Rsi + 3 EMA ( Easy way to make mony at FOREX ) - page 3
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saeid:
I have made your idea as an indicator, I do'nt see it is working! I get 0 Buy signals and many false Sell signals, try the attached file.
Regards,
Hi Asimsh
thank you for indicator. some of the signal is happen after divergence on Rsi. so that signals have to ignor by trader. but i sow i wrong signal also.
look at the pic.
thanx.
Hi Adimsh.
i saw one wrong signal , but signals after Divergence on Rsi has to be ignor by trader, thank you very much for indicator.
the position has to be taken when the price tuch the 5 Ema and we shuld not wait for the Candle to close.
thanx
Hi, Valeo,
- what your RSI setting for other TFs(what about daily)?; also depends on pairs ?
rsi 14 signals - (8&14) it's like warning/confirmation?
thankyouHi FXBS,
I use RSi-8/4 on M5 and RSi-4/2 on all other TFs. Excellent results. I draw the 2 across the 4 and use the crossing as confirmation. See my Thread if you will.
Best wishes.
Hi ValeoFX,
Can you please refer me to what you called RSi-set-up? I am looking for such an idea a long ago.
Regards,Hi Adimsh,
You will find my Thread here:
https://www.forex-tsd.com/xo-method/5845-xo_method-revised-37.html
If you need any further advise feel free to contact me.
Best wishes.
Your comments plse............
Hi Saeid,
Please could you comment on your trades for the 16th and again yesterday so that we can all understand how you would have seen these trades developing.
16th September:
Kindly comment on the markers A - C as they did not meet your initial criteria. Did you do any trades for the day?
17th September (yesterday):
Where did you trade from, please.
I do appreciate your time.
Best wishes.
16th September:
Kindly comment on the markers A - C as they did not meet your initial criteria. Did you do any trades for the day?
Hi ValeoFX,
Looking at your chart and the then the rules according to Saeid, markers A and B fail to meet the criteria because both of the MA together are neither under or over the EMA and thus are not considered to be clear signals. Also, the market price doen't quite touch the upper MA.
Marker C is not a valid signal according to this system either because the RSI is on 50 exactly.
Looking at your 2nd chart, I presume that following this method, I would have gone long on the 5th bar from the right (white candle with magenta dot on top), and exited after a pre-determined amount, or a bar which is clearly over the upper MA and not touching it.
Studying Saeid's method, it looks very much like a secure method of trading, (provided you are not trading directly after divergences), but you probably wouldnt make too many trades from a single currency pair as the criteria is quite strict.
However, trading with an MA each on opposite sides of the EMA would result in using only the RSI with candle colour for entry signals and this has the problem of not showing accurate entry or exit signals, but with greater numbers of trades.
Indicator with alert on MA crosses?
Does anyone have an indicator with alerts on MA crosses please? Also, an RSI with alert would be nice too...
.
I'm still getting to grips with this MQL4 language, so if anyone can post the indi's as mq4 rather than ex4, then next time I might be able to program one myself...
Hi FXBS,
I use RSi-8/4 on M5 and RSi-4/2 on all other TFs. Excellent results. I draw the 2 across the 4 and use the crossing as confirmation. See my Thread if you will.
Best wishes.oh, yes, - RSi-8/4 on M5 and RSi-4/2
thank you, Valeo
Hi ValeoFX,
Looking at your chart and the then the rules according to Saeid, markers A and B fail to meet the criteria because both of the MA together are neither under or over the EMA and thus are not considered to be clear signals. Also, the market price doen't quite touch the upper MA.
Marker C is not a valid signal according to this system either because the RSI is on 50 exactly.
Looking at your 2nd chart, I presume that following this method, I would have gone long on the 5th bar from the right (white candle with magenta dot on top), and exited after a pre-determined amount, or a bar which is clearly over the upper MA and not touching it.
Studying Saeid's method, it looks very much like a secure method of trading, (provided you are not trading directly after divergences), but you probably wouldnt make too many trades from a single currency pair as the criteria is quite strict.
However, trading with an MA each on opposite sides of the EMA would result in using only the RSI with candle colour for entry signals and this has the problem of not showing accurate entry or exit signals, but with greater numbers of trades.hi, Limstylz
you sure 5-th bar, not next?
on white bar(6) rsi crossed 50 down; on next (green) rsi became >50
or you mean before bar close? (but then there is no way to tell (and backtest) what was where between close to close
how about entering on 3-d bar open (after 4-th bar close ensuring all conditions are met)? (not considering diver)
GO SHORT WHEN:
1. Rsi must be below the 50 level
2. both of high and low Ema 6 must be below the Ema 25
3. wait for the price to tuch the Ema 6 high and at the same time click to go short.
GO LONG WHEN:
1. Rsi must be above the 50 level
2. both of high and low Ema 6 must be above the Ema 25
3. wait for the price to tuch the Ema 6 Low and at the same time click to go long.
immediately we will get 2 position and place 45 stop for both of them and 30 pip tke profit for one position only.
when the first position TP hit. replace the stop to entry point.
Not: after the divergence we shall not inter the market with the followint retrace on Ema 6.You're right...
hi, Limstylz
you sure 5-th bar, not next?
on white bar(6) rsi crossed 50 down; on next (green) rsi became >50
or you mean before bar close? (but then there is no way to tell (and backtest) what was where between close to close
how about entering on 3-d bar open (after 4-th bar close ensuring all conditions are met)? (not considering diver)
Hi fxbs,
You are right, on the chart its the 4th bar. My eyes must be tired from testing this method!
However, if the 5th bar had touched the low MA before closing and not triggered the RSI less than 50 (which given the length of the bar and the relatively short RSI dip appears to be the case, and in forward testing I have seen the dip occur after I made a trade on an open candle), it would be a valid signal. You are right though, there would be no way to back test this except for visual method in the strategy tester, which is an extremely tedious enterprise. (I recommend using MT4BacktestBuddy if you are planning to manually back test this... i've attached it below)
But I have been forward testing and back testing this method since the thread opened and the correct way to trade this method and undoubtedly many others, is to capitalise on open candles.
Saeid mentions this in his rules:
3. wait for the price to tuch the Ema 6 high and at the same time click to go short.
3. wait for the price to tuch the Ema 6 Low and at the same time click to go long.
...which I have taken literally at his word and seem to be fairly profitable with it. It does mean that I am spending an innordiate length of time in front of my screen when I have a potential signal to enter or exit about to occur.
You could have entered at 3rd bar, but you would have lost out on profit. Timing (albeit however slow on longer time frames) is still everything.
As mentioned in my previous post, don't expect this method to produce lots of trade signals because it doesn't, but it does seem fairly safe to me and I will probably go live with this in the next couple of weeks after testing a few more currencies.
I probably wouldn't use this as my main trading tool as I prefer more action and this is a little bit like watching paint dry... whilst waiting for water to boil... on a long plane journey with no inflight entertainment... but definately more profitable.
NOTE: Sorry, I can't upload mt4backtestbuddy as the attachment window keeps timing out. Its on Forex-TSD under manual trading systems