RSI-3TF - RSI in 3 Time Frames
I love this indicator, Alex. Thanks for posting it.
Please let uis know if you find any other multi timeframe indicators.
What a great forum as well !!!
Cheers
Chris
Look Back
Just to let you know the indicator readjusts itself. For example I got a signal that disappeared after a few bars. I then got a long signal at 08-10am which establishedtself. When I checked the time of the signal jusr 15 minutes later, it had reset itself to 08-01am.
Does anyone know how to correct this look back ? It does do my head in a bit when I see it disappear. If it can't be fixed then trade with longer timeframe signal that has established itself.
Cheers
Chris
don.gading, how did you read signals out of this indicator? (upper/lower horizontal lines?)
Hi Saintan,
The upper and lower lines represent the timeframes selected breaking the 60/40 level or whatever you have inputted.
When these kick in on the longer timeframes extra momentum is going into the price. Look for both to kick in. Between the 60/40 levels when thereis no signal also keeps you out of a lot of sideways movement.
Author are trying to describe everything about this indicator in alpari forum http://forum.alpari-idc.ru/viewtopic.php?t=46049&postdays=0&postorder=asc&start=0&sid=715a34ae1b963ba96d0a321eb22c00b4
I will read and will tell you what is on.
Well. And finally they confirmed that (it is not my translation):
"Just to let you know the indicator readjusts itself. For example I got a signal that disappeared after a few bars. I then got a long signal at 08-10am which establishedtself. When I checked the time of the signal jusr 15 minutes later, it had reset itself to 08-01am.
Does anyone know how to correct this look back ? It does do my head in a bit when I see it disappear. If it can't be fixed then trade with longer timeframe signal that has established itself."
Well. Now I understand. On this russian alpari forum the author is talking with our Alex.Piech.FinGeR.
The author does not speak english and Alex.Piech.FinGeR does not understand russian language. They created this indicator all together and one russian was trying to be an interpreter. Very funny program development when nobody understands each other: only mql4 language.
Thus author's idea was the following (this russian translated - not me):
"My working currency pair is EURUSD. If there is doubts, but I want to be in the market, I work with franc (the price of pips is less). Also I look at pound, but for pound this method isn't very useful - it is very fast, grow and grow... RSI couldn't be in it's zones on big timeframes. I use it only to confirm real movement of euro. On the true movement, euro and gbp go step in step, even cancdles could be drawn equally. I have never used cross rates.
Stops... It depends on situation, targets and locations of levels R\S... In any case I put stop... First, as a rule, big (for intraday), technical - upto 55 pips. Such a stop gives me some time to think on situation, if enter was wrong and maybe the overturn is necessary, not waiting a loss. Usually, an impuls on M15 very selcom can be more than 50 pips - that protects the order from early closing, especially if enter was on the very extremum.
This common rules are for pipsing.
Levels of RSI (21 and 76) - are necessary minimum, it is better when RSI (3) on M15 touches 10 and 90 levels..."
Just like I thought, too beautifull to be true. Thanks for your comments and superb forum.
By the way if some one will find a way how to "fix" this thing let us know
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RSI-3TF = RSI in 3 Time Frames
is Great Indicator by Russian
Example
М15 Chart Indicator RSI-3TFRSI(5), М30(7), Н1(14)
look image..
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