Hi, I am currently using online demo account at my broker, and I cant change the RSI to be applied to the median price, can I still use this system than or is that absolutely necessary? Thank you
Hi, looking the the reviews, there seems to be an issue with āno labelā text showing up?
Hello ForexPhantom,
I understand your system and wanted to try it out.
Just needed to know what the monthly return would be from your experience? Can it used on any pair?
Any other recommendations?
Yellow, will you publish your results?
I think this ea looks similiar to this system
1 Like
hiya @Dimu
the developer of HLHB claimed that her strategy is a version of this AmazingCrossover. So yes. The issue with EA is I donāt know to develop in MQL4 or MQL5, and I donāt know which one to learn professionally. Developing a nice profitable system need thousands of lines of code. The issue is lots of these EAās will cause loss. I have seen many guys invested 100K in EA and they lost. There are examples in this forum also some other forums(just search with your favorite search engine), and you see the loss cases.
Also, itās difficult to develop a logic for everything, something that I see in the charts, I canāt put it on the EA successfully. There is a possibility that server-side run it with fault, even if you develop the accurate EA. ?
Tnx
Can I use h4 time frame for this stratergy???
If you read the original post again, youāll see how he emphasized on the 1-hr time frame. This strategy is for short term trades. Itās designed to make you profit on a daily basis. If you use it on the daily time frame, it canāt bring you profit on a daily basis.
Iāve poured through at least a 3rd of all the threads, the only question that Iāve come up with is once all the conditions are set to buy or trade am I waiting on the close of the candle or the moment they meet my criteria
well said , cant agree more.
Consider using flexible SL/TP, not Fixed pip. market condition changes always. e.g. using ATR is useful in this category.
Do you have all the statistics of this strategy to show?
i will use this strategy.phantom strategy
I REPLACED RSI with stochstic(10.3.3) and applied it to daily chart.because stochastic show tops and bottoms accurately.i used 1% lot and 25 pairs.will show result soon
Have been reading this thread and see people keen to find confirmation indicators and Stop Loss indicators.
There are many indicators that essentially do the same thing - indicate the same thing, but are not smoothed.
And the whipsawing of indicators like RSI can create trading fog and frustration.
I do not know how to upload a chart on Babypips, or upload a MT4 indicator for you.
But here is a link where you can download the Relative Vigor Index - RVI.
It works on MT4, despite the MT5 mentioned in the URL.
I use it on 4H and Daily with a setting of 7, compared to the default setting of 10.
I am sure a bit of experimentation will lead you to settings that are right for your own needs.
Hint: I like to simultaneously observe MACD so that I really do have strong confirmation to enter, or evidence to stand back until that confirmation is there.
If I could upload indicators, I would give you my customised MACD too.
I canāt remember where I found it - will search for that URL.
*Cannot locate the MACD_EMA but if people contact me by private message, I will email back the indicator set.
Itās nice to be able to say that in hindsight, this trade went on to make 100 pips at close of market.
Yet even while pointing out the hindsight factor, the attached chart does show that an entry was clear, and traders acting on the indication (as well as the big green impulse candle which triggered the trend) would have those 100 pips.
Price moved from.6756 to 06856 or 100 pips in 2 days.
Nice donāt you think? Just trade the trend, but be ready for the failed trades.
Thatās something all of us need to know how to handle.
While I am here - impulse candles can be read in different ways, in my view.
If they happen at the bottom of a trend, they are a powerful indication of a likely rally.
Vice versa of course if they happen at the top of a trend.
Traders need to look at news as well as charts - just another factor in the tool-box.
Sometimes an impulse candle will happen-mid-trend, with little supportive news or other indication.
THEN it is likely that railroad tracks (the next candle falling just as sharply) set up, and the trend can usually run in the direction of the second impulse candle.
If you have a 4H impulse candle up and the next 4H candle down, what would this look like if combined to form an 8H candle? Answer: an excellent pin bar, and we should already know the probability of what that indicates.
This thread has been going for 11 years. I havenāt seen much interest in keeping it going - occasional posts here and there.
But crossovers in all their forms (Moving Averages, MACD, Stochastics) have always interested me, and used on the higher time frame charts can be the change your trading needs to become successful.
What you do need to become a profitable trade, is time looking at charts, and a good strategy.
It can be as simple (and complex) as Price Action (not my thing on its own) or a few indicators (such as in my charts).
But one thing success depends on, and that is YOU HAVE TO TRUST YOUR INDICATORS AND TAKE ACTION WHEN THEY TELL YOU TO.
Thanks for your time.
Depending on interest, I may or may not continue with more charts.
3 Likes
Have started a Journal here to discuss this kind of trading with filters to ensure trend:
I donāt have an option to set my RSI specifically for median price. Just to 10. Is this OK?