Just thought I would throw this one out there.
Setup a 20,2 Bollinger Bands.
Setup an RSI 14-day
Long ONLY when:
When the RSI drops below 30, the RSI drops below the ‘Lower Bollinger Band’ and when the Price drops below the ‘Lower Bollinger Band’.
This is an hybrid of a system I saw posted(on a major forum) by an “FX Instructor” and the Fozzy.
What would this work in general? Why? Why not?
What would you change?
As you can see I am a bit of Technical Analysis junkie.
Hi, thanks for sharing this - what timeframe(s) suit this best, do you think? Do you have any performance stats?
Hi,
Sorry to ‘take the wind out of your sails’ but I don’t see how this can ‘fit together’ on the same chart and therefore work.
I’ve just had a look at the Dow and added the indicators as per your post. In your example the the MA WILL NEVER move below the Lower Bollinger Band (or above the Higher Bollinger Band) for the simple reason that the 5 (or 7) MA is reacting much faster to the price action than the Bollinger Bands UNLESS by ‘Lower Bollinger Band’ you mean the ‘centre’ MA in the Bollinger Band. In other words you go long when the 5 (or 7) MA crosses the centre Bollinger MA and the opposite for short. THIS appears to have some merit bur I’d strongly suggest you work out a way to place your stops (maybe if long your stop is the Lower Bollinger Band and the opposite if short).
RSI does not seem to ‘come into play’ anywhere here at all e.g. on the Dow I see RSI WELL below 30 BUT the price continued to fall for days and days before reversing. Also RSI is measured on a totally different scale from price i.e. RSI is always between 30 and 70 regardless of the actual price.
Anway - if I’m not understanding you correctly - I apologize - and a chart of what you’re trying to say may help. If, on the other hand, I am understanding what you are saying then I’m afraid I dont’ see how this can work in any way, shape, or form.
Thanks for the reply, I have revised this “strategy” to reflect what the 2 articles said a bit more.
Let me know what you think of those 2 articles.
No problem - only thing is - I don’t see the articles to which you refer.
OK- NOW I see the articles to which you were referring.
I’ll say this: I’m impressed now.
I hope you don’t mind but I am going to put a link to your message from my ‘Parabolic SAR- that’s all!!!’ thread on this board as it really fits in very nicely with what we are trying to accomplish on that thread. Maybe you should have a look over on that thread as well. What I like very much about what you posted was the entry points (which is a problem with Parabolic SAR).
Just remember (maybe you already know this) that the RSI / Bollinger Bands to which they refer in your links are ‘modified’ i.e. the ‘standard’ RSI and Bollinger Bands would not work as I stated earlier but after modifying them I can now see what you were getting at. Very nice. Try it. I sincerely hope it works for you.
I did not see anything about a moving average and Bollinger Bands though. Was that another ‘system’ or what?
GregXiu:
Dale here again.
I wanted to have another look at the ‘RSIBOLL’ indicator that you posted about when you started the thread and I found it on the links that you posted BUT the links have been removed AGAIN (by the administrators I think) so could you please post the links again (or rather not the ‘actual’ links but sort of ‘spell them out’ so that I can put them into my brower and go to the sites OR could you email the links to me at [email protected].
I wanted to get down and ‘code’ the ‘RSIBOLL’ indicator but now the links are gone and Google does not take me to the same pages as you posted.
Hadda look at this…interesting.
Took this screen shot just now…a random 30Min screen.
Like i say…interesting.
I put the Slow Stochs in at 14, 3 just so i could understand this better.
490 PIPS in 3 days of trading…and just on U/J 30Min…did i mention this was interesting? lol :rolleyes:
Could somebody (dpaterso?, GregXiu?) post the page links back…?
I would be quite interested in having a look at this. Can’t quite make out the strategy at the moment.
Thanks.
OK - well - last night - I found the (main) one that I was looking for:
forex.gftforex.com/public/item/169157
(I’m sure you know that you have to put the http and the colon and the two forward slashes into your browser in front of the above line and there is no www only the http, colon, forward slash, forward slash and the above link)!!!
What a mission!!! (In all fairness though the administrators don’t like links to other forex sites because those sites can ‘linkback’ to this and I believe it can cause problems with spam and stuff).
I created the indicator last night and it looks good so far. I want to finish or my ‘Parabolic SAR re-code’ and then see what happens.
OK - done.
Problem though: I don’t want to keep ‘cross posting’ etc. etc. etc. so if you’re interested in ‘RSIBOLL’ then take a look at my message (with examples chart) on this thread:
It was for Parabolic SAR that I was wanting this indicator so I think it belongs on the above thread.
Thanks dpaterso, the article is food for thought and I like the idea of using Parabolic SAR for stops.
I’ll take a look the indicator.
I’m still looking into the “original” method that this came from - very interesting.
