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RSI 50 X Scalping System

  • #101
  • Mar 8, 2023 10:24am Mar 8, 2023 10:24am
By the time 15 min TF closes, 1 min scalping can be a very detrimental to your account.

I guess Tradingview solved that issue by registering the level of 5/15 min RSI, based on closing of lower TF - 1 min.
  • #102
  • Edited 11:02am Mar 8, 2023 10:34am | Edited 11:02am
Quoting 8tango
{quote} This indicator repaint the last 3 or 4 bars.
What it does is change the color of the block until the candles of the period that it has marked are closed, so it would not be necessary to pay attention to it until the candle closes 5 or 15 in M5 and M15 and it is fixed.
testing it.
  • #103
  • Mar 8, 2023 12:43pm Mar 8, 2023 12:43pm
What about this version of RSI?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
Attached File(s)
File Type: mq4 eXclusive_MTF_RSI.mq4   11 KB | 461 downloads
  • #104
  • Mar 8, 2023 6:14pm Mar 8, 2023 6:14pm
Quoting HitTheBid
{quote} Appreciate your suggestion. Unfortunately, It updates dynamically so negates totomagic's initial system idea.
no problem, however, i still do not understand the issue that "It updates dynamically"

here is 1H and 4H RSI on 1M chart, it remains flat for one hour and 4 hours respectively, the values remain static on the current M1 candle until each respective RSI starts a new bar and the new values are reflected on the 1M chart...

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 1 KB


am i still missing something?
every minute matters!
  • #105
  • Mar 8, 2023 6:44pm Mar 8, 2023 6:44pm
Quoting TheJube
{quote} I agree. Like you have 2 options: You either wait till the M5+M15 bar crossed AND closed the 50 level. Then i don't see any additional value to having this system open on a M1 chart (because you are always waiting for M5 and M15 to close, autorefresh doesnt help with this, autorefresh helps with refreshing the current chart bar, M1 in this case). The MTF problem still exists with this option. Option 2 is that you enter on a current open M5+M15 bar that is still forming, but is crossing the 50 level, did not close yet above/below it, but...
I second this
  • #106
  • Mar 8, 2023 6:58pm Mar 8, 2023 6:58pm
Quoting webglobe
hello Traders, did someone catch something today with this strategy ?
busy but took a couple scalps today

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
  • #107
  • Mar 8, 2023 6:59pm Mar 8, 2023 6:59pm
Quoting niks
{quote} no problem, however, i still do not understand the issue that "It updates dynamically" here is 1H and 4H RSI on 1M chart, it remains flat for one hour and 4 hours respectively, the values remain static on the current M1 candle until each respective RSI starts a new bar and the new values are reflected on the 1M chart... {image} am i still missing something?
this is how it works for me, no problem. I just take trades on the 15M interval...
  • #108
  • Mar 8, 2023 7:29pm Mar 8, 2023 7:29pm
Quoting totomagic
{quote} this is how it works for me, no problem. I just take trades on the 15M interval...
Lets just summarize for people who will not read this thread from the beginning(feeling generous today )

MT5 - 2 RSI repaints - bad idea to trade this technique,
Tradingview does not repaint - good idea for this technique
  • #109
  • Mar 8, 2023 7:37pm Mar 8, 2023 7:37pm
Quoting driven18
{quote} Lets just summarize for people who will not read this thread from the beginning(feeling generous today ) MT5 - 2 RSI repaints - bad idea to trade this technique, Tradingview does not repaint - good idea for this technique
please show example of your problem in MT5 with 2 HTF RSI's on 1M chart, i still do not understand...
every minute matters!
  • #110
  • Mar 8, 2023 7:41pm Mar 8, 2023 7:41pm
Quoting totomagic
{quote} this is how it works for me, no problem. I just take trades on the 15M interval...
that's great and how i understand it works as well, trades can only be opened in intervals of the highest timeframe, looks like an interesting idea you have raised!
every minute matters!
  • #111
  • Mar 8, 2023 7:45pm Mar 8, 2023 7:45pm
Quoting niks
{quote} please show example of your problem in MT5 with 2 HTF RSI's on 1M chart, i still do not understand...
I already spelled out for you or read from the beginning - think about trading 1 min TF, based on 5/15 TF RSI break through 50 and did not close yet.
  • #112
  • Mar 8, 2023 7:50pm Mar 8, 2023 7:50pm
Quoting TheJube
{quote} I agree. Like you have 2 options: You either wait till the M5+M15 bar crossed AND closed the 50 level. Then i don't see any additional value to having this system open on a M1 chart (because you are always waiting for M5 and M15 to close, autorefresh doesnt help with this, autorefresh helps with refreshing the current chart bar, M1 in this case). The MTF problem still exists with this option. Option 2 is that you enter on a current open M5+M15 bar that is still forming, but is crossing the 50 level, did not close yet above/below it, but...
Read this again as this answers any questions. If you want to enter before your HIGHEST TF RSI finishes youll have to refresh and take a riskier trade. This way also repaints as you look back i believe

