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Clean chart set up
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:
![]() ![]() 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
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THE HEART of FOREX & THE PROBABILITY METER - Trade with 100% confidence and ... Stress Less!!! Coding services: Experts Advisors, indicators, alerts, etc ... more info by PM NEW: video presentation of the Probability Meter ... 24hrs action on the website Last edited by FerruFx : 05-02-2008 at 09:57 AM. |
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Nice, ... but ...
Quote:
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. |
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Don't be sorry. We are all here to discuss.
By "break" I mean when the RSI change brutaly is direction and is close to the Stoch line. Cross is not necessary but will be close. I pointed on the pic an example of false signal: when both lines move together and cross smoothly. Keep in mind that I didn't claim that there won't be loser. This post is just starting and all suggestion and remark are welcome. Thanks for your interest. FerruFx
__________________
THE HEART of FOREX & THE PROBABILITY METER - Trade with 100% confidence and ... Stress Less!!! Coding services: Experts Advisors, indicators, alerts, etc ... more info by PM NEW: video presentation of the Probability Meter ... 24hrs action on the website |
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Looks very nice!
Thanks for sharing your idea FerruFx. Can you please post your template?
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Quote:
FerruFx
__________________
THE HEART of FOREX & THE PROBABILITY METER - Trade with 100% confidence and ... Stress Less!!! Coding services: Experts Advisors, indicators, alerts, etc ... more info by PM NEW: video presentation of the Probability Meter ... 24hrs action on the website |
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hi.this is my first post in forex-tsd forum. excuseme because i don`t know english good.
thanks ferrufx for sharing. i use it but by different model and use bollinger bands for hope to enter ant exit. |
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Hello FerruFX and friends here, give me a try to give another clear chart.
1. BollingerBands with period=20 ; deviation=2. Color Black with middle line Peru color. 2. Simple Moving Average period=5, Apply to Close. Red color. 3. RSI period=5, Apply to Close. Blue color 4. in RSI window, please add Simple MA period=5, Apply to "Firs Indicator's Data". Red color. May be this will be clear entry for you. For more understanding, please see the chart. Vertical Blue line is entry conditions. ![]() |
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