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4 Hour Strategy (MACD)

  • #23,581
  • Nov 24, 2010 9:03am Nov 24, 2010 9:03am
Hello Phillip and to all of you here,

I want to share something here:-
http://www.forexfactory.com/showpost...&postcount=557.

Found this kind of idea/method/strategy only suitable for EU H4 atm. Any input will be appreciated. No prove of it yet but will try for sure.

Regards.
  • #23,582
  • Nov 24, 2010 1:11pm Nov 24, 2010 1:11pm
orangeRANGE could you post the RSI coloured indi....can't seem to find it anywhere. thanks
  • #23,583
  • Nov 24, 2010 4:58pm Nov 24, 2010 4:58pm
Quoting kraven
orangeRANGE could you post the RSI coloured indi....can't seem to find it anywhere. thanks
There you go...
Attached File(s)
File Type: mq4 RSIBar.mq4   2 KB | 457 downloads
  • #23,584
  • Nov 24, 2010 5:05pm Nov 24, 2010 5:05pm
thanks orange.
  • #23,585
  • Edited 5:26pm Nov 24, 2010 5:11pm | Edited 5:26pm
Hi Orange,

thanks for the idea and the indicator. but how do I make the indi visible? might be an interesting combination with doublecci ....

Sorry for OT @all

Regards
  • #23,586
  • Nov 24, 2010 8:32pm Nov 24, 2010 8:32pm
Quoting ashes
Hi Orange,

thanks for the idea and the indicator. but how do I make the indi visible? might be an interesting combination with doublecci ....

Sorry for OT @all

Regards
What do you mean by making the indi visible? All you need to do is double click the RSI Bar in your custom indicators folder and that's it.
  • #23,587
  • Nov 25, 2010 4:04am Nov 25, 2010 4:04am
Quoting ammar2000a70
Dear phillip and all other traders

I have been use this method long time and until now and i made some changes and that for me only, and I would like to ask is there any big changes in the settings of the indicators or any other changes in the technical methodes?

Best wishes
Mohd
Hi Mohd,
I tried to download your attachments, but without success. Any chance for another link??

Thanks

Forex37
  • #23,588
  • Nov 25, 2010 4:42am Nov 25, 2010 4:42am
Short GBP
Short AUD

will post charts later



Boris
  • #23,589
  • Nov 25, 2010 5:50am Nov 25, 2010 5:50am
Quoting orangeRANGE
What do you mean by making the indi visible? All you need to do is double click the RSI Bar in your custom indicators folder and that's it.
it doesn't show when chosen. maybe I need an mt4 update
  • #23,590
  • Nov 25, 2010 6:00am Nov 25, 2010 6:00am
Quoting ashes
it doesn't show when chosen. maybe I need an mt4 update
you can go to www.fxtradeblog.com to find the RSI Bar indi (in case mine is not working for your mt4).

This RSI Bar is created by Palmer, senior member of this thread & FF, but I haven't see his post here for quite sometime already.
  • #23,591
  • Nov 25, 2010 7:57am Nov 25, 2010 7:57am
indi worked fine for me. if it's the RSI line you want Ash just click and drag normal MT4 indi to the open coloured bar indi
  • #23,592
  • Nov 25, 2010 1:29pm Nov 25, 2010 1:29pm
hi Orange,

although I could not get the original indicator to work, the rsi8 with line 55 and 45 seems to give help when to enter according to marketrhythm rules. I have been backtesting a little, with atr21 as r definition, r:r just 1:1 and the outcome was nice. slight tweaking as to take larger profits by tl orientation should be possible, also letting part of the position run if the chances look good.

thanks for the tip


@kraven, thanks, didn't take time to fiddle around with the indi, it worked out anyway
  • #23,593
  • Nov 25, 2010 7:03pm Nov 25, 2010 7:03pm
Quoting ashes
hi Orange,

although I could not get the original indicator to work, the rsi8 with line 55 and 45 seems to give help when to enter according to marketrhythm rules. I have been backtesting a little, with atr21 as r definition, r:r just 1:1 and the outcome was nice. slight tweaking as to take larger profits by tl orientation should be possible, also letting part of the position run if the chances look good.

thanks for the tip


@kraven, thanks, didn't take time to fiddle around with the indi, it worked out anyway
You are welcome.

I don't know how you use Average True Range 21 as r definition, but I will look into it as well. I hope you will get the coloured RSI Bar indi work for your mt4 because your eyes will be more alert for the signal (unless you are colour blind: NO JOKE).

If you use my PW (Price Wave), you'll get better chances for r:r=1:1. And, atm this idea is only suitable for EU pair. I'm not sure about other majors.

Thanks to both Phillip & Palmer for the idea of RSI 8 & RSI bar respectively. Phillip use RSI 8 because he correlate it with nearest MA with the price, which is 8ema.

All the best & let me know if this method gives you nice return.

Regards.
  • #23,594
  • Nov 26, 2010 12:03am Nov 26, 2010 12:03am
Quoting ashes
hi Orange,

although I could not get the original indicator to work, the rsi8 with line 55 and 45 seems to give help when to enter according to marketrhythm rules. I have been backtesting a little, with atr21 as r definition, r:r just 1:1 and the outcome was nice. slight tweaking as to take larger profits by tl orientation should be possible, also letting part of the position run if the chances look good.

thanks for the tip


@kraven, thanks, didn't take time to fiddle around with the indi, it worked out anyway
ashes & everyone,

I just noticed that it is also important to get agreement from H1 once you get the signal from H4. When I do some backtesting just now, if both RSI & RSI Bar from both TFs in agreement, you can avoid false signal given by the H4.

I will give example later today. Cheers.
  • #23,595
  • Nov 26, 2010 12:27am Nov 26, 2010 12:27am
Quoting Borism
Short GBP
Short AUD

will post charts later



Boris

Set AUd to BE
Trailing stop to 85 pips
  • #23,596
  • Nov 26, 2010 3:44am Nov 26, 2010 3:44am
Quoting Borism
Set AUd to BE
Trailing stop to 85 pips
Boris,
What target for the Australian you have in mind? Are you trading head and shoulders?

Thank you
  • #23,597
  • Nov 26, 2010 5:19am Nov 26, 2010 5:19am
Quoting orangeRANGE
ashes & everyone,

I just noticed that it is also important to get agreement from H1 once you get the signal from H4. When I do some backtesting just now, if both RSI & RSI Bar from both TFs in agreement, you can avoid false signal given by the H4.

I will give example later today. Cheers.
As I promised:- http://www.forexfactory.com/showpost...&postcount=565

Any input will be appreciated. TQ.
  • #23,598
  • Nov 26, 2010 10:16am Nov 26, 2010 10:16am
Quoting MidnightRun
Boris,
What target for the Australian you have in mind? Are you trading head and shoulders?

Thank you
Hi
my target is 89 on daily chart. Will close and then see how the price will evolve....
On the long run, I think that price could test the 0.9370 support....


Regards
Boris
  • #23,599
  • Nov 26, 2010 10:19am Nov 26, 2010 10:19am
Quoting Borism
Hi
my target is 89 on daily chart. Will close and then see how the price will evolve....
On the long run, I think that price could test the 0.9370 support....


Regards
Boris

AUDUSD chart
Attached Image (click to enlarge)
Click to Enlarge Name: aus.jpg Size: 129 KB
  • #23,600
  • Nov 29, 2010 4:12am Nov 29, 2010 4:12am
Short EURUSD
1.3213
SL: 1.3270
Target: 1.3080
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