I am reconsidering your RSI idea. After trying some RSI indicators that overlay the chart, It looks very busy, but very helpful for training King traders. I shouldn’t have discouraged anyone from using it.
The Gravity indicator provides the thin green and red lines that show the upper and lower RSI. The candles that break through the upper red and lower green look to be superior signals.
It could provide more confidence, and that is important.
One more green candle and I can hit the treadmill and weights for the day
Finally got the right screenshot.
4-0 this morning.
Nice day.
Only 46 pips, but its going to be a long day on the road and I can’t get caught in a trade that takes an hour or more before profitable.
Another 40 pips if I hadn’t closed.
Am I mad…NO!
Take the win. You nearly always win. Rack up wins, not perfect trades.
Hi. Watching with interest.
Can you tell me the settings for the channels indicator in your latest screenshots? Is there an indicator that show these channels in trading view? Thanks
Hi Blackie,
Indicator:
Channel Cross settings remain EMAs 32High, 32 Low 14 Close, 6 Close
PSAR 0.009/0.07
PSAR Crossover settings: EMAs 25 Close, 150 Close. PSAR 0.0009/0.015.
Please note that my latest screenshots are not the Channel Strategy. For the past 5 or 6 days I’ve been using a Counter Trend strategy.
4-0 40 pips.
Looking for 100 today.
Edit: 6-0 50 pips.
Thanks. I can see the link you provided but when I search for the indicator in TV, I cannot see it. Not sure what I’m doing wrong
Looks like you’re on fire today, 6-0
Sorry, I know the link to the indicator is in the thread. I don’t use Tradingview so I don’t have the indicator either.
I’m at 8-0 now. A bit over 60 pips. Waiting now for either a good countertrend signal or after high impact news in an hour and a half.
Am I correct in saying that the arrows are valid signals? I’m struggling to understand where I would enter. (based on the original settings in the first post)
Yes, I would say those are valid signals. The one signal that the indicator did not account for, however, was the big one on the far left. When the yellow comes down to the top green and then bounces back up that’s a great signal. But it’s not accounted for in the indicator.
You would enter when the yellow EMA crosses over one of the green 32 EMAs or below one of the green 32 EMAs. You can also use the white EMA if it crosses both green EMAs.
Please keep in mind that I have never used the indicator. I am on mt4 and the indicator is for trading view. For me, this is manual, active trading. But I do think we have traders here that are successfully using the indicator and I am so glad it was made for us.
@AmericanTrader This is actually MT4 moving averages. I added the arrows hoping to confirm I was looking for the right thing!
Technically, yes. There is debate as to when its a good signal or a bad signal. If it takes too many candles to cross both 32s, its probably not a good signal. The debate is ‘How many candles is too many’.
I honestly don’t think I’ve ever used the 6 ema signal. Can’t \remember using it anyway.
Most days there is a good trend or 2 or 3 using the 14.
Great advice. So simply sell when the yellow crosses top to bottom on the upper green, and buy when the yellow crosses bottom to top on the lower green? If so I will try these rules and just remove the 6 ema to simplify
Sure.
The 6 was added to try and establish an exit from the trade. It just happens that watching charts for weeks I noticed some good signals came from it.
