Quote:
Originally Posted by Ingot54
Hi Dale and other enthusiasts-soon-to-be-wealthy! l:^))
I have sumarised your system Dale for easier reading (just my view) and to make it easier to print out. Hope you don't mind. I think this is an extraordinary thing you have accomplished here - not without pain either.
I think there is a bit more room for refinement eg limiting the signals to either RSI or Stochastics but not both. This would give you simpler charting set-ups (more screen 'real-estate' to view) and I do not think it would affect profitability much ... if at all.
Anyway, while it has not been declared 'finished' officially, there may still be time for me to muddy the waters (heh heh):
Dale’s Daily PSAR
bars) AND are still above 50.
MACD has crossed down.
Akram's 'Alligator' lines are NOT intertwined (or 'look' like they are changing direction). i.e. at very least the 'lips' (or green line) must have crossed the 'teeth' (or red line) and the 'jaw' (or blue line))
ADX is equal to or above 20 (and/or ADXR must also be above 20)
Additional guidelines:
Don't base 'entry' on RSI and Stochastics - but base your 'non entry' on RSI and Stochastics. ie - If RSI and Stochastics are NOT at their limits then take the trade.
Put another way: - If RSI is above 70 and Stochastics are above 80, a PSAR entry signal to go long then that trade would be a disaster.
And vice versa: A PSAR entry signal to go short when RSI is below 30 and Stochastics are below 20 would be foolhardy.
As long as RSI is between 0 and 50 and Stochastics are between 0 and 50 - with both pointing up preferably - then take PSAR entry signal to go long - and if RSI is between 100 and 50 and Stochastics are between 100 and 50 - with both pointing down preferably - then take PSAR entry signal to go short. This would increase the number of 'valid' trades.
This will certainly limit the number of trades available - BUT - if all of the above criteria are met – it is almost 100% sure that the position is a 'winner'.
I did see your earlier comments ... yes we do have Captain Morgan here in the antipodes, but in limited supply - the locals keep drinking the stuff - we have been experiencing severe drought here, and we are saving the drinking water to wash in ... for as long as the rum lasts!
With best wishes
Ingot
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Thanks for input.
I am just wondering what parameters(numbers) do you use for these indicators.I don't know if there is any post somewhere to tell me about that.
Thanks
Mike