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Bagovino Method

  • #1,321
  • Dec 11, 2006 11:40am Dec 11, 2006 11:40am
Bagovino


Are we using the original 5, 12 ema and the 21 rsi method which you originally stated to use and if so could you check this chart and see if its correct. Thanks

I would have bought at close of first candle after the 5 12 cross and the cross of rsi to >50
Attached Image
  • #1,322
  • Dec 11, 2006 2:28pm Dec 11, 2006 2:28pm
hello i want to thank u all for this nice method, its an easy and it sounds good through my testing, wish all the best, but i want to ask
is there a time limit to exit the trade?
i mean if u entered a trade do u wait for an 30 min or an hour.......etc, and then exit, or u leave it to the stop loss and take profit orders?

keep up the good work
  • #1,323
  • Dec 11, 2006 3:57pm Dec 11, 2006 3:57pm
Forexdanofsa,

Looks like you nailed that entry. It would have made you atleast 40 pips because you'd still be in the trade since the RSI is still above 50.

Momadmax,

There's a few ways to determine how long to stay in a trade. Some people are entering with 3 lots and taking profits at each new fib line (Vegas Template), while moving the SL accordingly. Some stay in until the RSI crosses the 50 against your trend. Some go for "X" amount of pips. A good way to start is with 2 positions... Take 1st profit at whatever you feel comfortable and let the second position ride until the RSI crosses back.

Hope this helps!

Bagovino
"Skills pay the bill's!"
  • #1,324
  • Dec 11, 2006 4:03pm Dec 11, 2006 4:03pm
Bagovino


thanks bro, u r a great help for us,thats just what i want to know

keep up the good work
  • #1,325
  • Dec 11, 2006 4:04pm Dec 11, 2006 4:04pm
Bagovino,

Really appreciate your input and your time for this system

Forexdan
  • #1,326
  • Dec 16, 2006 12:56pm Dec 16, 2006 12:56pm
How is everyone doing? Any comments?
"Skills pay the bill's!"
  • #1,327
  • Dec 17, 2006 7:43am Dec 17, 2006 7:43am
I keep getting an error when i apply this EA

"setindexbufferfunction must be called from cutom indicator only"

any guideance?

thanks
  • #1,328
  • Dec 17, 2006 8:18am Dec 17, 2006 8:18am
Quoting auditt05
Today I used Bagovino on the USD JPY and sold at 115.40 and got s/l at 115.70 and i hit s/l, i also got a Long GBP from 9770 when the two EMAs just crossed and RSI was over 50 and s/l was at 9745 and i got hit also!!!

Can you please tell me if this is just a normal loss in the system or did i missuse it? Thanks a lot.
I picked up the thread again on page 86 & came across your trades... I looked at them, & I don't think you used the 4H filter... This will keep you out of most bad trades.

Also, it looks like you got in the very end of the a big, 900 pip bull run from 11-17 to 12-4... If you played all the long trade setups from that run, hitting a loss at the end of the trend would have more than OK.
  • #1,329
  • Dec 17, 2006 8:22am Dec 17, 2006 8:22am
Quoting bagovino
I want to keep the indicator on the 1hr chart, but instead of daily RSI 14, I wanted it to be based on the 4hr RSI 14.

Bago
Good call on the 4H chart!

In a range bound market, it would be hard to get the setup on the day chart... From what I can tell, the 4H filter will put you in more good trades, & still protect you from the same losses that the 1D filter gives us.
  • #1,330
  • Dec 17, 2006 8:36am Dec 17, 2006 8:36am
Quoting Zeuzere
Here we go... little teaser :-)
iBagovino <- 66k 3826x897
Huge image ratio but you can see a lot more.

By the way, it does not work better on the 15 minutes, you see the same result as the 1 hour but you get you entry sooner ( 4bars of 15minutes vs 1 bar hourly)

I did draw a few support(blue) and resistance(red) to show my method with bogavino method. White circle is where i would have take position not all but a few of them...Also you can see divergence on the MoneyFlow Index(Yellow)...

enjoy!
Excellent!

I like the setup; hope I can get it to work....
  • #1,331
  • Dec 17, 2006 12:48pm Dec 17, 2006 12:48pm
Is the filter you guys talking about the RSI 14 on the 4hr? That is an excellent filter! Yes, taking trades only in the direction of the 4 hr will greatly improve your win/loss ratio.
You can even use the daily as well as the 4 hr. So if the daily is long and the 4 hr shifts from short to long, then long trades have even a higher probability of profit as they are in accordance with 2 higher time frames. Go with the trend! Vice-versa for shorts.

