha posted an MT4 version in Post 22 above. (Thanks Pakeha)
  • #27
  • Edited 3:39pm Jan 26, 2022 2:41pm | Edited 3:39pm
MT4 Indicator built for this system.

+ Alerts (Not tested yet)

It does not depend on external indicators.

Use discretion regarding MAs separation



Will update indy soon, bugs found




Updated



New fixes


Attached File(s)
File Type: ex4 Trend Cycle Entry.ex4   42 KB | 1,521 downloads
  • #28
  • Jan 26, 2022 3:05pm Jan 26, 2022 3:05pm
Quoting sick35
MT4 Indicator built for this system. + Alerts (Not tested yet) It does not depend on external indicators. Use discretion regarding MAs separation {file} Will update indy soon, bugs found Updated
That's what we needed, thank you!
Anything above the line is an uptrend, below the line is a downtrend.
  • #29
  • Jan 26, 2022 4:55pm Jan 26, 2022 4:55pm
Quoting AltosTrader
There are not many pairs that RSI will break 20 /80. on Daily. Currently, AJ shows a past break - haven't looked further yet. However, WD is not showing the RSI at all so ??? Let's wait and see what his response is. Looks like a very easy relaxed trade method though - I am about to look for a BB break alert etc.
Nothing to do with this system, but I must disagree.

RSI breaking 20 / 80 will depend on the settings.

Try 7 as shown, you might be amazed.



Attached Image (click to enlarge)
Click to Enlarge Name: 2022-01-27_8-51-33.jpg Size: 362 KB
It takes a lot for me to IGNORE you, but you can try.
  • #30
  • Jan 26, 2022 4:56pm Jan 26, 2022 4:56pm
Quoting WickedDaddy
{quote} That's a good looking set-up. Wait for a green candle to close, then enter on the open of the next. Important note: Today the U.S. Fed releases it's minutes from their most recent meeting. There will be a press conference as well. Regardless of how perfect the set-up looks, I avoid these events and if the market settles down afterward, and conditions are still intact, then I will continue with my trade, but only if the direction is still in favor of the original set-up.

ok....Thank you
  • #31
  • Jan 26, 2022 5:59pm Jan 26, 2022 5:59pm
Quoting yczzd
1) Indicators About 50 moving average mode, is it EMA, SMA, or others?
SMA: See picture

Quoting yczzd
Stochasticrsi indicator, is it a special indicator or a standard indicator?
Standard. See my original post for settings.

Quoting yczzd
2) Rules Price must intersect the BB -- does the highest and lowest price of a candle intersect the boundary of BB? Or the opening price or the closing price? Price must disengage from the BB -- it means that after the previous candle intersects, the next candle reversely separates from the boundary of BB?
The HA candles must intersect the BB. It doesn't matter what part of the candle does this. Multiple candles will remain connected to the BB until they begin to pull away. Then you are looking for the color change on a closed candle.

Quoting yczzd
Separation maintained by 15 EMA and 50 MA -- is there a quantitative standard for the distance between two moving averages?
No. But the greater the separation, the stronger the trade success probability.

Quoting yczzd
Candles must change from green to red / red to green-- meaning intersecting candles and disengaging candles color change?
See picture

Attached Image
  • #32
  • Jan 26, 2022 6:20pm Jan 26, 2022 6:20pm
[quote=Erebus;13872790]{quote} Nothing to do with this system, but I must disagree. RSI breaking 20 / 80 will depend on the settings. Try 7 as shown, you might be amazed. {image}[/quote

We were referring a 13 RSI as per stated settings for this system - not any other.
  • #33
  • Jan 26, 2022 7:08pm Jan 26, 2022 7:08pm
Quoting WickedDaddy
{quote} SMA: See picture {quote} Standard. See my original post for settings. {quote} The HA candles must intersect the BB. It doesn't matter what part of the candle does this. Multiple candles will remain connected to the BB until they begin to pull away. Then you are looking for the color change on a closed candle. {quote} No. But the greater the separation, the stronger the trade success probability. {quote} See picture {image}
Thank you very much for your reply
Quite clear. I think I got it.
Thank you, WickedDaddy。
  • #34
  • Jan 26, 2022 11:34pm Jan 26, 2022 11:34pm
My entry for today....
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily entry.png Size: 37 KB
  • #35
  • Jan 26, 2022 11:46pm Jan 26, 2022 11:46pm
WickedDaddy

Would you negate this sell entry (EURGBP) since its at support...appreciate your views.


TIA
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily Support.png Size: 192 KB
  • #36
  • Jan 27, 2022 12:40am Jan 27, 2022 12:40am
Quoting THA58
WickedDaddy Would you negate this sell entry (EURGBP) since its at support...appreciate your views. TIA {image}
you should buy instead of selling
  • #37
  • Jan 27, 2022 1:12am Jan 27, 2022 1:12am
[quote=AltosTrader;13872843]
Quoting Erebus
{quote} Nothing to do with this system, but I must disagree. RSI breaking 20 / 80 will depend on the settings. Try 7 as shown, you might be amazed. {image}[/quote We were referring a 13 RSI as per stated settings for this system - not any other.
Well, if you want to be picky about it, have another read of Post #1

Specifically the part where he mentions to use Stochastic-RSI

And especially study the chart; look at how it oscillates between 20 and 80 constantly.

It was you that first mentioned RSI, so I shared a good setting for that indicator with you.

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #38
  • Jan 27, 2022 3:03am Jan 27, 2022 3:03am
Quoting havenoidea
{quote} you should buy instead of selling
  • #39
  • Jan 27, 2022 12:33pm Jan 27, 2022 12:33pm
First entry after reading through the thread.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf-h4-fxtm-2.png Size: 74 KB
  • #40
  • Edited 2:06pm Jan 27, 2022 1:50pm | Edited 2:06pm
Quoting THA58
WickedDaddy Would you negate this sell entry (EURGBP) since its at support...appreciate your views. TIA {image}
NO. But I would watch it closely. If you entered at .83500, there would be approximately 20 pips of profit in that trade right now (current price .83284 when I wrote this)

I don't know about you but 20 pips of profit is enough for me on a daily basis. Not counting my long term holds, my daily, intraday goal is 10 pips. For me, that is a comfortable living. But all things considered, that is a small trade.

I think at this point, I may think about putting a break even stop behind it and see where it goes. Worst case, it bounces and you've lost nothing. That said, I like profits so in all honesty, I would probably close it and enjoy the rest of my day doing anything other than trading.
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