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Bagovino Method

  • #2,441
  • Jun 19, 2007 2:43pm Jun 19, 2007 2:43pm
Please tell me which time frame is best....I've seen mentioned everything from 10 min-60 min. Are 2 rsi's being used? If so, How does one overlay the 5 over the 21...I use metatrader. Also, Do you sell when it crosses the 70 into the trade zone? I appreciate everyone's help....thank you....Susan
  • #2,442
  • Jun 19, 2007 3:18pm Jun 19, 2007 3:18pm
Barcode:

try UseEMAangle
Change to false
Glenn
  • #2,443
  • Jun 19, 2007 3:27pm Jun 19, 2007 3:27pm
Susan/ Osirisisis:
When the RSI five breaks the 70% line: buy
When the RSI five breaks the 30% liine: sell

I tried the EA on the ten min. window. It did not much like it, it seems.
The thirty min. may be the sweet-spot window.

Glenn
  • #2,444
  • Jun 19, 2007 3:32pm Jun 19, 2007 3:32pm
Hi Glenn and All fellow traders-What time zone are you in? How do you get that clock at the top of your chart? Would you please explain how you use the RSI 5? May I ask what pairs you trade using this method? I understand how to use the 5EMA and the 8SMA cross...but need to learn the RSI.Thanks so much, in advance, for your guidance. Susan
  • #2,445
  • Jun 19, 2007 3:38pm Jun 19, 2007 3:38pm
Hi Glenn...Thanks for the info. What does one do when the RSI 5 is between 30 and 70? Is the answer nothing? For example, at 1:36 pm PST on the EUR/USD chart (30 min tf) the RSI 5 is 84.66. Would I buy here or is it too late as I should have bought at 70? Thanks again....Susan
  • #2,446
  • Jun 19, 2007 3:42pm Jun 19, 2007 3:42pm
Hi Bagovino-When you mention "55 Linear weighted to close-duplicate of "clean line" what do you exactly mean? Do you mean a 55 EMA? Would this be used for swing trading? Thanks for all you do....Susan
  • #2,447
  • Jun 19, 2007 6:02pm Jun 19, 2007 6:02pm
Que,

Thanks much for the new Bulleye. I really find this a super-helpful indicator.
  • #2,448
  • Jun 19, 2007 6:57pm Jun 19, 2007 6:57pm
Quoting grant_thms
No I didnt enter there because I only enter when I have a cross of the emas and a cross of rsi with good volume confirming the cross and on that one we had a cross with the emas with good volume but rsi crossed a couple hours before so there was a no entry for me on that one.......
Hi,

What do you consider a good volume to justify a trade?
  • #2,449
  • Jun 19, 2007 9:54pm Jun 19, 2007 9:54pm
Susan:
Please look on pages 160 and 161 for an explanation of my thinking on the RSI Five. You will find some screenshots that show how the RSI Five corrrelates with the usual bago indicators. My favorite currency pairs are the GBP/Dollar; GBP/Yen; Euro/Yen. I am using a bunch of others, too, just for fun. The robot makes it easy to load your plate with lots of them. Yes, the idea is to abstain from trading until the RSI breaks the 70 or the 30 level. Probably the ideal exit is when the RSI Five crosses the 50% line, but the EA that I am using does not offer this feature, off the shelf. Exiting the trade on the cross of the 8 simple/ 5 exponential lines is an option with this EA (robot), so I am using that, and it is pretty good, I think. Overall, the idea is to automate the trading. It is still a work in progress, since the idea has not been fully tested and confirmed. There are hopeful signs, but the cake is not yet baked. The round clock you see is a widget from Yahoo. It will superimpose on whatever screen is up at the time.
I am in Montana, hiding out from George Bush and his gang. That puts me in the Mountain Time Zone. Go get 'em, Susan.
Glenn
  • #2,450
  • Jun 19, 2007 10:02pm Jun 19, 2007 10:02pm
Hi Glenn-Thanks for the info...I will demo it and see how I do. Montana sounds so rustic and wonderful...enjoy!! Susan
  • #2,451
  • Jun 19, 2007 10:22pm Jun 19, 2007 10:22pm
Quoting winsteadglenn
Susan:
Please look on pages 160 and 161 for an explanation of my thinking on the RSI Five. You will find some screenshots that show how the RSI Five corrrelates with the usual bago indicators. My favorite currency pairs are the GBP/Dollar; GBP/Yen; Euro/Yen. I am using a bunch of others, too, just for fun. The robot makes it easy to load your plate with lots of them. Yes, the idea is to abstain from trading until the RSI breaks the 70 or the 30 level. Probably the ideal exit is when the RSI Five crosses the 50% line, but the EA that I am using does not offer this feature, off the shelf. Exiting the trade on the cross of the 8 simple/ 5 exponential lines is an option with this EA (robot), so I am using that, and it is pretty good, I think. Overall, the idea is to automate the trading. It is still a work in progress, since the idea has not been fully tested and confirmed. There are hopeful signs, but the cake is not yet baked. The round clock you see is a widget from Yahoo. It will superimpose on whatever screen is up at the time.
I am in Montana, hiding out from George Bush and his gang. That puts me in the Mountain Time Zone. Go get 'em, Susan.
Glenn
Glen..is it necessary to wait for the MA cross on the same direction with RSI 5 cross 70/30, or just enter when RSI cross and we just use MA as an exit?

