DislikedIf the cross on the emas has happened but the cross on the rsi has not and then 2 to 3 candles latter the cross on rsi happens or vis versa, is the trade still a go?
Im reading that when using 10min 15 min or 30 min charts with this strat that direction is important. How is direction determend? If Im using a 10 min chart is direction going to be the last 10 candles, 25 candles, 100 candles ?
Thanks for the helpIgnored
Hi Osirisisis
You may see differing views on your Q's. To your first Q re the time difference between the 5/12 & RSI crossovers I trade these situations. However if there is a long time between the crosses ie say 4/5 bars or more then i'm very careful because something is lacking momentum.
Direction is important, ie you obviously want to be trading with the current direction. However the current direction now may differ from previous. Right now at 6.42am(UK time) on GU I'm looking at a down bar forming, previously the market has risen steadily. If this bar ends with a cross of 5/12 and RSI then for me that is a signal. So direction now is more important to me than direction yesterday.
rgds, strada.