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The RSI Trade

  • #401
  • Jul 11, 2009 6:32pm Jul 11, 2009 6:32pm
Quoting andypips
Hey JD
It looks like that chart is from close of business friday. hartnet won't be doing anything until sunday night now.
Andy.
Yes, that would be the plan for next Monday.
  • #402
  • Jul 12, 2009 4:14am Jul 12, 2009 4:14am
.. I put the asymmetrical RSI back up as it shows divergence so well. This chart is late on Friday, long after I stopped for the day, but it shows a setup well. Still have the close-only parabolic on for trade hold, but it will go as QQE does that job better imho.

TRIX or ARSI ? Hmm, that's difficult, TRIX is smoother, but the RSI levels and WMA crossover also have plenty to say...

This setup, which is also a Trader Vic 2b setup ("double top higher high reject") shows a GREAT value of QQE (in addition to its trade hold virtues) : it crossed down on the retrace from the first swing high, but stayed uncrossed when the DT HH ws formed : a very strong sell confirmation.

I haven't drawn the correct entry point... (which I'll leave strictly to "the imagination of the imaginer", as Frank Zappa used to say...) hehe...

Thanks for posting your new RSI tests, K : I LOVE the clean charts, but am rather doubtful about the method at this stage.
Attached Image (click to enlarge)
Click to Enlarge Name: EC too many indicators.jpg Size: 137 KB
  • #403
  • Jul 12, 2009 6:54am Jul 12, 2009 6:54am
Quoting jdcompute
Sure did my friend. I just love the simplicity of this system. I'm 15 for 15 so far using this. And you're right, the 20 pip SL is perfect. Any less would've stopped me out of some good trades and I personally don't like risking more than 20 pips anyway. This system fits my comfort zone just right. By the way, I'm in Fort Worth, TX and it seems that I read somewhere that you or someone else was in Dallas.
Hi,

do you take the rsi trend lines as counter trend and trend following trade entries?

Do you still trade the ATM system?
  • #404
  • Jul 12, 2009 7:40am Jul 12, 2009 7:40am
Quoting jtrade
.. I put the asymmetrical RSI back up as it shows divergence so well. This chart is late on Friday, long after I stopped for the day, but it shows a setup well. Still have the close-only parabolic on for trade hold, but it will go as QQE does that job better imho.

TRIX or ARSI ? Hmm, that's difficult, TRIX is smoother, but the RSI levels and WMA crossover also have plenty to say...

This setup, which is also a Trader Vic 2b setup ("double top higher high reject") shows a GREAT value of QQE (in addition to its trade hold virtues) : it crossed...
Hi J,
Vic 2B is very powerful signal. and yes it is confirmed by the divergences. Nice set up. Where do you get your TS indicators?
The new set up is interesting, but I am still looking at it. I though I would post and see what you guys can notice.
Kareem
Trade Garlic
  • #405
  • Jul 12, 2009 3:27pm Jul 12, 2009 3:27pm
Quoting kareem40
Where do you get your TS indicators?
Mostly on the TSW forum (you need a TS8 account to access) : the ARSI code was in there somewhere and I added the WMA. PM or email me with what you'd like and I'll send it over (as you know Jurik and MTP stuff is locked to platform customer ID).
  • #406
  • Jul 13, 2009 1:20am Jul 13, 2009 1:20am
Quoting MCFly
Hi,

do you take the rsi trend lines as counter trend and trend following trade entries?

Do you still trade the ATM system?
I take the rsi trendlines as both counter trend and trend following. And yes! I will always trade the ATM system! This works with it so seamlessly.
  • #407
  • Jul 13, 2009 3:07am Jul 13, 2009 3:07am
I hereby claim the prize for posting the most variations of RSI to this thread. This is TrendRSI, another smoothed RSI, this time with ATR in the calculation. "In for observation".
Attached Image (click to enlarge)
Click to Enlarge Name: EC TrendRSI.jpg Size: 103 KB
  • #408
  • Jul 13, 2009 2:47pm Jul 13, 2009 2:47pm
Hi J.
You may hold that title but I think I post the most colourful.
I found this one tonight .
Its basically green above 50 and red below, except that it gets darker red and green as they get stronger.
Andy
Attached File(s)
File Type: ex4 multisymbol_color-RSI_LQ.ex4   6 KB | 702 downloads
  • #409
  • Jul 14, 2009 4:14am Jul 14, 2009 4:14am
This is another one I took around the London open.
Attached Image (click to enlarge)
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  • #410
  • Jul 15, 2009 7:18am Jul 15, 2009 7:18am
Quoting jdcompute
This is another one I took around the London open.
Nice one JD,
Nice break, nice trade.
Trade Garlic
  • #411
  • Jul 15, 2009 9:31am Jul 15, 2009 9:31am
Quoting jdcompute
This is another one I took around the London open.
Hi,

