Hi,

Valeo is spot on with the rsi 3 setting, quite often this indicator will get you out of bad entries, I think this has been a wonderful addition to this great system.
thanks to Valeo.
regards,
Trader

Good morning my friend, trust you are well rested and ready for the week to come.

I think you are right about starting a new Thread, but let me first ask NewDigital if that would be OK and then once he has approved it, I will re-do the method so that everyone can get up to speed within a few Posts, in fact should not be more than 3 imho.

However, I thank you for this good suggestion and if I get approval from NewDigital, I will start working on it after trades today.

Best wishes and thank you for your constructive support.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

I will respond to everyone as soon as I have finalised with NewDigital about starting a new Thread with a summarised Post or 2 to start with.

Please bear with me.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

After successfully trading the new version of the RSI-5 on the 5M_Chart together with its improvements, I am happy to inform you that I have found the overlay of a 14-RSI over the 5-RSI to be extremely effective for change in direction.

Beauty of this method is that you can "back-test" the results as it does NOT repaint at all.

Whenever the RSI-5 crosses above / below the RSI-14, the directional change is in effect. What is also of extremely good value is the fact that in a retrace, the 5-RSI does NOT cross the 14-RSI and one knows immediately that the ensuing direction is still strong - its like the ZLR on the CCI.

Furthermore, I have added a Z_MTF_RSI set @ TF 60 and setting @ 5 over all of the RSIs so that you can see where the 5-RSI is on the H1-chart and what I find is that whenever the RSI-60M is above the 50%-level, it confirms the long signal and vice versa when the RSI-60M is below the 50%-level. I attach this indicator here for your perusal and use, thanks to my friend Gerhard (DayTrader) for his assistance in helping me to achieve my desired goal with the RSIs.

I have also added the Template seperately in Post #2 so that you do not have to download the entire spectrum of indicators again.

I look forward to hearing from your success with this method.

Best wishes.

Attached Files

	tsd-forum.tpl (110.3 KB, 192 views)
	Z_MTF_RSI(1).mq4 (4.0 KB, 230 views)

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

the RSI 14 ,5 is really a great method, thank you ValeoFX!

I love your XO method, wish you can improve it and make it to be more perfect in the near future

Hi Valeo,

I tried your RSI-5 and 14 on EURUSD 5 minutes chart. Apart from the template that you gave us, I put all the indicators manually. Attach is the screenshot of it.
From the picture, you can see that the RSI5 crosses 14 so many times, thus give us many false signal. Do you have further direction on how to use it? For example, what's the appropriate up/down level?
Thanks mate

Best,

Attached Images

rsi.gif (12.7 KB, 868 views)

That is my wish also, zmskyj. Just help us reach that goal sooner. Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Hi there Wibitiens,

Firstly what you have here is NOT my Template by any stretch of my imagination. If you use parts of the method, I cannot justify any of your isolated oscillators' performance, BUT what I do know is that the RSI is performing correctly. It is how you read it in conjunction with the MTF_4TF_XO which you do not have. The XO is the pivot around which this method was constructed. Until you are prepared to use it as a "whole", I am unable to comment. Sorry.

Best personal regards.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Hi Valeo,

Sorry, I just tried using those two indicators only Anyway, I like your method actually and from my observation the false signal is quite few. Good job Valeo

Best,

Attached Images

xo.gif (17.4 KB, 842 views)

Much appreciated, my friend. Let me know if I can be of any further assistance.

Best wishes.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.