Rsi Ea - page 9
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Thanks for that. There is something weird going on for sure. I have just backtested on demo account and RSI trade is correct. Also, I just sat for awhile on forward testing an demo, and also, RSI trade was placed correctly. But as I said, on my two live alpari accounts the buys were made when the minimum of every bar in sight was a bit above 29RSI, and the trade was taken even though I had set longs below 26 RSI. I am not using "longCloseAbove" and shortCloseBelow", just take longs below 26 and a take profit. Nothing else. I am pulling my hair out a bit. I will wait and see how the settings I now have set (23 on one and 26 on the other). As crazy as it sounds, it looks like when trading live accounts on Alpari, you must set the RSI 3 points below what you want.
If you were using 0 for the rsi bar that should be tested, then it can happen. Since bar 0 would mean that opened bar was tested, then it is not uncommon that the value crosses the desired level and then retraces. But if the bar was > 0, then it should not happen
If you were using 0 for the rsi bar that should be tested, then it can happen. Since bar 0 would mean that opened bar was tested, then it is not uncommon that the value crosses the desired level and then retraces. But if the bar was > 0, then it should not happen
Ok. The 'bar' setting is at 0. But it was zero on the IBFX account as well, which did not take the trade at the 29 rsi like the Alpari accounts, when it was set to 26 rsi.
Not too sure what you mean by, "the value crosses the desired level and then retraces". If the desired level is what I set for opening a trade, which was 26. According to the chart it never got below 29.186. Or am I missing something, in that it can go to the 26 rsi, and not show up on the data or the RSI oscillator window?
Thanks very much for you help on this.
Bill
Ok. The 'bar' setting is at 0. But it was zero on the IBFX account as well, which did not take the trade at the 29 rsi like the Alpari accounts, when it was set to 26 rsi.
Not too sure what you mean by, "the value crosses the desired level and then retraces". If the desired level is what I set for opening a trade, which was 26. According to the chart it never got below 29.186. Or am I missing something, in that it can go to the 26 rsi, and not show up on the data or the RSI oscillator window?
Thanks very much for you help on this.
BillBill
The values of the rsi can be different for different brokers (it is nothing uncommon)
As of crosses and retraces : if you are testing an opened bar, at some point it can have value that is crossing the level and at that same bar, some time ago, it can have value that is not crossing that level any more. On such signals, if you check then in the hindsight, it seems like they were wrong signals, why they were a valid signals at some time. Better to use closed bar (bar 1) instead
Bill
The values of the rsi can be different for different brokers (it is nothing uncommon)
As of crosses and retraces : if you are testing an opened bar, at some point it can have value that is crossing the level and at that same bar, some time ago, it can have value that is not crossing that level any more. On such signals, if you check then in the hindsight, it seems like they were wrong signals, why they were a valid signals at some time. Better to use closed bar (bar 1) insteadThanks.
I just had an opportunity to see the EA take a trade on my live Alpari account in real time. And it took the trade at the exact RSI. So, it must be that I was observing after the fact and the data was not there anymore.
I would like to keep using bar = 0, because in backtesting there was a larger profit, using 0, but I don't know if that would translate to live trading.
The problem with testing/using on open bars is that you risk a lot of false signals. That is the main reason why usually first closed bar is tested for signals - on a closed bar there will be no change of signal
Yes, I see that. I have just looked back on the MT4 to where I was watching earlier, and found it says the RSI went down to 18. But I was monitoring the actual dip at the time, and the RSI went below 16 RSI. So in testing using the bar=0, there will be some discrepancy between the historical RSI reading and the actual, as I observed. Will using the bar=1, make the testing closer to real, than using the bar=0?
Yes, I see that. I have just looked back on the MT4 to where I was watching earlier, and found it says the RSI went down to 18. But I was monitoring the actual dip at the time, and the RSI went below 16 RSI. So in testing using the bar=0, there will be some discrepancy between the historical RSI reading and the actual, as I observed. Will using the bar=1, make the testing closer to real, than using the bar=0?
It will avoid false signals and I think that it is the most important
Usually it is considered a much better practice to use signals on a closed bar (for example, in the STAD (Omega Research System Trading and Development club) books of trading systems, I have never found a single trading system that uses an opened bar signals, and those guys really spent a lot of time in testing almost all the possible ways of trading)
Sounds like good advice, thanks. My only thought (which I have no real idea about), is that the closed bar will come after the event that caused the rsi to fall, i.e, the price dip. And by the time the closed bar comes about on the hourly chart, the price might have moved way up, and I will be buying at a higher price than the bar=0.
It will avoid false signals and I think that it is the most important Usually it is considered a much better practice to use signals on a closed bar (for example, in the STAD (Omega Research System Trading and Development club) books of trading systems, I have never found a single trading system that uses an opened bar signals, and those guys really spent a lot of time in testing almost all the possible ways of trading)
mladen
Where can we find STAD books?
mladen Where can we find STAD books?
They used to have a web page for that, but it was closed a couple of years ago. I am not sure why did they do that (at those times it was even a free access to all to download all those books, I do not know what is the status of the books now - that is why I am not posting them here - omega knows to be rather "strict" when it comes to something they own).
All I can advise is to search the we (look for "stad01.pdf" up to "stad13.pdf") and you will find them. Worth reading