Hello all,
I have a manual system that I've been using for a few years now. It works great, but only during the earning season (Oct thru May). Since Oct is almost here, I figured that I would share the basic idea. Please share any ideas or improvements. Opinions are always welcome.
Basic Idea:
I'm using a modded MA indicator to generate the signal and I'm using an RSI mapping indicator (originally coded by Lq_sunshine, I just tweaked it a bit) to filter/confirm each signal.
Green arrow + Green RSI = Buy
Red arrow + Red RSI = Sell
After entry, when the RSI turns gray (or opposite color) close position.
Important notes:
- Make sure to select the RSI currency pair for each chart (EURUSD is the default) - this was fixed, just leave blank for current chart
- Wait for the gray (or opposite color) bar to close before exit, the RSI can repaint a bit, so sometimes the colors with flicker green/gray or red/gray. Just wait for the current bar to close to confirm color
This system is designed for a 1 hour chart, but you could probably tweak the settings to work with any time frame.
