Twin RSI - simple trading strategy | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

10 pips a day can make you rich quickly 244 replies

Simple RSI & EMA high Profitable ratio Strategy 98 replies

How much do you want to make and why do you want to make it 17 replies

A Proven Simple Strategy (2MAs, 1 RSI) 436 replies

Simple RSI Strategy & EA 1 reply

Attachments: Twin RSI - simple trading strategy
Exit Attachments

Twin RSI - simple trading strategy

  • #61
  • Feb 4, 2023 3:57am Feb 4, 2023 3:57am
Quoting Lim001
Try this strategy using the same concept on a highly volatile pair GBPNZD Modify the rules slightly Buy 1) slow-rsi lies in between 45 and 55 range 2) fast-rsi opens above 55 and penetrates through 55 and 45 in one bar 3) open a buy order at end of the bar 4) TP based on i) fast-rsi closes > 45 and < 55 ii) fast-rsi crosses the slow-rsi from below iii) fast-rsi closes above 55 iv) fixed TP triggered at trader's preference. 5) SL based on i) slow-rsi dips below 45 ii) fixed SL triggered {image} Will appreciate if anyone can code an ea based on the...
@Lim001

You cannot coded a rules-based discretionary trading into an EA.

But there are many trade manager EAs which can help you manage your SL and TPs after you execute the buy/sell market order.

By the way, I notice your slow-RSI(14) has been changed to RSI(7).

There is this Double RSI strategy here:
https://forex-strategies-revealed.com/simple/double-rsi
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #62
  • Feb 4, 2023 5:39am Feb 4, 2023 5:39am
Quoting kd1
{quote} Hey Lim, i can try to code this into EA, just clarified what does it mean when you said " A down bar closes in between RSI_55 & 75", you mean to say a bearish candle when fast rsi is between 75-55 ?
When the slow-rsi is between 55 & 75, we assume the market is in an uptrend.
We buy at end of a bearish bar means we try to buy at a swing low, hoping the market will resume its up run.
We do not want to take the buy if the fast-rsi dips below the SL level, it could be a sign that the uptrend is ending.
Thanks for your interest.
Lim
  • #63
  • Edited Feb 5, 2023 4:52am Feb 4, 2023 6:13am | Edited Feb 5, 2023 4:52am
Quoting Lim001
Two more trading strategies are available based on the same chart Buy only strategy slow-rsi setting period:14, level 55/75, close fast-rsi setting: period: 2, level 15, close Rules 1) a down bar closes in between rsi 55 & 75 2) the fast-rsi cross the slow-rsi from above 3) open a buy order at beginning of next bar 4) TP at close of a bar when fast-rsi crosses the slow-rsi from below 5) stop loss at end of a forward bar when i) fast-rsi dips below 15 or ii) slow-rsi dips below 55 or iii) pre-set stop triggered {image} Sell only strategy slow-rsi...
Sell only :

1) an up bar closes in between rsi 25 & 45...[/quote]

What is an up bar closes betwen RSI 45 & 25?

==============
New traders can explain it better thant you

This is how i would put it:
Sell only :

#1 Wait for 1 or more red price bars . RSI 14 must fall and closes below 45 level after 1 or more red price bars are closes
# 2 Wait or 1 or more green price bars. RSI 2 must move up and above rsi 14 after 1 or more green price bars.
=========================
Lim001 Can you post any real trade example?
ONLY AN IDIOT ASK FOR 2 YEARS EXPERIENCE TO TRADE ANY SYSTEM
  • #64
  • Feb 4, 2023 9:03am Feb 4, 2023 9:03am
Thought I could contribute something here.
Pair GbpJpy.
Time Frame H4.

Buy = price above 20 sma + RSI 2 hit 15 level. Stop is lower 20 sma. tp is open. at list 1 to 3 RR.
Sell = price below 20 sma + RSI 2 hit 85 level. stop is super 20 sma. tp is open at list 1 to 3 RR.

I don't test with Algo so I don't know what will be the overall results.
I have seen it work around 50% in GJ H4 Chart. ( very small sample below)

( Paloduro you can Backtest it. if your comfortable with the win rate you may try it too.)

