Yes, you are right .
about the exits
Happy new year
I have plotted the Ind indicator on the M30 Chart and RSI(14) - they look very similar with big advantage to RSI that it has bounderies ...
so nina - I think if you use this Ind indicator for exit- better to use RSI ( which is the original formula ) and as well has bounderies.
What do you mean by scaling -- how to do that , as well how do you use TF5 for exit .. ?? I follow the entry rules, but still have issues in exit - if stick to stop and reverse will have days with -80 like the one shown before .. and if not may exit early and not capture the whole market move in good trades, so some more deep views & charts of how you exit will help us .. please don't issue the new system till we finish the current one with entries, exits and every exception arise in it.
better to use JRSX
Thank you to all for the Inverseind indicator.
Ader, 50ema is significant. But others will say that it is as significant than 21ema and so on. The point here is that we use 50ema with Step and both tools give money. BTW, a big pocket does not look at ema's.
I go always in with more than one lot, usually 5. Then, I close them one by one according to my confidence on the possie. Today, for instance, I bought cable at 1.7226. It made a high at 1.7248. I closed 3 lots at 1.7242 and I placed s/l at entry. The market is very thin.
Sold 5 lots on USDCHF at 1.3144. Made a low at 1.3108. Closed 4 lots at 1.3116. Placed stop at b/e for the other one.
Bought 2 EURUSD at 1.1842. Did it cause USDCHF was going down, price was above 50EMA and Step too. Made a high at 1.1866. Closed one at 1.1856. Placed s/l at b/e.
BTW, market is very thin, but CatFx50 keeps making money:
GBPUSD was a buy at 1.7226. Made a high at 1.7248 so far. +22 pips.
USDCHF was a sell at 1.3144. Made a low at 1.3108 so far. +36 pips.
Total: +58 pips
.. please don't issue the new system till we finish the current one with entries, exits and every exception arise in it.
Don't worry. CatFx16 will wait.
Plot Inverseind on TF30. Period 2. Set level 0.0.
Plot EMA 50.
What do you see?
Try to draw trends on Inverseind.
Are you going to use inverseind like confirmation?
What i see...
Red vertical lines you draw are entry signals. They are confirmed by Inverse indicator going under or above ZL. Also, Inverse is very similar to StepMA Stoch, but it gives us a little earlier signal.
We can use all three indicators - price goes below/above MA50, Inverse crosses ZL, StepMA Stoch crosses:
- if Inverse is positive and yellow line of StepMA stoch is above the Blue line, we only go long,
- if Inverse is negative and yellow line of StepMA stoch is below the Blue line, we only go short.
Also, as suggested, if we draw trendlines from peaks / valeys on Inverse, we can use the trendline break for exit (or even entry).
If you plot your chart as a LineChart, not as Bar or Candlestick, you can see that Inverse indicator is very very similar to the line chart:
(see image attached)