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  • #21
  • May 11, 2011 12:51pm May 11, 2011 12:51pm
Quoting mysticgenie
Please read again. I use RSI 9, MA 5 setting.
I'm sure it was a simple oversight, but no where in this thread did you specify your default values (however a close inspection of your charts does show "RSI(9)" in the upper-left corner). (Fyi, Revstar was using 14 like me). Do you use the default "MA_method = 1" which is "EMA" ?

Quote
red line is rsa, ma blue line ( this the ma of RSI period).
Sorry to insist, but I'm a programmer (in other words, not a newbie at this). The red line is the MAofRSI. The blue line is the actual RSI. You can see that the blue line is a lot more squiggly, whereas the red line is smoothed (because it's a moving average of the blue). Furthermore, if you move your cursor on top of exactly one red line or the blue, the MT4 popup labels will tell you the value and a label that says what it is. Blue will say "RSI(9)".

Quote
Trades are taken on 4h and daily time frame.
1H may be used for intraday scalping.
Thanks for your interest.

Thanks for clarifying your timeframes. You also mentioned that PA is an important factor. Can you briefly describe what you're watching for? E.g. pinbars? dojis? multi-candle formations? HH? LL? Watching PA is an art form, so I'm just curious what you're focusing on if you wish to comment.


FYI, here is the same MA+RSI indicator as before, except I changed the defaults to RSI(9) and the MA to (5). I'm using mode EMA as before. Besides defaults, I modified only the upper-left-corner text (the IndicatorShortname) so it will now say "RSI(9)+EMA(5)". I also modified the popup description for the red line which now indicates what type of MA it is along with the number (e.g. "EMA(5)" ).


Continued good trades to you...
Attached File(s)
File Type: mq4 RSI+MA.mq4   6 KB | 784 downloads
  • #22
  • May 11, 2011 4:29pm May 11, 2011 4:29pm
Quoting pips4life
I'm sure it was a simple oversight, but no where in this thread did you specify your default values (however a close inspection of your charts does show "RSI(9)" in the upper-left corner). (Fyi, Revstar was using 14 like me). Do you use the default "MA_method = 1" which is "EMA" ?


Sorry to insist, but I'm a programmer (in other words, not a newbie at this). The red line is the MAofRSI. The blue line is the actual RSI. You can see that the blue line is a lot more squiggly, whereas the red line is smoothed (because it's a moving average...
Great job with new indicator.
I guess I was wrong, but the method remains the same--I am comfortable with color code --lol
I use EMA 1 setting.
It works very well on long time frames than in shorter time frames.
I trade this way in this account only since it is more of investment account.
I have a scalping account where I use strict stop losses with unique money management. ( I will describe this later sometime)
Yes, regarding PA, trendlines and the candlestick reveral or continuation patterns ( pin bars, engulfing patterns, trendline break, playing inside the channel or channel break etc.)are taken into account.

I will appreciate if you can make a EA out of it.

Best,
  • #23
  • May 13, 2011 12:53am May 13, 2011 12:53am
Quoting mysticgenie
I will appreciate if you can make a EA out of it.

I'm working on some other things so I'm pretty busy right now, but in order to put together any kind of EA would require very precise description of the setups that and EA should or should not take. It is very hard to code subjective criteria if not impossible. Code is very objective, so if it can be logically described, there's a far better chance to do so.

You watch for red MAofRSI to cross the 50-line. Should that consider only crosses after closes? Or would you consider real-time crosses that might in fact un-cross by the time the latest bar finishes. For a long cross up, how many bars (minimum) should the red line be below the 50 prior to the cross?

After the red cross, you watch how the blue RSI interacts, and you watch how it may turn to touch or cross the red MA line, then you act when the RSI turns back in the same direction. But must this occur within some specific number of bars? I see a lot of places where the red crosses and the blue stays the same direction until quite a few bars later, often well after the move is basically over.

Should the EA consider (or insist on) various bar signals like pinbars, etc. ?

I'm just making some suggestions for the kind of detail that would be necessary. If you are able to put down a more detailed description, along with lots of charts showing where you would expect ALL the signals of an EA to be (both the good and bad), it would very much help a programmer (either me or someone else) to write something.
  • #24
  • May 13, 2011 4:18am May 13, 2011 4:18am
Quoting mysticgenie
I have a scalping account where I use strict stop losses with unique money management. ( I will describe this later sometime)
I would love to see that if and when you get a chance to describe it.
  • #25
  • May 13, 2011 7:23am May 13, 2011 7:23am
Hey MG & Pips for life,

I would be more than happy to contribute some thinking on an EA, I could contribute to a form of spec, which i think P4L would need... I would only comment with my rules which is mostly PA based.. for example I often find that after a bullish outside bar, there is a continuation, then the indicator will tend to follow in kind.