How do you determine to re-entry the market?

Thanks,
Sangkil
  • #2,452
  • Jun 20, 2007 5:37am Jun 20, 2007 5:37am
Hi all

As Glenn's adaptations have been highlighted on the last few pages, I have shown the trades as given by my broker for today

£/$ - 30' TF, 8sma/5ema, RSI 5, buy +70% - sell -30%

00:00 - sell 1.9870, close on 5 RSI cross of 50% - 1.9881 = -11
05:00 - sell 1.9871, close on 5 RSI cross of 50% - 1.9879 = - 8
07:30 - buy 1.9881, close on 5 RSI cross of 50% - 1.9874 = - 7
10:00 - buy 1.9896, running...

I stated earlier on this thread I decided to use MACD as a filter for the 10' TF, and if used on the 30' TF would have cancelled out the first 2 trades which were against the MACD trend

Also using Bago's original cross of MA's as a stop would have kept the 07:30 trade running, but that would have meant trading through the news at 09:30

I also cannot get volume from my source and have been told that forex volume is not to be relied upon?

So for me, the ideal entry and stops haven't been found yet...although there was talk earlier on of 2 ema's set at 18 and 28, using them to further filter trades when they are not close or pinching. I think a differential of +2 on them may be a way of staying out of fakes, so with the benefit of everyone's input???

Cheers Gwaihir
  • #2,453
  • Jun 20, 2007 6:51am Jun 20, 2007 6:51am
Bago, long time no speak. I've been busy trading Vantage Point.

What's this Bullseye indicator you posted a couple of pages back, can you explain how it works ? Thanks
The quality of your life is brought about by the quality of your thinking.
  • #2,454
  • Jun 20, 2007 8:05am Jun 20, 2007 8:05am
Sangkil:
The robot is set to depend upon the 8simple/5exponential cross, first; then the cross of the RSI five, in that order. So, entry would occur after the 8/5 and at the time of RSI five cross; exit simply at the very next counter 8/5 cross.
I am trying the one hour window, now. I am using a trailing stop. I also disabled the "decrease factor" in the EA code, by changing the number from one to zero.
Good pound/yen profit over-night. Glenn
  • #2,455
  • Jun 20, 2007 10:33am Jun 20, 2007 10:33am
Cable closed on cross over at 16:00 - 1.9925
  • #2,456
  • Jun 20, 2007 12:37pm Jun 20, 2007 12:37pm
Quoting joiedevivre
Hi Bagovino-When you mention "55 Linear weighted to close-duplicate of "clean line" what do you exactly mean? Do you mean a 55 EMA? Would this be used for swing trading? Thanks for all you do....Susan
Susan,

A member posted something called a "Clean Line" indicator in an earlier post. Basically saying it took 5 years or something like that to create and program. He said it works on GBP currencies only, on the 1 hr chart. When the 5/12 EMA's cross this "magical" clean line the move is good for 100's of pips.

Well it took me about 5 seconds to duplicate this wonder indicator. All it is was a 55 (MA) set to Linear Weighted and close... So it's not a simple or exponential MA, It's linear weighted.

Anyway, it does seem to work well on the 1hr chart. If price is above this wonderline you only take long signals. When it's below you take shorts.



B.
"Skills pay the bill's!"
  • #2,457
  • Jun 20, 2007 12:42pm Jun 20, 2007 12:42pm
Quoting hornet
Bago, long time no speak. I've been busy trading Vantage Point.

What's this Bullseye indicator you posted a couple of pages back, can you explain how it works ? Thanks
Hi Hornet,

How is Vantage Point working out for you?

I didnt post the bullseye indicator, and haven't used it yet. Sorry, but I can't answer your question.

B.
"Skills pay the bill's!"
  • #2,458
  • Jun 20, 2007 12:46pm Jun 20, 2007 12:46pm
Que:

As you know from my previous screenshots, I use the bullseye indiator. I like it. Very clever. I changed the colors to Aqua and Red, since I use a dark background. Thank you.

Glenn
  • #2,459
  • Edited 2:09pm Jun 20, 2007 1:50pm | Edited 2:09pm
All greetings! I am sorry but to mine you not absolutely correctly treat signals RSI 5. Achievement of levels 30 or 70 signals about an exhaustion of an impulse and it is obvious, and such "the confidential indicator" as Stochastic only confirms it. In this sheaf I also use these indicators. Well and it is final МА.(18-28)
DONT PANIC!!!
  • #2,460
  • Jun 20, 2007 2:14pm Jun 20, 2007 2:14pm
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