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1H Trend

  • #41
  • Edited 11:22pm Feb 7, 2009 11:02pm | Edited 11:22pm
Quoting fxxx
could be good idea 2 set rsi levels on MArsi equally (from 50): 40/60 or 55/45 , 49/51 or 50/50 so it won't be "one-sided" (set 4 uptrend but not 4 range and downtrend)
pict: just playing to see what marsi does under different settings and conditons(testdrive)
Thanks, good point and i see what you mean, the 50 is normally used as the ½ way between oversold(80) and overbought(20). The developer had his template set at 40,50.

I will change mine to 45, 55 and see.

Edit: I see I made a big mistake, the 40 is the period and the 50 is the level. So the line changes color according to the crossing the 50 level line.
  • #42
  • Feb 7, 2009 11:05pm Feb 7, 2009 11:05pm
Quoting amin wakileh
hi ,
my macd with one line. please advise how can i make it 2 line

regards,
which macd are you using? also check you colour settings, maybe it is the same as the chart background.
  • #43
  • Feb 7, 2009 11:34pm Feb 7, 2009 11:34pm
Quoting Jnita
ma rsi - this is the line between the 80 ema high and 80 ema low, the ma rsi when set to 80, 1, 0, 40, 50 - shows as a 80 ema close, but it changes color according to where the rsi would be, above 50 or below 40
The highlighted in red above is incorrect and I appologise.

The 40 is the period setting for the RSI and the 50 is the level, so when the RSI crosses 50, the line changes color to BLUE for >50 and RED for <50.
  • #44
  • Feb 7, 2009 11:43pm Feb 7, 2009 11:43pm
Quoting Jnita
which macd are you using? also check you colour settings, maybe it is the same as the chart background.

u r right, thanx
  • #45
  • Edited Feb 8, 2009 2:48am Feb 7, 2009 11:53pm | Edited Feb 8, 2009 2:48am
Just a suggestion...

Just let it be plain and simple. You don't have to modify anything with this method. Risk/reward are very good since it kept our trade with a very tight SL. If you lost a trade don't change the method just ensure that you get better risk/reward in your trading profiles.
  • #46
  • Feb 8, 2009 2:51am Feb 8, 2009 2:51am
I just wonder if this thing works on the daily TF. From the past data it looks promising. I can't use 1 hr TF so often due to my work schedule.
  • #47
  • Feb 8, 2009 4:14am Feb 8, 2009 4:14am
Quoting spmaon
Just a suggestion...

Just let it be plain and simple. You don't have to modify anything with this method. Risk/reward are very good since it kept our trade with a very tight SL. If you lost a trade don't change the method just ensure that you get better risk/reward in your trading profiles.


Been with an eye on this thread for some time, and it seems a pretty simple (which is excellent!) and reliable method. I completely agree with spmaon... meybe our best efforts to "optmize" something that is already good would crash the whole thing... I know it happens with good will, but we tend to try always "over-filtering" a method, cause we still can't easily diggest our losses. Its natural.

Keep the good job!

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #48
  • Feb 8, 2009 4:34am Feb 8, 2009 4:34am
Quoting HouseTrader


Been with an eye on this thread for some time, and it seems a pretty simple (which is excellent!) and reliable method. I completely agree with spmaon... meybe our best efforts to "optmize" something that is already good would crash the whole thing... I know it happens with good will, but we tend to try always "over-filtering" a method, cause we still can't easily diggest our losses. Its natural.

Keep the good job!

Cheers!

HT
That is exactly what i meant. Over filtering will only complicated our trading. In my view this method almost complete. If we could devise our SL and TP in a more systematic without changing or adding the method that would be the best.
  • #49
  • Feb 8, 2009 4:50am Feb 8, 2009 4:50am
Quoting spmaon
I just wonder if this thing works on the daily TF. From the past data it looks promising. I can't use 1 hr TF so often due to my work schedule.
Why don't you simulate it. If you don't have the simulator, let me know, and I'll attach it.
  • #50
  • Feb 8, 2009 5:11am Feb 8, 2009 5:11am
Quoting spmaon
That is exactly what i meant. Over filtering will only complicated our trading. In my view this method almost complete. If we could devise our SL and TP in a more systematic without changing or adding the method that would be the best.
What SL would you suggest? I have thought to use the 80ema low for a long and the high for a short.... any other ideas?
  • #51
  • Feb 8, 2009 5:34am Feb 8, 2009 5:34am
Quoting Jnita
What SL would you suggest? I have thought to use the 80ema low for a long and the high for a short.... any other ideas?
I don't trade this system yet but i can see that using the 80 ema high/low may not be a bad idea. I'd suggest that we go the simplest way which is the most recent support/resistance. I can see that sometime price tend to retest the ema, so having your SL a bit higher/lower is also another way of doing it.

