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RSI 50 X Scalping System

  • #21
  • Mar 6, 2023 6:00am Mar 6, 2023 6:00am
Quoting totomagic
{quote} that there's no repaint because I have my indicator set so that GAPS are off meaning rsi's go flat during bars in between time frames. let me show you an example of what it looks like on M1 during live market.

You are wrong. Any candle can repaint. It cant repaint only after its close. The proof that candles can repaint untill its close are wicks oposite to candle direction (down wick for up candle and up wick for down candle).
  • #22
  • Mar 6, 2023 6:15am Mar 6, 2023 6:15am
Quoting totomagic
{quote} I am not too familiar with MT4, as I exclusively use Trading View to chart and trade on through forex.com. Try this MTF RSI and see if it's better. Maybe someone else can help too. {file}
Could you post the Pine Script for the MTF RSI?
Good Trading
  • #23
  • Mar 6, 2023 6:21am Mar 6, 2023 6:21am
aud,
Thanks and helped an old man today...
cpfleger
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 281 KB
  • #24
  • Mar 6, 2023 6:25am Mar 6, 2023 6:25am
Quoting cpfleger
aud, Thanks and helped an old man today... cpfleger {image}
Kindly share your template :0 My knowledge about this mt4 technical things is so poor.
Jakepuia
  • #25
  • Mar 6, 2023 6:36am Mar 6, 2023 6:36am
Jakepuia,
Download all Indicators and paste into Indicator folder.
Download the Template and paste into Template. folder.
Turn off MT4 and turn back on to allow the platform to configure all files - this is an old Platform and off and on is the best assurance of configuring the files.
Open a 15M Chart and add Template.
NOTE: The MTF RSI Indicator is set to M15 with M30 and 1HR RSI Blue and White Lines - do not change TF as the RSI Indicator will not function correctly. If you want to use a different TF, you must change the RSI Settings.
cpfleger
Attached File(s)
File Type: ex4 0 - Chart Symbol.ex4   9 KB | 569 downloads
File Type: ex4 Advanced MTF RSI.ex4   36 KB | 693 downloads
File Type: ex4 Pip Counter (Andrea).ex4   20 KB | 548 downloads
File Type: ex4 pipsometer_5_decimal.ex4   15 KB | 545 downloads
File Type: ex4 zigzagm.ex4   32 KB | 553 downloads
File Type: tpl Advanced RSI 2 TF's.tpl   91 KB | 608 downloads
  • #26
  • Mar 6, 2023 6:42am Mar 6, 2023 6:42am
Quoting cpfleger
Jakepuia, Download all Indicators and paste into Indicator folder. Download the Template and paste into Template. folder. Turn off MT4 and turn back on to allow the platform to configure all files - this is an old Platform and off and on is the best assurance of configuring the files. Open a 15M Chart and add Template. NOTE: The MTF RSI Indicator is set to M15 with M30 and 1HR RSI Blue and White Lines - do not change TF as the RSI Indicator will not function correctly. If you want to use a different TF, you must change the RSI Settings. cpfleger...
Thank you so much, I will do it right away
Jakepuia
  • #27
  • Mar 6, 2023 6:42am Mar 6, 2023 6:42am
Jakepuia,
Corrected Template with pipometer Indicator.
cpfleger
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 268 KB
Attached File(s)
File Type: tpl Advanced RSI 2 TF's.tpl   93 KB | 478 downloads
  • #28
  • Mar 6, 2023 6:44am Mar 6, 2023 6:44am
My chart at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 15 KB
Jakepuia
  • #29
  • Mar 6, 2023 6:52am Mar 6, 2023 6:52am
Jakepuia,
Nothing like my Template, re-read the download instructions.
cpfleger
  • #30
  • Mar 6, 2023 7:03am Mar 6, 2023 7:03am
Testing and testing...
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 301 KB
  • #31
  • Mar 6, 2023 7:03am Mar 6, 2023 7:03am
Quoting cpfleger
Jakepuia, Nothing like my Template, re-read the download instructions. cpfleger
That is the one I used before I installed your template ...
Here is the one you give me..
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 15 KB
Jakepuia
  • #32
  • Mar 6, 2023 7:07am Mar 6, 2023 7:07am
Jakepuira,
Correct my man.
cpfleger
  • #33
  • Mar 6, 2023 7:08am Mar 6, 2023 7:08am
Testing and testing..
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 281 KB
  • #34
  • Mar 6, 2023 7:28am Mar 6, 2023 7:28am
Getting close...
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 293 KB
  • #35
  • Mar 6, 2023 7:46am Mar 6, 2023 7:46am
Since we are using M1 chart, I think, we have to use on pair with low spread. And we must not be greedy, we have to be very happy with 5 pips or so and then exit. Find another opportunity and so on
Jakepuia
  • #36
  • Mar 6, 2023 7:48am Mar 6, 2023 7:48am
Jakepuia,
Its okay to test other TF's, if you want to use 1M TF, then you need to adjust the Indicator TF Settings to 5 and 15M TF.
cpfleger
  • #37
  • Mar 6, 2023 7:55am Mar 6, 2023 7:55am
One more test
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 12 KB
Jakepuia
  • #38
  • Mar 6, 2023 7:59am Mar 6, 2023 7:59am
Out with -3 pips New signal already came in the opposite direction
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 12 KB
Jakepuia
  • #39
  • Mar 6, 2023 8:11am Mar 6, 2023 8:11am
@Jakepuia,

You are using the RSI 5 and 15 setting on the M1. That is different than the OP explains.

5 Candles on the M1, is not the same as a 5 minute candle. Same for 15/M15 setting.

You should use a MTF indicator, or look at the M5/M15 chart to see if the RSI is above/below the 50 level.

If you use a 5 period setting, you get the RSI value of the last 5 1 minute bars (which is different than the 5 minute candle RSI value).
  • #40
  • Mar 6, 2023 9:54am Mar 6, 2023 9:54am
Choices....
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 318 KB
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