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LinkBack (70) | Thread Tools | Display Modes |
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rsi confirmation mtf
would it not be great to have a good confirmation of the rsi, and then not like normal, but clear and easy to interpretate. I think i have found that. See picture. But I would be very handy if we could use this as mtf. So, someone capable of making it? I think it makes a great contribution to this tradingsystem.
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cody
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Happy Trading ![]() |
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From what I can see, it's extremely important to have at least one indicator that does not repaint. I could never trade this method just by using ZigZag and the Arrow (like Bigbear mentioned in his first post). Hence MFI is a welcome addition.
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Ash's Signals |
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The candle has to "print" (Close) to confirm the signal. Goinglite |
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no, this rsi does not repaint.
And I like to add this: I use more than one zigzagpointer and more than one nonlagzigzag. I use several, all different of course: from 34 to 200 (34, 62, 100, 132, 162, 200) on 1hr and some others on 4hr, these arrows and zigzagline have different colors and different sizes. The real turningpoints get the biggest arrows and the thickest lines. This way one can see the structure of the waves and subwaves clearly. When a turningpoint is confirmed with arrow, line, mfi and/or rsi wave I take the trade with 1 lot. If at the same time it is shown on 30 min, 1hr and 4 hr I take it with 4 lot. So far (last 5 months I am trading this way) there has been no wrong trade. Further I use fibonacci overlay (wave 1 is related to wave 3 and 5 etc etc) in price and time. IF i liked it to babywathc the screen all day after day alle the waves would be taken. But I take only the big ones, for I want to have a social live as well. And as for those conservatives who now start replying that I must not change the bigbearmethod: if that attitude had been of bigbear, his bouncing method should never have been on this thread... ![]() Last edited by roodstaart; 12-26-2007 at 09:42 AM. |
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roodstar
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roodstaart that sounds like a great system u got going there |
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