I use the 14 period settings as its less whippy, gives me more time to evaluate trades..i.e. scalling in/out and or place hedge.

happy to input

RS

Quoting pips4life
I'm working on some other things so I'm pretty busy right now, but in order to put together any kind of EA would require very precise description of the setups that and EA should or should not take....
  • #26
  • May 14, 2011 10:02am May 14, 2011 10:02am
Dear Pips4life,
Thanks for your reply.
Here I will specify some rules. Let's try with some simple rules to build a EA for backtesting and also forward testing. We can then add further rules later on.
1. For now, we will eliminate looking at the PA. We will only focus on RSIMA. Use RSIMA setting: RSI 9 MA period 5, and EMA 1.
Long set up: when both red and blue lines move above 50 and blueline crosses above red line.
Short set up: red and blue lines move below 50 and blue line crosses below red line.
2. SL 50 pips TP 100 pips.
3. test in 15 min, 1 hour, and 4 hour time frames on EurUsd, EurJpy, Audusd pairs.
4. Please tell me if you get one winner every 7 trades with this specification.
I will then tell you the money management part.
I can assure you you will not regret once we are done with testing.
In combination with money management this will be a winning strategy.

Please reply if you need any further clarification.
I am not good at posting charts, but I will attach one here for example.
Best,



Quoting pips4life
I'm working on some other things so I'm pretty busy right now, but in order to put together any kind of EA would require very precise description of the setups that and EA should or should not take. It is very hard to code subjective criteria if not impossible. Code is very objective, so if it can be logically described, there's a far better chance to do so.

You watch for red MAofRSI to cross the 50-line. Should that consider only crosses after closes? Or would you consider real-time crosses that might in fact un-cross by the time the latest bar...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 53 KB
  • #27
  • May 14, 2011 6:38pm May 14, 2011 6:38pm
Here you are. The bot makes no use of the EMA you mention in the previous post because you do not describe what to do with it.

The code is merely an adaptation of a robot I have already coded and am trying to tweak before releasing, so there is an input MaxBarsAgoForCross that tells the robot how far back in time it will accept a cross of the rsi over the rsi ma. If you do not want this, set it to something ridiculously high.

To anyone reading the code, there is a lot of redundant stuff because this is an adaptation of an existing bot.

TP and SL are in pips not points; the bot automatically adjusts to x digit criminals.

Trading hours are in your computer's local time.

Have fun.

Attached File(s)
File Type: mq4 Mystic auto trading robot by Steve Hopwood.mq4   18 KB | 680 downloads
  • #28
  • May 14, 2011 7:07pm May 14, 2011 7:07pm
Quoting mysticgenie
Dear Pips4life,
Thanks for your reply.
Here I will specify some rules. Let's try with some simple rules to build a EA for backtesting and also forward testing. We can then add further rules later on.
1. For now, we will eliminate looking at the PA. We will only focus on RSIMA. Use RSIMA setting: RSI 9 MA period 5, and EMA 1.
Long set up: when both red and blue lines move above 50 and blueline crosses above red line.
Short set up: red and blue lines move below 50 and blue line crosses below red line.
2. SL 50 pips TP 100 pips.
3. test in 15 min,...
Nice entry but it seems like you would have it a bit later than shown, or are you taking it when 50 lines are penetrated without the close itself...?

However, I would have trailed it on a 15M or 30M with something... Just in case blue goes red... Exit has always been the hard part though..

Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2011-05-15 at 10.03.43 AM.png Size: 36 KB


Entering after news sessions and Dax bourse close to open NYSE time is something I do everyday... Just trying to predict the choppy sessions and trending sessions...

This week was really giving away pips though, 800 pips in one week... wow..
  • #29
  • May 15, 2011 7:05am May 15, 2011 7:05am
Thanks Steve--I will try this out.


Quoting SteveHopwood
Here you are. The bot makes no use of the EMA you mention in the previous post because you do not describe what to do with it.

The code is merely an adaptation of a robot I have already coded and am trying to tweak before releasing, so there is an input MaxBarsAgoForCross that tells the robot how far back in time it will accept a cross of the rsi over the rsi ma. If you do not want this, set it to something ridiculously high.

To anyone reading the code, there is a lot of redundant stuff because this is an adaptation of an existing bot.