I'm right now developing a way to scalp on the 15 min charts based on some principles of this system. It's not a pure "Scalp" as you may be in a trade anywhere from 15min to a couple of hours depending on the strength of the move. I'm using multiple indicators right now but am working on narrowing them down for simplicity.
So far the accuracy has been amazing. I want to develop a system with low risks, minimum drawdown and a high probability of winning trades. Going for only 15 to 20 pips per session. So 30 to 40 per day consistantly.

I'll keep you updated on it's progression.
Bagovino
"Skills pay the bill's!"
  • #1,332
  • Dec 17, 2006 12:57pm Dec 17, 2006 12:57pm
Here is an indicator that shows you the RSI on timeframes greater that what you are viewing.
Example.. On 15m you can see the 1hrRSI BUT you can not use 15m RSI on 1hr as calculations will be incorrect, but not by much

Indicatortimeframe>currenttimeframe
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   4 KB | 528 downloads
  • #1,333
  • Dec 17, 2006 1:56pm Dec 17, 2006 1:56pm
Quoting C.E.O.
Here is an indicator that shows you the RSI on timeframes greater that what you are viewing.
Quoting C.E.O.
Example.. On 15m you can see the 1hrRSI BUT you can not use 15m RSI on 1hr as calculations will be incorrect, but not by much

Indicatortimeframe>currenttimeframe
Thanks you! The excellent indicator. For a long time searched similar. Thanks.
  • #1,334
  • Dec 17, 2006 7:45pm Dec 17, 2006 7:45pm
CEO,

That is what I'm talking about. Can you develop an indicator to be used on the 15min chart, but shows the RSI on the 1hr, 4hr and 1 day? That is what I'm trying to accomplish. An indicator that shows where the 1hr, 4hr and daily are from the 15 min. When they all line up we take a trade.


Thanks,

Bago
"Skills pay the bill's!"
  • #1,335
  • Dec 17, 2006 9:39pm Dec 17, 2006 9:39pm
Quoting bagovino
CEO,

That is what I'm talking about. Can you develop an indicator to be used on the 15min chart, but shows the RSI on the 1hr, 4hr and 1 day? That is what I'm trying to accomplish. An indicator that shows where the 1hr, 4hr and daily are from the 15 min. When they all line up we take a trade.


Thanks,

Bago
Bago,

This is modified from another indicator. See if it fits your need.


Matsu
Attached File(s)
File Type: mq4 4 TF RSIBar.mq4   9 KB | 719 downloads
  • #1,336
  • Dec 17, 2006 9:44pm Dec 17, 2006 9:44pm
Well im no indicator maker, just a code hack. It is easy to do with this but takes a little time.

Open up the indicator and set it to timeframe=0 That is always current time.
Drag multiple more indicators into window and set accordingly.
As you drag them in use the visualizations tab to allow it to only be seen in greater timeframes.
For example 30mRSI uncheck 15,5,1m boxes.

I will attach a screen of mine for RSI and CCI

On my RSI I have a 1hr and 1d=reds
Greens are an 8,11,14 RSI for current timeframe
Purple is rapidRSI

I Like RSI's
Attached Image
  • #1,337
  • Dec 17, 2006 9:54pm Dec 17, 2006 9:54pm
Hi Bagovino , These indi will help ...Cheeers
Attached Image
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   4 KB | 526 downloads
File Type: mq4 #MTF_MovingAverage.mq4   4 KB | 551 downloads
  • #1,338
  • Edited 12:30pm Dec 18, 2006 11:17am | Edited 12:30pm
Quoting GreatYves
Sorry! No! I missed this one??? What is it( the 4H filter)?


The 4H filter is the 5/12 crossover & a 14 -RSI... Only trade the 1H chart with the 4H trend... Myself, I want a 55+ 14-RSI on the 4H chart for L trades, & a 45- 14-RSI on the 4H chart for S trades.


Also, I do want to bring up how you're losing money in "a consolidation period"... Well, just don't trade the consolidation period. When a pair breaks out of the consolidation zone, start looking for trades again.... The 55/45 RSI can help here.

Really, there aren't too many plans that'll work in a consolidation period... Pivot trading is the best I've seen for that condition.
  • #1,339
  • Dec 18, 2006 1:26pm Dec 18, 2006 1:26pm
Attached image of RMI 21 and RSI 21 - note how RSI crosses & recrosses 50 line, 3 times each way throughout this choppy period while the RMI makes only 1 attempt but does not actually cross, thereby (hopefully) keeping the wary trader out of this pip no-go.

The 4 hour RSI as a filter also seems to be rather effective.
Attached Image
Understanding is a three-edged sword
  • #1,340
  • Dec 18, 2006 10:41pm Dec 18, 2006 10:41pm
Thatch,

What is RMI? Can you post indicator for further testing?

Yhanks,

Bago
"Skills pay the bill's!"
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