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RSI & CCI system

  • #61
  • May 13, 2009 11:56pm May 13, 2009 11:56pm
And while you're bored waiting for the perfect sync of the two indies, try Hoff's approach of selling at OS/OB levels. Using the RSI(8) indie, sell at the 80 level and buy at 20. Of course, know your trend first, and avoid periods of blatant consolidation as breakouts can break the system.

Marco
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  • #62
  • Edited 12:48pm May 14, 2009 11:47am | Edited 12:48pm
Actually the best setup (for the CCI/RSI system), with the highest success rate would be RSI(8) signal level 55, and CCI(21) with 0.

Marco
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  • #63
  • May 14, 2009 12:09pm May 14, 2009 12:09pm
Quoting hybrid
Actually the best setup (for this particular system), with the highest success rate would be RSI(8) signal level 55, and CCI(21) with 0.

Marco
It wont work, code an EA todo it and back test it. And hey presto, it fails big time.
  • #64
  • Edited 1:41pm May 14, 2009 12:23pm | Edited 1:41pm
Quoting tokyomaster
It wont work, code an EA todo it and back test it. And hey presto, it fails big time.
I don't use EAs. I use my brain and it performs decently. The setup is a little slow but has a success rate >75% on a 5min EURUSD chart.

This is a scalping system so don't expect 50pips. But expect 5-10.

Attached is today's EURUSD chart taken few mins ago. The trade signals indicated are trade entries. Set TP to 5-10pips pending on trend strength.

Marco
Attached Image (click to enlarge)
Click to Enlarge Name: RSI CCI.jpg Size: 180 KB
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  • #65
  • May 14, 2009 1:10pm May 14, 2009 1:10pm
Quoting hybrid
I don't use EAs. I use my brain and it performs decently. The setup is a little slow but has a success rate >75% on a 5min EURUSD chart.

This is a scalping system so don't expect 50pips. But expect 5-10.

Attached is today's EURUSD chart taken few mins ago.

Marco
That would indicate that there is an additional parameter you take into consideration before entering the trade apart from RSI > 55 and CCI > 0.

Also, if you take the lowest spread being EURUSD you would need to make 23 pips (overcome spread) to make 5 pips profit.
  • #66
  • May 14, 2009 1:14pm May 14, 2009 1:14pm
Quoting tokyomaster
That would indicate that there is an additional parameter you take into consideration before entering the trade apart from RSI > 55 and CCI > 0.

Also, if you take the lowest spread being EURUSD you would need to make 23 pips (overcome spread) to make 5 pips profit.
There is no additional parameter other than trend and obvious volume check. Oanda's spread is 0.9-1.5pips. Don't know where you got 23 from, but I'd stay away from that broker! lol
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  • #67
  • May 14, 2009 1:59pm May 14, 2009 1:59pm
Quoting hybrid
There is no additional parameter other than trend and obvious volume check. Oanda's spread is 0.9-1.5pips. Don't know where you got 23 from, but I'd stay away from that broker! lol
Alapri (UK) is 5 digit broker. They quote 1.8 which means 18.
  • #68
  • May 14, 2009 2:01pm May 14, 2009 2:01pm
As is oanda and decimal places are still respected.
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  • #69
  • May 14, 2009 2:18pm May 14, 2009 2:18pm
Quoting hybrid
As is oanda and decimal places are still respected.
How would you determine the trend ?,

Buy
- MA 25 > MA 50
- RSI > 55
- CCI > 0

Sell
- MA 25 < MA 50
- RSI < 45
- CCI < 0
  • #70
  • May 14, 2009 2:24pm May 14, 2009 2:24pm
Quoting tokyomaster
How would you determine the trend ?,

Buy
- MA 25 > MA 50
- RSI > 55
- CCI > 0

Sell
- MA 25 < MA 50
- RSI < 45
- CCI < 0
Well I either channel price action, and confirm trend with volume and/or I use divergence/convergence with trend lines within the RSI chart itself. For example, if the price and RSI trends match it is likely a strong trend.
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  • #71
  • May 14, 2009 2:57pm May 14, 2009 2:57pm
Quoting hybrid
Well I either channel price action, and confirm trend with volume and/or I use divergence/convergence with trend lines within the RSI chart itself. For example, if the price and RSI trends match it is likely a strong trend.
What do you use for volume ?
  • #72
  • May 14, 2009 3:00pm May 14, 2009 3:00pm
Quoting tokyomaster
What do you use for volume ?
Just your basic volume indie from MT4. My connection is ECN (not Oanda), so the volume feed is pretty reliable, however if you've got a market maker feed you should consider a volume indie with ticks in it.
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  • #73
  • May 14, 2009 3:19pm May 14, 2009 3:19pm
Quoting hybrid
Just your basic volume indie from MT4. My connection is ECN (not Oanda), so the volume feed is pretty reliable, however if you've got a market maker feed you should consider a volume indie with ticks in it.
So to use my crude example...

Buy
- MA 25 > MA 50
- RSI > 55
- CCI > 0
- Volume < or > ? (what would you determine should be the value)

Sell
- MA 25 < MA 50
- RSI < 45
- CCI < 0
- Volume < or > ? (what would you determine should be the value)

http://www.forexfactory.com/images/misc/progress.gif

  • #74
  • May 14, 2009 4:12pm May 14, 2009 4:12pm
Quoting tokyomaster
So to use my crude example...

