Quote:
Originally Posted by FerruFx
Hi all members,
Here's a very simple setting which I want to share. Those who like clean charts would love it!
Standard indicators used:
- Stochastic (5,3,3): red line (only main line)
Entry Signals: when RSI line has a clear break and goes in the Stock direction.
Filters: both lines must point the same direction before the clear RSI break and the Stoch not in the overbought/oversold area.
The exit strategy has to be find but a simple TP/SL/trailing will catch some good pips.
I didn't trade it yet, just come across this setting recently.
Hope you will have fun with it!
FerruFx |
Hi.
Thanks for the time taken to share this. Really does look nice, but the points where you put your arrows don't seem to show only breaks; i think some were also just crosses. Did you actually mean "crosses"?.
I do also envisage a little problem with identifying the crosses/breaks and filtering them from false ones as you tried to point out: subjective interpretations. The rules of breaks don't look well spelled out. If i knew how to re-post charts, i'd have done so to point out other breaks you didn't see which were similar to your rules but turned out wrong.
Sorry if i sound like a critic; i only wish the rules/filters were clearer.