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Attachments: MTF RSI Trading System
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MTF RSI Trading System

Quoting nonor
Hello After intensive testing the definitive MTFRSI dashboard is available, compiled in MT4 670 , please find it below. Some improvements added to the previous release : - PAIRS LISTS : pair and other instruments could be set in two lists, mono instrument, like _NQ100 or UK100.Z are also take into account, the separator is ; (semicolon) - BLOCK MODE available like previous dashboard , the color give the level of RSI(55) of previous bar related to level 50. - ARROW MODE : the direction of the arrows give the direction of the RSI of the present bar...
Many thanks nonor
Regards orid peter
I entered two trades today, EURUSD and USDCHF. Both reached TP of 30 pips. Pics attached. The red lines is where my entry was.
@Groenie, the script works nicely. Thanks again.
Attached Images (click to enlarge)
Click to Enlarge Name: USDCHFH1_TP.png Size: 51 KB Click to Enlarge Name: EURUSDH1_TP.png Size: 51 KB
Quoting fguru
I entered two trades today, EURUSD and USDCHF. Both reached TP of 30 pips. Pics attached. The red lines is where my entry was. @Groenie, the script works nicely. Thanks again. {image} {image}
What is the purpose of taking 2 times the risk on 2 highly reverse correlated pairs ?
MT4/MT5 EAs/Indicators/Alerts coder
I am checking the index charts before I enter a trade (CICR). And when I see USD bullish, EUR bearish I will sell EURUSD. If CHF is bearish as well I will buy USDCHF. If CHF would have been bullish like USD, I would have stayed out.
Quoting fguru
I entered two trades today, EURUSD and USDCHF. Both reached TP of 30 pips. Pics attached. The red lines is where my entry was. @Groenie, the script works nicely. Thanks again. {image} {image}
Very nice fguru!
Hey Nunur and Txfxtrader and others,

I'll be testing this system, for sure.

But encountered something odd with Nunur Dash (attached)

White circled where it should be other color... many more like this at the same picture.

Cheers and God bless.

edit: should we be paying attention to ADR(0) and ADR(5) on that dash?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 57 KB
Quoting Art5
Hey Nunur and Txfxtrader and others, I'll be testing this system, for sure. But encountered something odd with Nunur Dash (attached) White circled where it should be other color... many more like this at the same picture. Cheers and God bless. {image}
As I understand it the arrows checks both the slope from the previous bar to the current bar and if the value is above/below 50. This may be why it shows different.

Quoting nonor
ARROW MODE : the direction of the arrows give the direction of the RSI of the present bar related to the previous bar, the color of the arrow
match the block mode, so two info available in this mode...
*edit: The ADR5 is the important one, it should be above 60 before you enter a trade

Quoting txfxtrader
7. Pairs: All with < 4 pip spread & 5 day ADR > 60 pips
Thanks a lot, Groenig.

Didn't read carefully the thread and asked easy-searchable questions. Won't happen again.

Cheers and God bless.
Quoting Art5
Thanks a lot, Groenig. Didn't read carefully the thread and asked easy-searchable questions. Won't happen again. Cheers and God bless.
No worries, anyone can miss a few things

One thing I noticed from nonor's dashboard, the default setting is 55, just correct that to 2 or 3

Quoting txfxtrader
2. Setting: 2 or 3 with 50 oversold & overbought
*edit: while I'm here I might as well upload the new Hitman indies

The zip has Hitman v1.3, the new Hitman Lite (better performance and smaller display size), trading manual (it explains the strategy with examples) and some extras like templates
Attached File
File Type: zip MTF_RSI.zip   1.4 MB | 4,009 downloads
Sorry, I believed the period of RSI was 55 for this system, don't know where I found that...

and yes for the arrow, the color match the RSI level of the previous bar, the arrow direction is based on the RSI of the current bar
compared to the previous one, so the color has nothing to do with the arrow direction.
No more Fight, the victory has come...
Quoting nonor
Sorry, I believed the period of RSI was 55 for this system, don't know where I found that...
The original period was 55, then it became 2 when the D1 was added

Maybe the 55 is still valid if you only use the M1 to H4 timeframes... TxFxTrader will have to clarify
Hi Guys, been viewing with interest, seems like a great indi, I like color co-ordination, easier to read at a glance, could the ADR be color coded to represent >60 blue, < 60 Red, Regards P
Quoting Pinkas
Hi Guys, been viewing with interest, seems like a great indi, I like color co-ordination, easier to read at a glance, could the ADR be color coded to represent >60 blue, < 60 Red, Regards P
The Hitman and H-Lite indies in the zip file a few posts up do that. You can use that until Nonor implements it in his dashboard.
the reason for color co-ordination, things look very clear, trading, mmm a little more tasking, lol
Attached Image (click to enlarge)
Click to Enlarge Name: forex1.png Size: 11 KB
Analysing both RSI 2 and 3, at Nonor dash, I realized they were (in some aspects) completely different from each other. From the arrows to ADR(5) numbers.

So, the question is:

Which one to use? Or which one to use at what circunstamces? It affect Hitman as well, so I'm asking about it, too.

Cheers and God bless.
Quoting Pinkas
the reason for color co-ordination, things look very clear, trading, mmm a little more tasking, lol {image}
Well you can certainly change the colors in both Nonor's dashboard and Hitman to match your tastes...

What are all those histograms you have below if I may ask?
Thanks for answering my question, some are paid indi's the others I will post if you want, just regular ones from MT4 but juggled them around to make histograms
Quoting Art5
Analysing both RSI 2 and 3, at Nonor dash, I realized they were (in some aspects) completely different from each other. From the arrows to ADR(5) numbers. So, the question is: Which one to use? Or which one to use at what circunstamces? It affect Hitman as well, so I'm asking about it, too. Cheers and God bless.
The 3 is just a little slower than the 2.

Pull a normal RSI indi onto your chart with the period of 3 and price as close. Now cycle through the timeframes from M1 to D1 and compare what the RSI indicator is showing against Hitman.

Now do the same with a period of 2. You will see with the RSI indi the line moves a little bit faster than when you had the 3 period. Do some demo tests with both and see which one works better for you.
Sorry to show my ignorance, how can I transfere an indicator to this board, now we have the data folder on the mt4 platform its hard to find going through the programe files, sorry
Quoting Pinkas
Thanks for answering my question, some are paid indi's the others I will post if you want, just regular ones from MT4 but juggled them around to make histograms
If there is a RSI histo in the ones you can post, I'd be very happy, even more happy if it's MTF
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