however I don't trade like this. 15M is my highest TF RSI so my trades always take place on 15M intervals (when my highest RSI prints its cross)

there's value of being on the 1 minute chart because im scalping less than 10 pips usually and my quick position is based around smaller time frame market structure
  • #113
  • Mar 8, 2023 7:53pm Mar 8, 2023 7:53pm
Quoting driven18
{quote} I already spelled out for you or read from the beginning - think about trading 1 min TF, based on 5/15 TF RSI break through 50 and did not close yet.
please show an example of what you are talking about

it is the indicator you are using that is the problem i think,
but i don't know unless you show what it is you are talking about

MQL5 vs Pinescript, MQL5 can do it
every minute matters!
  • #114
  • Mar 8, 2023 7:58pm Mar 8, 2023 7:58pm
Quoting niks
{quote} please show an example of what you are talking about it is the indicator you are using that is the problem i think, but i don't know unless you show what it is you are talking about MQL5 vs Pinescript, MQL5 can do it
That is correct, indicator that I use will not register intermidiate levels of 5/15 RSI when 1 Min TF closes. Show me indicator in MT5 that will do that.

Common sense - RSI bars of higher TFs, 5 min and 15 min can go under 50 when they close, but they broke and stayed above 50 line when you traded with 1 min.
  • #115
  • Mar 8, 2023 8:08pm Mar 8, 2023 8:08pm
Quoting driven18
{quote} That is correct, indicator that I use will not register intermidiate levels of 5/15 RSI when 1 Min TF closes. Show me indicator in MT5 that will do that. Common sense - RSI bars of higher TFs, 5 min and 15 min can go under 50 when they close, but they broke and stayed above 50 line when you traded with 1 min.
This.....
  • #116
  • Mar 8, 2023 8:10pm Mar 8, 2023 8:10pm
Quoting driven18
{quote} That is correct, indicator that I use will not register intermidiate levels of 5/15 RSI when 1 Min TF closes. Show me indicator in MT5 that will do that. Common sense - RSI bars of higher TFs, 5 min and 15 min can go under 50 when they close, but they broke and stayed above 50 line when you traded with 1 min.
i think wires are crossed, the idea is to only trade on the highest timeframe interval, anything in between which is what i think your talking about is irrelevant to this system, and without picture i have no idea what you are talking about
every minute matters!
  • #117
  • Mar 8, 2023 8:46pm Mar 8, 2023 8:46pm
current signal on USDCHF...

notice how its 21:45...an increment of my highest tf
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 31 KB
  • #118
  • Mar 8, 2023 8:52pm Mar 8, 2023 8:52pm
Quoting niks
{quote} i think wires are crossed, the idea is to only trade on the highest timeframe interval, anything in between which is what i think your talking about is irrelevant to this system, and without picture i have no idea what you are talking about
Wrong..read the thread.
  • #119
  • Mar 8, 2023 9:10pm Mar 8, 2023 9:10pm
Quoting totomagic
{quote} busy but took a couple scalps today {image}
Took the same trade & it was a good catch 👽👍
Regret is Brutal
  • #120
  • Mar 8, 2023 9:40pm Mar 8, 2023 9:40pm
Quoting driven18
{quote} Wrong..read the thread.
wrong about what? you are very light on details, i cannot read your mind...

which post in this thread in particular should i read?

the one just above your reply which highlights how the system works?
https://www.forexfactory.com/thread/...2#post14353192

or this one?
https://www.forexfactory.com/thread/...9#post14348279

or this one?
https://www.forexfactory.com/thread/...9#post14353159
every minute matters!
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