I want to use this technique for an exit. I kind of like the MACD setting. I use Chaos Wiseman 3 as my entry right now.
  • #52
  • Feb 8, 2009 5:41am Feb 8, 2009 5:41am
Quoting Jnita
Why don't you simulate it. If you don't have the simulator, let me know, and I'll attach it.
I don't really need it but just post it some else might need it. I'm trading the daily...we can see it is obvious that any ma style can make money...
  • #53
  • Feb 8, 2009 6:15am Feb 8, 2009 6:15am
Quoting spmaon
I don't really need it but just post it some else might need it. I'm trading the daily...we can see it is obvious that any ma style can make money...
Simulator attached.

I found this simulator on the THV thread and if I can remember correctly he said one of his friends wrote it, so it is thanks to their generosity. It is like "homework", and can be tedious .... great for weekend testing and training.

The THV thread can be found here:
http://www.forexfactory.com/showthread.php?t=127271
Attached File(s)
File Type: zip Trading simulator.zip   491 KB | 512 downloads
  • #54
  • Feb 8, 2009 8:18am Feb 8, 2009 8:18am
Quoting Jnita
What SL would you suggest? I have thought to use the 80ema low for a long and the high for a short.... any other ideas?

Since the 80EMA is a kind of "line in the sand" for this method (above the channel >> long and vice-versa) I guess that would be a interesting zone to put the stop-loss. As the trade develops, whatever TF you trade, you could also trail your SL on it. Of course, If a contrary MACD sign appears, maybe it's time to collect the pips. Last bounce is also a classic SL zone...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #55
  • Feb 8, 2009 9:29am Feb 8, 2009 9:29am
Quoting HouseTrader
Since the 80EMA is a kind of "line in the sand" for this method (above the channel >> long and vice-versa) I guess that would be a interesting zone to put the stop-loss. As the trade develops, whatever TF you trade, you could also trail your SL on it. Of course, If a contrary MACD sign appears, maybe it's time to collect the pips. Last bounce is also a classic SL zone...

Cheers!

HT
good idea.

last bounce - do you mean last support in long trade? resistance for short?
  • #56
  • Feb 8, 2009 11:35am Feb 8, 2009 11:35am
Quoting Jnita
Simulator attached.

I found this simulator on the THV thread and if I can remember correctly he said one of his friends wrote it, so it is thanks to their generosity. It is like "homework", and can be tedious .... great for weekend testing and training.

The THV thread can be found here:
http://www.forexfactory.com/showthread.php?t=127271
also info here
http://www.forexfactory.com/showpost...postcount=1373
  • #57
  • Edited 1:05pm Feb 8, 2009 12:51pm | Edited 1:05pm
Quoting HouseTrader

Been with an eye on this thread for some time, and it seems a pretty simple (which is excellent!) and reliable method. I completely agree with spmaon... meybe our best efforts to "optimize" something that is already good would crash the whole thing... I know it happens with good will, but we tend to try always "over-filtering" a method, cause we still can't easily diggest our losses. Its natural.
Keep the good job!
Cheers!
HT
There is virtually impossible to filter all fakes and optimise future
I agree - what all systems do, and all you need - is a minimum to establish what we consider as up and/or down move and stick to definition

Not like people going to trade system without price itself, plotting support and resistance lines, trendlines, knowing where pivot levels, divergence , etc; and this is always a major consideration
(unless you're Woodie and "no need no stinky prices")

After extreme scalping settings this macd - 38,120,20 - amazingly - fast and precise, does very good job filtering noise (may by that's why it does it's "magic": ); and also it gives plenty of room to any of your favorite or new indis if you want something sharp 4 tactical decisions, divers, etc
  • #58
  • Feb 8, 2009 1:53pm Feb 8, 2009 1:53pm
Modified the indicator so that you can put different buy level and sell level. Default is 50, but you can set the buy level to 55 and the sell level to 45.
Attached File(s)
File Type: mq4 MA rsi.mq4   3 KB | 439 downloads
  • #59
  • Feb 8, 2009 2:12pm Feb 8, 2009 2:12pm
Quoting Jnita
good idea.

last bounce - do you mean last support in long trade? resistance for short?

Kind of.... if we think in short therm, wich zone is the last support, for a long (or rsistence, for a short)? It's the last bounce of the price. Of course, there are in higher TFs the stronger S/R zones that e must be aware of, but if we are looking for long, a conservative approach is to put the SL some pips below last low bounce (and vice-versa for shorts)... In this method, maybe this zone is located on the other side of the "fence" (80EMA), but it's a more conservative SL, classical too... gves some more air to the trade (if you adjust your lotsize properly)... But I'll take a shot at demo using the 80EMA "fence"

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #60
  • Feb 8, 2009 8:03pm Feb 8, 2009 8:03pm
3 ma rsi, - Jnita, culd you change attach. in post1? 'cas looks like you gonna have a lot : )))) - though the more - the merrier
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