totomagic thanks for sharing the idea and TV script. Look forward to testing this one out.
{quote} Your patterns posted are all historical, then the highest TF candle closed. When entering the order, the signal in the higher time frames has not yet closed. Is it accurate. Are you entering the order in any way? You wait for the biggest TF to close and refresh to see the signal, or just have the signal at M1 to enter right away
I'm amazed about how people think that a historical MTF chart is the same as the realtime MTF chart. It can work, but you do will have extra fals signals when the higher TF candle(s) haven't closed yet. It still can work out though, but one must know that there will be more false signals/trades.
{quote} Correct, using M1 is not to enter before (it would be another option, but I prefer to try with a closed signal for now). I use M1 because it allows me to better see the price in detail for scalping, and I also like how the indicator is printed better, it's more binary, up-down, without curves.
I have seen that using M1 will give us the final crossover 15 candles later, not when it is marked on the chart in hindsight.
The same before 15 min:
It is not updated from the marked point until the next 15 min, so in retrospect it is only seen when the crossing has already occurred, but with a 15-min delay, not when it is changing live.
The same before 15 min:
It is not updated from the marked point until the next 15 min, so in retrospect it is only seen when the crossing has already occurred, but with a 15-min delay, not when it is changing live.
- #136
- Mar 9, 2023 11:38am Mar 9, 2023 11:38am
I'm not able to put the code in my tradingview, someone who could attach the code in a notepad, please?
{quote} / This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ //cbryce23 //@version=5 indicator(title="RSI MTF Dashboard", shorttitle = "RSI MTF Dashboard", overlay=true) //========== Tickers useT1 = input(true,"", inline = "1", group="Tickers") t1 = input.symbol("CAPITALCOM:US500","", inline = "1", group="Tickers") useT2 = input(true,"", inline = "2", group="Tickers") t2 = input.symbol("CAPITALCOM:US30" , "", inline = "2", group="Tickers") useT3 = input(true,"", inline...
{quote} I have it so that it updates automatically at any period. The backtest will not help you, because the false crosses that have occurred live cannot be seen, the cross is confirmed and set 15 candles after it occurred on M1.
I’ve posted live setups and I’ll continue to do so. I trade with this live today and had no problems with TFs or repainting or anything so let me clarify.
I can only speak on the TV indicator I use, but it sounds similar to the MT4.
Within an hour there’s only a few times a 15 minute candle on one pair can print(12:00, 12:15, 1230, 1245, 1 etc) and thus… there’s only a few times an hour on one pair the 15M Rsi can cross the 50.
The time in between these few times doesn’t matter. What matters is that when the 15M rsi does cross(during one of these periods), the 5M crosses too. If they both cross then you’ll get a real signal in real time that is not repainting
For the rest of time when you look back at that specific cross, it should be the same…that’s how it works on TV. Once a cross happens one of those few times i mentioned before(12:15 or 12:30 etc) are printed it’s there forever until the next 15M period prints.
Let me highlight exactly what my chart looks like during a trade in the live market
8:44
8:45 - THE 15M RSI NOW WILL NOW MOVE..AND IT CREATED A CROSS
8:46 THE MINUTE AFTER...SIGNAL REMAINS THE SAME
8:47-9:00 ...AT 9:00 the the HIGHER TF RSI will move again...if it crosses this is when we would enter again..any movement between 8:46-9:59 doesnt matter..because entries are only based around the HIGHEST tf cross...
for people who can't get the TradingView indicator to look like mine or get it running follow these steps. You only need a FREE account with tradingview.
For the MTF RSI Look for this indicator on TradingView..
Change the Settings to this..
For the Scanner Look for this indicator on TradingView
Change settings to this..
it's recommeneded to svae an entire layout of a bunch of scanners for every pair, or add 1 or two more to your charts
For the MTF RSI Look for this indicator on TradingView..
Change the Settings to this..
For the Scanner Look for this indicator on TradingView
Change settings to this..
it's recommeneded to svae an entire layout of a bunch of scanners for every pair, or add 1 or two more to your charts