Hope it will help
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 41 KB
MA provides the market's current direction and strength.
  • #65
  • Feb 4, 2023 9:06am Feb 4, 2023 9:06am
Quoting emmanuel7788
{quote} @Lim001 You cannot coded a rules-based discretionary trading into an EA. But there are many trade manager EAs which can help you manage your SL and TPs after you execute the buy/sell market order. By the way, I notice your slow-RSI(14) has been changed to RSI(7). There is this Double RSI strategy here: https://forex-strategies-revealed.com/simple/double-rsi
Please don't spam with 1000s of posts here. For that, you have TMS thread already. If you open trade with any of these systems you can share live trade here.
Hope you understand.
Thanks, Best of luck
MA provides the market's current direction and strength.
  • #66
  • Feb 4, 2023 9:18am Feb 4, 2023 9:18am
In H1 GJ chart, the Read line is not traded because the price crosses and closes above 20 sma.

Hope all understand what I tried to share.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 21 KB
MA provides the market's current direction and strength.
  • #67
  • Feb 4, 2023 8:55pm Feb 4, 2023 8:55pm
Quoting hasib
{quote} Please don't spam with 1000s of posts here. For that, you have TMS thread already. If you open trade with any of these systems you can share live trade here. Hope you understand. Thanks, Best of luck
hey @hasib

I can promise your there wont be 1000s post here because I wont be opening any trades with this RSI thingy for sure.

You already have 30 threads in FF, what happen to your own latest thread " Strategy for 2023" . Its only Feb 05 ... too early to see real results.

I am already settled down with eelfranz' Trading Made Simple for 12 years and will continue on to make money.

You need to settle down and trade only the winning system that makes money consistently.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #68
  • Feb 4, 2023 8:57pm Feb 4, 2023 8:57pm
Quoting Lim001
{quote} When the slow-rsi is between 55 & 75, we assume the market is in an uptrend. We buy at end of a bearish bar means we try to buy at a swing low, hoping the market will resume its up run. We do not want to take the buy if the fast-rsi dips below the SL level, it could be a sign that the uptrend is ending. Thanks for your interest. Lim


Your rules are few and simple enough for a disciplined trader to follow.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #69
  • Feb 4, 2023 11:31pm Feb 4, 2023 11:31pm
Avoid trading before and after a high impact news on the currency pair that you intend to trade for this strategy
  • #70
  • Feb 5, 2023 9:06pm Feb 5, 2023 9:06pm
reasons to apply
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #71
  • Feb 6, 2023 4:05am Feb 6, 2023 4:05am
Quoting Inthebox
reasons to apply {image}
Hi InTheBox,

Happy New Year of Rabbit and wish you another good year in trading. I am back from vacations and Chinese New Year and started working and trading again. With the world getting used to COVID, it is free to travel again so my job is to go on business trips that have been pending since the pandemic. Probably will be in Singapore sometime this year.

Thanks for reaching out. I will see what I can do. I would stick with Trading Made Simple method for trading but can check this out a bit.

Trade well.
  • #72
  • Feb 6, 2023 4:12am Feb 6, 2023 4:12am
Quoting Lim001
Try this strategy using the same concept on a highly volatile pair GBPNZD Modify the rules slightly Buy 1) slow-rsi lies in between 45 and 55 range 2) fast-rsi opens above 55 and penetrates through 55 and 45 in one bar 3) open a buy order at end of the bar 4) TP based on i) fast-rsi closes > 45 and < 55 ii) fast-rsi crosses the slow-rsi from below iii) fast-rsi closes above 55 iv) fixed TP triggered at trader's preference. 5) SL based on i) slow-rsi dips below 45 ii) fixed SL triggered {image} Will appreciate if anyone can code an ea based on the...
Hi Lim001,

Thanks for sharing your method. I have coded the your entry rules on TradingView. A bit rusty in MQL4 for EA and indicator coding as TV is more friendly to custom indicators (MQL4 has runtime calculation issue with custom indicator functions).

Trade well.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 53 KB
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 55 KB
  • #73
  • Feb 6, 2023 4:18am Feb 6, 2023 4:18am
Quoting hasib
{quote} Please don't spam with 1000s of posts here. For that, you have TMS thread already. If you open trade with any of these systems you can share live trade here. Hope you understand. Thanks, Best of luck
Don't let your trading journey be retarded by the retarded.
They will tell you something can't be done because they can't make it. Loser mindset.