I have added a few trendlines with more or less false signals. Why didn't you traded these breakes? It seems to me that drawing the trendlines on the rsi is rather subjective.
Attached Image (click to enlarge)
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  • #412
  • Jul 15, 2009 10:49am Jul 15, 2009 10:49am
Hi McFly:

Your point is well taken. Personally, I simply use the 50 level as the line in the sand when it comes to interpreting the RSI. Above 50, up trend, Below 50, down trend. I will never use the 1-min, 3-min 5-min time frames IF I didn't first gain perspective from larger intraday time frames. Many traders use the RSI as a scalping tool but in fact, it gives excellent indication to directional bias if we use them on the Daily, 240-min, 60-min, 30-min. And finally, this is also a personal way of utilizing the said indicator, I put heavy emphasis on patterns and Elliott wave structures instead of blindly drawing trend lines both on the bars and the indicator. And of course, my main tool is the Andrew's Lines as well. Apologize for putting up something which is out of context to this thread. Take care.

Have a good one
Jeff

Edit: If we are incorporating price structures and patterns onto the analysis, the 5-min entries depicted aren't a trade setup at all. At best, it was a scalp short trade; with an obvious bullish stance in place for the said pair.

Quoting MCFly
Hi,

I have added a few trendlines with more or less false signals. Why didn't you traded these breakes? It seems to me that drawing the trendlines on the rsi is rather subjective.
Attached Image (click to enlarge)
Click to Enlarge Name: Trash 1.gif Size: 36 KB
~*~You are only one trade away from humility~*~
  • #413
  • Jul 15, 2009 1:07pm Jul 15, 2009 1:07pm
Quoting jharteam
Hi McFly:

Your point is well taken. Personally, I simply use the 50 level as the line in the sand when it comes to interpreting the RSI. Above 50, up trend, Below 50, down trend. I will never use the 1-min, 3-min 5-min time frames IF I didn't first gain perspective from larger intraday time frames....
Hi Jharteam,

I would love to know more about things like Gartley patterns or volume trading but unfortunately I don't have the time atm to learn more about this stuff.

Back to topic. What I noticed is when a new trend is established (2 higher lows or two lower highs) before a rsi trendline breaks you can go for 10 pips (EUR/USD). But I don't know if it's a robust idea.
Attached Image (click to enlarge)
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  • #414
  • Jul 15, 2009 8:02pm Jul 15, 2009 8:02pm
Quoting jtrade
I hereby claim the prize for posting the most variations of RSI to this thread. This is TrendRSI, another smoothed RSI, this time with ATR in the calculation. "In for observation".
Agreed your price and indicators are very visible. Can you kindly assist me to download the technical indicators?

May you being bless with abundance of health, love and wealth.
Loving Life.............
  • #415
  • Jul 16, 2009 1:48am Jul 16, 2009 1:48am
Quoting aida1960
Agreed your price and indicators are very visible. Can you kindly assist me to download the technical indicators?

May you being bless with abundance of health, love and wealth.
aida - do you have Tradestation & if so, which indicators would you like ?

J.

PS. I leave for an extended vacation tomorrow, so not much time...
  • #416
  • Jul 16, 2009 7:34am Jul 16, 2009 7:34am
Yes this set up can be subjective. The RSI trend line set up in here to give small advantage. Also my trading style always get me to break even at +10, do I get many BE trades. With this set up, I am trying to find the turning point and many times it would take several tries ( stops or BE stops) to do this. But once you do catch a turning point, you should ride it to the next breaking point.
Thanks for the new posts.
Kareem
Trade Garlic
  • #417
  • Edited 4:44pm Jul 17, 2009 4:15pm | Edited 4:44pm
The popular and the most used timeframe is H1
The popular and the most used indicator is RSI
The most profitable trade system is at H1 with RSI indicator

Try it and you will understand that I am right!
No stres no confusing, just trade two or three times a day. You can increase trading with different pairs.

From today
At least 50 pips from EUR/USD, you can try with different pairs and gain more.

http://images.upload2world.com/get-7..._com_gmivs.gif

or at M30 from EUR/USD

http://images.upload2world.com/get-7...com_znlpep.gif
  • #418
  • Jul 17, 2009 4:35pm Jul 17, 2009 4:35pm
Another example from GBP/USD at least 100 pips. Actually I do not trade with this pair

http://images.upload2world.com/get-7...om_yfdoidb.gif
  • #419
  • Jul 17, 2009 4:40pm Jul 17, 2009 4:40pm
You can make your trade powerful, dangerous, crazy by using divergence

http://images.upload2world.com/get-7..._com_ncrlm.gif
  • #420
  • Jul 19, 2009 2:32am Jul 19, 2009 2:32am
where are the pictures that i posted?
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