Hello,
Just wondering whether or not anyone has experience with the Indicator TSI ( trend Strength Indicator).
Personally my strategy with this indicator is whenever TSI crosses above +10, then Long. Whenever TSI crosses below -10, Short.
This strategy helps filter out chanelling market conditions and helps you focus on the bigger trends.
If anyone can give me feedback, I would greatly appreciate it. If you have anything to add to this strategy, please feel free to do so.
Thanks
fruitfly…i can’t find the TSI on my MT4 platform…is this similar to RSI?..i have a very simple moving average strategy maybe we can combine the two indicators.
im using ninjatrader so im not sure bout mt4. I also forgot to mention that this strategy works best omn the 60 min charts.
what is ur strategy, id love to hear it.
on average this strategy produces 30+ pip moves
it’s supper simple really, I buy when a 4H candle closes above the 21 EMA. draw a 21 EMA on a 4 H chart on the EUR/USD chart and you’ll see what I mean. about 17 candles ago the 4H candle crossed the 21 ema. not sure how to take profit.
does your method produce 30 pips a day?
One of your exit criteria could be when the Price crosses the 21 EMA once more.
You could also try and use a trailing stop. Trailing stops are extremely useful and help you lock in your profits.
Another way you could signal your exit is by using candlestick patterns. When there is a candle stick pattern signalling reversal, then you exit.
Just some ideas i thought id throw out there.
Im not at my charts at the moment but I sort of get the idea of your strategy.
Ill check out the strategy when I get back to my charts
My method produces around 30 pips a day. max it has ever gone is around 60-70pips
If you want to see TSI for yourself there is actually a site on which you can download the indicator from. Just search for TSI mt4 and its basically the first link.
Glad to see someone is experimenting with the TSI. I had discovered it through a different forum. Personally I have been using it to signal reversals in Crude Oil in conjunction with S/R levels and trend Channels. CL is great and respects trend lines and channels very well. Maybe try a longer setting of 6, 25 to reduce fake-outs when the line reverses. You may also want to try tick or range bars as well, it greatly reduces the volatility bar-to-bar which makes it easier to catch a divergence move. I will definitely give your strategy a try!
fruitfly i was able to get a free on for my MT4 platform…what time frame do you trade it on to gain your 30 pips. does it work equal well on all pairs.
I use it on the 60 min charts. It works reasonably well on the majors. It only really produces 30 pips when the market is trending. However there is obviously the odd loss and bad trade, which is why I would like to hear from the forum so I can improve or even just ditch the strategy in all.
I am using TSI with settings 3 and 14 plus im using heiken-ashi charting to help and aide with decision making.
As i said, I just came up with this strategy so it probably has its flaws. It only really makes 30 pips and over in trending markets.
The Indicator is great,so i thought id ask the community if anyone knew of any strategies related to the indicator.
In terms of whether or not the indicator works on all pairs it works ok for all pairs, as far as my knowledge. It works great on the Euro. Also the -10 and +10 values may change for different pairs, to ensure that profitable signals are generated. Also, make sure that you pull up heiken ashi, it really helps make things clearer.
Again if you could give me some feedback, I am open to it all.
Thanks.
Thanks for sharing your thoughts!
I will try and tinker with the settings to see if i can get better results.
I think I will stick with heiken ashi candlesticks. I am used to trading based on time intervals.
Again thanks for sharing your ideas, greatly appreciated.
Arite, here are the pairs that I think make the most money.
EURUSD, GBPUSD, GBPJPY, USDJPY
It works occasionaly on AUDUSD, NZDUSD, and USDCHF
check it out
leave some feedback
EDIT: whoops looks like on the yen dollar chart i made a mistake. Ignore the second entry point, it is not a valid entry point according to the strategy
Fruitfly
I’m sure you can get this coded into a robot fairly simple…I used to know a guy that did a few indicators for me, let me know if you want me to see if he do this for you, i’ll try to find his old emails…he charges very reasonable rates.
pipbuller, I am actually fairly knowledge in the field of programming. ive actually done some strategies on my own.
if I needed it programed, id do it myself. thanks for offering anyways.
wht I need to figure out is an exit strategy for this thing.
if u have any ideas, send them over. in the meantime ill try and figure it out.
thanks for ur offer anyways
How about this for an exit strategy, when the 3 EMA crosses the 5 EMA…draw it out and let me know what you think.
yeah 3 and 5 EMA seem way too small. Im going to experiment with other values.
