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Hello everyone,
I have read through many of the forums on this and many other sites and did not find anything that exactly matched my idea so I was hoping you could all take a stab at it. I am currently learning the programing code but this idea is currently beyond my skills so any help would be great.
My idea:
Buy triggers---
1. cross of a 5 LWMA and a 10 SMA &
2. rsi crossing above 55 level &
3. PSAR on the bottom &
4. DMI+ crossing above DMI-.
Sell triggers---
1. cross of a 5 LWMA and a 10 SMA &
2. rsi crossing below 45 level &
3. PSAR on the top &
4. DMI+ cross below DMI-.
Lastly, I do not know if there could be a MTF factor to help with whipsaws.
Any help with this would be greatly appreciated. I have attached a MA cross over system I have found if it is any help.
Very interserting, your system almost the same with mine
what period of RSI that you use ?
What Time Frame ?
I'm using tf M5
I use SMA 6 Open (LimeGreen), SMA 12 Open (Gold), for buy sell of tf M5
and SMA 48 Open (Red) that indicate buy sell for tf H1.
For whipsaw, maybe you can use DamianiVolatmeter and ToR, like I use.
Sometime if I'm seeing 3 MA's link each other, that indicate non trade condition.
Very interserting, your system almost the same with mine
what period of RSI that you use ?
What Time Frame ?
I'm using tf M5
I use SMA 6 Open (LimeGreen), SMA 12 Open (Gold), for buy sell of tf M5
and SMA 48 Open (Red) that indicate buy sell for tf H1.
For whipsaw, maybe you can use DamianiVolatmeter and ToR, like I use.
Sometime if I'm seeing 3 MA's link each other, that indicate non trade condition.
Hello,
Thanks for the reply. I was going to use a 15 min chart, a 14 period RSI, a 5 lwma, 10 sma, and standard DMI. I also considered using a mtf indicator for extra conformation. Your system is interesting I will definitely take a look at it.
Bongo---I do realize that it is not a unique system and many have used it already but I still feel it is a good starting point for my envisioned plan. I will keep looking on this site for other posts regarding this system.
I'm quite interested to know about these indicators that dictate "future price actions" If you could kindly post them, that would be great as highly suspicious of two scenarios a) you don't know what you're talking about b) you don't know what you're talking about and you built a time machine.
Aside from my sarcasm- a system is a system. This system works for someone who trades it.
Enough said.
Quote:
Originally Posted by wolfe
It seems to me that this system employs quite a few indicators. None of which can really tell future price action, basic trend at best.
I'm quite interested to know about these indicators that dictate "future price actions" If you could kindly post them, that would be great as highly suspicious of two scenarios a) you don't know what you're talking about b) you don't know what you're talking about and you built a time machine.
Aside from my sarcasm- a system is a system. This system works for someone who trades it.
Enough said.
Good points Walander.
Perhaps I was misunderstood. I know of NO indicator that will predict "future price action", nor would I claim to have one. Perhaps it is just my frustration of years of trying to come up with the right indicator combination shining through, that made me have a negative attitude towards indicator heavy systems.
If someone has figured out a system that works, I am happy for them. They are doing better than myself!
Hello everyone,
Thanks for the reply's and comments. I know that it is not a "break through" system but I believe it might help catch some larger trends. I know that they are several indicators that are just trend indicators but it might be a start to something that would work on larger time frames. I was just curious if anyone knew how to program an ea to do this and if anyone is up to the task that would be great.
Thanks,
Arbitrage.
Linear Mode
