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I managed to code these rules for entry (not the exit rules). I used another EA as template (MagicRSi).
It seems to work best in M15
fell free to test.
Hi rarango.
I just downloaded your ea, but seem to be having a little bit of trouble with it.
I have added it to a 15min gpbusd chart but it only makes one trade for a whole year. Could you please have a look at it in case I am doing something wrong.
Hi,
I managed to code these rules for entry (not the exit rules). I used another EA as template (MagicRSi).
Thanks, rarango, that's a good start. But with the EA you provided, I think there are some "missing" criteria that needs to be fulfilled, before a BUY order and subsequently a CLOSE order, can be made.
Here's the entry point, for BUY:
I use RSI-5 and RSI-14
1H time frame
When the value of RSI-14 go lower than 40, then on its way up, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-15, when it crossed at the close of the candlestick must have a difference of 5 points or above.
To close the BUY position, wait for RSI-14 to reach 60 level or above. Then wait for the RSI-5 to cross it on its way down.
In the EA, to BUY, I just see the value of one RSI needed, instead of 2, waiting for them to cross? The same with closing the trade.
To avoid confusion, maybe another EA is needed to do the SELL and CLOSE too.
Quote:
Originally Posted by Trader83
Hi, Pinggarcia! Thanks for sharing your system! Could you post a screen shot of the terminal with the signal for entry?
Thanks!
I don't know how to do it, but look at these "time" for EURUSD, 1H time frame, GMT setting
BUY 11May2007 (0200H) - 1.3481
CLOSE 14May2007 (0600H) - 1.3533
Strictly speaking, since the candle on 11May2007 (0100H) closed with the same value (decimal points are neglible), we wait for the next candle's closing, and see that the difference bet the value of RSI-5 (48) and RSI-14 (35) is way over 5 points, and the RSI-5 crossed over RSI-14 on its way up.
I have attached the RSI Crossover template for your guide.
Last edited by Pinggarcia; 05-16-2007 at 09:32 AM.
Here's the ea which I based off another template - I did a quick test and it follows your example in the previous post exactly. The EA also has a breakeven function (unfortunately doesn't work with trailing stop (still learning the basics), but does work with SL) as well as a money management function, and can initiate trades during specific times of day - all pretty simple, but still worthy of a look.
Best of luck and thank's for sharing your strategy!
Mike
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The logic for Rsi values are set based on the rsi 14. that means that for buy: rsi 5 is above rsi 14 by a certain value (5), rsi14 is on its way up in relation with two candles before and rsi 14 is bellow the buyrsi value(40).
I think it is following the rules exactly. please check in live testing.
I just downloaded your ea, but seem to be having a little bit of trouble with it.
I have added it to a 15min gpbusd chart but it only makes one trade for a whole year. Could you please have a look at it in case I am doing something wrong.
The one trade it it make was very nice.
Cheers
Basza
basza,
I only checked with Eurousd. Try changing the buyrsi and sellrsi values
The logic for Rsi values are set based on the rsi 14. that means that for buy: rsi 5 is above rsi 14 by a certain value (5), rsi14 is on its way up in relation with two candles before and rsi 14 is bellow the buyrsi value(40).
I think it is following the rules exactly. please check in live testing.
I can add values for rsi 5 also if you want.
Ok, thanks! I dont know how to back test. And somehow, checking my manual testing, BUY seems to be doing better. Anyway, can you please see if the automatic back test for the month of April yielded the same results?
Here's the ea which I based off another template - I did a quick test and it follows your example in the previous post exactly. The EA also has a breakeven function (unfortunately doesn't work with trailing stop (still learning the basics), but does work with SL) as well as a money management function, and can initiate trades during specific times of day - all pretty simple, but still worthy of a look.
Best of luck and thank's for sharing your strategy!
Mike
Thanks for the EA too, but how about the provision to CLOSE the trade?
Besides, to BUY, we need the "close value" of the candle at the moment it closes, while the RSI crosses on its way up with a difference of 5 points.
I can see there's a "trailing stop" option in there, not working?
Linear Mode
