May I know what is the period setting for RSI? thanks!
I use a 5 period RSI with the the oversold and overbought levels at 35 percent and 65 percent.
Let me know if I can help with any other questions.
GJ
Does someone have a link to download the Donchian channels, one that especially has the middle line? I have Googled it but all I seem to get is the code.
Donchian Channels_middle_line.zip (2.68 KB)
greg said he couldn’t open this file. see if you can get it.
Thank you. I am not at my desktop right now but when I get home I will try your link. Thanks again, dobro
Also, try a search for Price Channels. They don’t have a center line but work the same.
GJ
Pipwolf, very nice trade. You are able to wait for the best opportunities.
21 pips
19 fo 22
300 pips
-23
19 of 23
277 pips
Hit a nice one and lost one. It has been a sideways week.
GJ
Thanks Greg for a what looks like a nice profitable way to trade. Here is a recent trade on the USD/CAD 4H chart for +36 pips!
I think the 4 hour chart works out very well. You exploited this set very well in my opinion. Very nice trade.
This method is not complex, in my opinion just works and produces pips if the trader can wait for the best set ups. I hope you stay with it and share your trades. It is good to see it used so effectively on another currency and longer time frame.
GJ
26 pips
21 of 25
323 total pips
A good start to the trading week with this short trade on a 5 minute chart.
GJ
Note the same trade on a 15 minute chart. When I was searching for the set up I went to a 15 chart first. I could see the retracement to the short but the RSI was not bverbot enough. I shifted to the 5 minute and the RSI was overbot indicating that the 10/20 trade was set up. I left the oval on the RSI from the 5 minute char to show the difference between the 5 and 15 minute charts.
Trade update. I bailed on this trade at 5 pips. I did not like the drop off in the S and P futures.
GJ
We all have our favorite indicators because we have used them in the past or are using them now. Greg - would there be an appreciable difference between Boll. Bands and the Don.? I am just used to BB and can interpret them better but the Don. are called for here. Comments pls. D.
dobro,
Ah the Bollinger Bands are back. I say they could work very well. Do you think the BB’s will give a directional signal the same as Donchian Channels? Take a look at the sample trade. In this case it would appear that the BB’s work in a similar fashion as the DC’s. I personally like the linear form of the DC’s in setting levels, but the BB’s should serve the same purpose.
Please share a trade with the BB’s.
Thanks,
GJ
