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Anyone using/testing this ICWR thru EA or thru manual?
For every entry, (m5 based ), if we consult the Daily RSI(14), the no of trades or possible trades are very few since the Daily RSI takes longer time (more days) to come from bull to bear or vice versa if it is at the 30 or 70 levels.
This means very few possible trading opportunities?
Anyone has similar/different view on this?
TIA
Kent.
RSI will keep you in the correct daily trend. I only want to take trades that will keep me in the market for a few days and rake in as much pips as possible.
Alex,
It is hard when all we can do is say thanks, even worse when we have request. But I am really impressed with what you have done with this indicator. There is one thing I would like if it would work. That is to have the fib values in the chart shift area. To some degree a mute point with the boxes but I would still really appreciate them if it would not be a lot of extra work. That is from a non programer who is totally impressed.
Thanks again for all your hard work on this,
Ricky D
Anyone using/testing this ICWR thru EA or thru manual?
For every entry, (m5 based ), if we consult the Daily RSI(14), the no of trades or possible trades are very few since the Daily RSI takes longer time (more days) to come from bull to bear or vice versa if it is at the 30 or 70 levels.
This means very few possible trading opportunities?
Anyone has similar/different view on this?
TIA
Kent.
Kent,
The RSI is used based upon the -50- line not the 30 and 70 according to the rules. Long if above the 50 and Short if below the 50.
I have found a bug if drawing trendlines and then change period it erase the trendlines, and as i can see rsi is looking at daily chart it also change values of the rsi if changing periods. Nice work
My wish list is custom timeframe switch ( selectable timeframe to look at on all periods)
Kent,
The RSI is used based upon the -50- line not the 30 and 70 according to the rules. Long if above the 50 and Short if below the 50.
Quote:
Originally Posted by TimeFreedom
RSI will keep you in the correct daily trend. I only want to take trades that will keep me in the market for a few days and rake in as much pips as possible.
Ricky/TimeFreedom,
Thanks for your replies.
1.I agree there are more pips in trades which confirm thru 50/50 of RSI. Even at entering a trade confirming with 50/50 rule, sometimes your trades get reversed quickly. The 50/50 confirmation is only required for entry. But even after a valid confirmed entry (RSI), if a reverse signal comes in M5, we have to get out as per the ICWR rules. So minor whipsaws may reverse a good entry. What do you all think?
2. But assume the RSI is at 65 and u get a bull signal based on M5 on ICWR rules. Do You think you will still get good pips even RSI is at close to its reversal level? (70).
Alex,
I have noticed when the indicator refreshes it "eats" my Pivots or any other thing I put on the Chart Window. Interesting!!
I tried doing some text on the chart and it ate it faster than I could get it done. Then I noticed my pivots were gone also. Put them back on and they were gone in a moment.
Linear Mode