TP...
  • #30
  • May 15, 2011 7:06am May 15, 2011 7:06am
Dear Larseq,
I do not wait till the close price. As soon as the price penetrates the 50 level I will take the trade usually.
Money mangement takes care of the rest.


Quoting Larseg
Nice entry but it seems like you would have it a bit later than shown, or are you taking it when 50 lines are penetrated without the close itself...?

However, I would have trailed it on a 15M or 30M with something... Just in case blue goes red... Exit has always been the hard part though..

Attachment

Entering after news sessions and Dax bourse close to open NYSE time is something I do everyday... Just trying to predict the choppy sessions and trending sessions...

This week was really giving away pips though, 800 pips in one...
  • #31
  • May 15, 2011 4:51pm May 15, 2011 4:51pm
Quoting mysticgenie
Dear Larseq,
I do not wait till the close price. As soon as the price penetrates the 50 level I will take the trade usually.
Money mangement takes care of the rest.

Yep, thats fair enough. Honestly, waiting for the close can go either way and normally equal each other out over time anyway....
  • #32
  • Aug 11, 2011 4:27am Aug 11, 2011 4:27am
Hey MG, hope all is well, have you had chance to be involved in much of the market action? is the MA+rsi system holding up ok?
best
RS
  • #33
  • Aug 11, 2011 7:24am Aug 11, 2011 7:24am
Quoting Revstar
Hey MG, hope all is well, have you had chance to be involved in much of the market action? is the MA+rsi system holding up ok?
best
RS
Hello my friend,
Yes, there are some good trends I caught. RSI+ MA system is doing well. Currently I am on the side line after catching a big move on Aud/Usd.
Will wait till market settles down a bit likely in sptember.
Hope, you are doing well.

Best wishes,
  • #34
  • Edited 3:21pm Aug 14, 2011 2:37pm | Edited 3:21pm
Hey MG,
I am doing well... I am currently developing a small account strategy using the riskiest rewardiest way of trading. The idea being synthesising other methods to develop my own strategy.

This is to, in part, satisfy my ego that wants me to trade full pelt all the time!! this allows me to trade my conservative account more, shall i say 'more sensibly' (pa, money management etc..) & allows me to satisfy the craving that all traders get (i think) which is to see their account spike upward time and time again... in a relativly short time, when mkt conditions are right...

So far results have been mixed, but once market action becomes more normal i am expecting some more consistant results.. i will keep you updated.. If your practice allows you time, please share more tidbits on your methods and general experiences, i, and i'm sure others find them really interesting...

take care
Best
RS
  • #35
  • Aug 15, 2011 5:49pm Aug 15, 2011 5:49pm
Thanks Revstar for the update---my best wishes with your effort---as long as you are nimble with this kind of market, you will make money--currently I am flat till the summer doldrum ends--will keep you posted any new development---



Quoting Revstar
Hey MG,
I am doing well... I am currently developing a small account strategy using the riskiest rewardiest way of trading. The idea being synthesising other methods to develop my own strategy.

This is to, in part, satisfy my ego that wants me to trade full pelt all the time!! this allows me to trade my conservative account more, shall i say 'more sensibly' (pa, money management etc..) & allows me to satisfy the craving that all traders get (i think) which is to see their account spike upward time and time again... in a relativly short time,...
  • #36
  • Feb 4, 2012 12:00am Feb 4, 2012 12:00am
Hi mysticgenie, if you're still around can you expand a little more about your additional entries. Do you add on if you're already in drawdown and there is another cross of the RSI MA? Or is it once you establish that price is headed back in your direction that you add more positions?

Thanks for sharing the ideas!
  • #37
  • Aug 15, 2014 10:41pm Aug 15, 2014 10:41pm
Hi MG, my name is Chris i am pretty new to trading, studying since 8 month and have blown out a few demo accounts. I have read 3 books on candlestick from Stephen Bigalo, but my problem partially was entries and money management. Based on your RSI+MA entries I think that settles many issues. Great job as explained. I have read your threads on 1k in 1 week to 100k and this one. Lot's learning continued. I really appreciating your time. You never elaborated your ideas on MM further. It would be quite educational for us if you could share. I am planning to start with a 5K trading account and plan eventually to continue trading for living. What are you position size recommendation for such a sized account. Leverage 1:400 i was thinking. Many thanks in Advance. Chris
  • #38
  • Last Post: Aug 29, 2015 6:17am Aug 29, 2015 6:17am
Hello there MG,

I have noticed RSIMA is acting almost identical to TDI. Standart TDI configuration is less choppy then RSIMA. May be you would like to try that.
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