Trade well

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 239 KB
  • #74
  • Feb 6, 2023 5:49am Feb 6, 2023 5:49am
Quoting tommydoginti
{quote} Don't let your trading journey be retarded by the retarded. They will tell you something can't be done because they can't make it. Loser mindset. Trade well {image}
Sad, but true.
To free Gazans of Hamas, use whatever it takes.
  • #75
  • Feb 6, 2023 6:16am Feb 6, 2023 6:16am
...
Quoting tommydoginti
{quote} Don't let your trading journey be retarded by the retarded. They will tell you something can't be done because they can't make it. Loser mindset. Trade well {image}
@tommydog...

this is @Lim001 thread and we should be focus on trading discussions and on @Lim001' Twin RSI method.

please Do Not contaminate this trading discussion thread with your toxic posts just that you want to attention so badly.

your post is evident of your 2 years prolonged jealousy, anger and hatred ... these are your emotional disabilities which retards you learning ability to trading made simple.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76
  • Feb 6, 2023 6:23am Feb 6, 2023 6:23am
Quoting Lim001
{quote} You ca set your own preference 70/30 is more conservative, lesser trades higher winning rates. Need not mean higher total profits because average profits will be smaller. 85/15 has higher risks with higher returns
@Lim001

You mention "85/15 has higher risks with higher return"

I recall from my previous years RSI study, a well know trader taught the use of level 20 to 80.
The RSI(14) between 40 and 80 would be indication of a Uptrend and between 60 to 20 would be Downtrend.

RSI(2) is good.

What is your experience so far?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #77
  • Feb 6, 2023 8:01am Feb 6, 2023 8:01am
tommydoginti,
emmanuel7788
Please don't make it a fighting ground.
If you don't trade RSI please don't post your copy-paste RSI Trading Ideas.
Use your Brain, please

If you trade this system you are welcome to post and share your trade ideas here.
Thanks, hope you understand
Take Love from me
MA provides the market's current direction and strength.
  • #78
  • Feb 6, 2023 8:59am Feb 6, 2023 8:59am
Greetings to all traders.
Let me share some of my thoughts on my own trading experience.
All indicators have their strengths and weaknesses. I would say each indicator is 60% reliable, the remaining 40% will wreck your accounts.
If you bundle about 5 or more of the similar category of indicators together, you will be able to form better judgements on the market current condition and its likely next movements. To be able to do this one has to analyse thousands of charts comprising the same set of indicators. Understanding in dept how they behave under different market conditions, how they contradict each other or complementing each other. What are the reliable setups and what are false signals. These are trading skills which cannot be learnt/thought in the classroom like learning how to swim. Trading is an art and not a science with fixed and fast rules. Discretionary judgements are accumulated over years of painstaking hard works. (Only Practice can make Perfect.
Inserted Video
) Trading systems, indicators or ea's are merely trading tools. They must be handled in a correct manner together with the proper trading skills, then they will generate consistent real money. Remember, a best tool can also ruin a job if it is handled in a wrong way. Accept the hard fact that taking losses is part of the trading job.
For example: If one can tell at one glance at the chart/candle pattern and say with confident that "the market is currently in its middle stage of a weak uptrend" then he will configure his ea to trade under this type of market condition taking only buy order and small profits. Or, the market is currently in a beginning stage of a strong down trend, then he would devise another set of strategy to sell and let the profits run.
Sadly to say, a lot of traders don't come to the market with proper mindsets. Thinking that spending some money to buy some indicators, ea's or attend a few seminars can make them rich. If that is true, there won't be any poor people around. So they hop from one system to the other forever searching for a holy grail, only to find at the end both their time and money are wasted.
Hope this helps.
Lim
  • #79
  • Feb 6, 2023 9:06am Feb 6, 2023 9:06am
Quoting Lim001
Greetings to all traders. Let me share some of my thoughts on my own trading experience. All indicators have their strengths and weaknesses. I would say each indicator is 60% reliable, the remaining 40% will wreck your accounts. If you bundle about 5 or more of the similar category of indicators together, you will be able to form better judgements on the market current condition and its likely next movements. To be able to do this one has to analyse thousands of charts comprising the same set of indicators. Understanding in dept how they behave...
100% Agree.
MA provides the market's current direction and strength.
  • #80
  • Feb 6, 2023 9:21am Feb 6, 2023 9:21am
Quoting hasib
tommydoginti, emmanuel7788 Please don't make it a fighting ground. If you don't trade RSI please don't post your copy-paste RSI Trading Ideas. Use your Brain, please If you trade this system you are welcome to post and share your trade ideas here. Thanks, hope you understand Take Love from me
I agree.

I am in this thread because I was invited to check out this strategy. And Lim001 suggested the method on GBPNZD with a possibility to code into EA.

the entry rules are fixed and can be coded into EA and indicator in no time.

Only losers will come to a thread yelling a method doesn’t work. Only someone who cannot code would say the simple and mechanical set of rules cannot be coded.

trade well.
0 traders viewing now