Buy
- MA 25 > MA 50
- RSI > 55
- CCI > 0
- Volume < or > ? (what would you determine should be the value)

Sell
- MA 25 < MA 50
- RSI < 45
- CCI < 0
- Volume < or > ? (what would you determine should be the value)

http://www.forexfactory.com/images/misc/progress.gif

You're trying to program an EA aren't ya!! hehe
I really do not think EA will be that successful (at least not consistently). Machines see numbers but have no clue what they mean. They execute orders without knowing what certain rules mean in context of a bigger picture.

The only MA I use is 144 (some use 200), and I only use it as an overall trend indie.

RSI: I usually only use 55, so > buy, < sell. If you really want that extra cushion you can add 45 for sell, but I found 55 reliable enough, and def more rewarding.

Volume: I use VSA. You can't quantify it, you have to take it in relation to background (previous volume and price action). If you want to hard coding this (inadvisable) you could try ensuring the the volume has grown over past 2 candles in the amount of 5-15%. Anything more and it's likely a breakout in formation.

Marco
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  • #75
  • May 14, 2009 4:35pm May 14, 2009 4:35pm
Quoting hybrid
You're trying to program an EA aren't ya!! hehe
I really do not think EA will be that successful (at least not consistently). Machines see numbers but have no clue what they mean. They execute orders without knowing what certain rules mean in context of a bigger picture.

The only MA I use is 144 (some use 200), and I only use it as an overall trend indie.

RSI: I usually only use 55, so > buy, < sell. If you really want that extra cushion you can add 45 for sell, but I found 55 reliable enough, and def more rewarding.

Volume: I use VSA....
Yeah, i know what you mean about EA's. i built one recently for the following....

double ma_fast_new = iMA(Currency[c],0,25,8,MODE_SMMA,PRICE_CLOSE,0);
double ma_fast_old = iMA(Currency[c],0,25,8,MODE_SMMA,PRICE_CLOSE,1);

double ma_slow = iMA(Currency[c],0,50,8,MODE_SMMA,PRICE_CLOSE,0);

double cci_new = iCCI(Currency[c],0,21,PRICE_CLOSE,0);
double cci_old = iCCI(Currency[c],0,21,PRICE_CLOSE,1);

double rsi_new = iRSI(Currency[c],0,8,PRICE_CLOSE,0);
double rsi_old = iRSI(Currency[c],0,8,PRICE_CLOSE,1);

double adx_new = iADX(Currency[c],0,14,PRICE_HIGH,MODE_MAIN,0);
double adx_old = iADX(Currency[c],0,14,PRICE_HIGH,MODE_MAIN,1);

if(ma_fast_new > ma_fast_old && ma_fast_new > ma_slow && cci_new > cci_old &&
cci_new > (+100) && rsi_new > rsi_old && rsi_new > 55 && rsi_new < 75 && adx_new > adx_old &&
adx_new > 30)

BUY SIGNAL

...and guess what, you end up with more loses than wins.....
  • #76
  • May 14, 2009 4:44pm May 14, 2009 4:44pm
Quoting tokyomaster
Yeah, i know what you mean about EA's. i built one recently for the following....

double ma_fast_new = iMA(Currency[c],0,25,8,MODE_SMMA,PRICE_CLOSE,0);
double ma_fast_old = iMA(Currency[c],0,25,8,MODE_SMMA,PRICE_CLOSE,1);

double ma_slow = iMA(Currency[c],0,50,8,MODE_SMMA,PRICE_CLOSE,0);

double cci_new = iCCI(Currency[c],0,21,PRICE_CLOSE,0);
double cci_old = iCCI(Currency[c],0,21,PRICE_CLOSE,1);

double rsi_new = iRSI(Currency[c],0,8,PRICE_CLOSE,0);
double rsi_old = iRSI(Currency[c],0,8,PRICE_CLOSE,1);

double adx_new = iADX(Currency[c],0,14,PRICE_HIGH,MODE_MAIN,0);
double...
Well that's machines for you. Looks good in theory but not practice. Trust me I deal with them all day. They're excellent at executing rules, but unless you build AI into them (which none of the platforms have) you're stuck with a lot of hit-and-misses. I tried a ton of EAs and none of them worked reliably.
A lot of traders say trading is art rather than science, real people behind screens orchestrating moves. I guess you'll have to use your own organic processor for now, just remember to set emotions to off (or at least low) hehe.

Marco
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  • #77
  • May 15, 2009 2:38pm May 15, 2009 2:38pm
Hi all, just to let you guys know I have been using the RSI & CCI set up with A 13sma cross 25sma to confirm the trend I trade the FTSE futures. IT has been working well.. thanks for posting..

All the best from Ireland

Danny..
  • #78
  • May 16, 2009 5:01pm May 16, 2009 5:01pm
Very interesting this system

In the chart : CCI 14 histogram green if RSI 8 > 50
CCI 14 histogram red if RSI 8 < 50
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 16 KB
  • #79
  • May 16, 2009 9:15pm May 16, 2009 9:15pm
Quoting stark
Very interesting this system

In the chart : CCI 14 histogram green if RSI 8 > 50
CCI 14 histogram red if RSI 8 < 50
Looks like a pretty good indie. Could you attach a copy for us to play with
Thanks
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  • #80
  • May 16, 2009 9:20pm May 16, 2009 9:20pm
Quoting rebelheart
Hi all, just to let you guys know I have been using the RSI & CCI set up with A 13sma cross 25sma to confirm the trend I trade the FTSE futures. IT has been working well.. thanks for posting..

All the best from Ireland

Danny..
Thanks for sharing Danny. Which RSI/CCI combo did ya use? 8 and 21?

Marco
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