I have also modified the MystockRSI to make it lighter.
I remember that the H1 settings are 96-96-10-6. For M5 168-168-10-10
I remember that the H1 settings are 96-96-10-6. For M5 168-168-10-10
Attached File(s)
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Disliked{quote} I also don't understand much about it but I have a friend who helps me.Ignored
Disliked{quote} {file} I modified a couple of strings by removing a for loop and inserting a newbar. In this way the indicator does not work every tick but only the first tick of each new candle. This way it is lighter.Ignored
Disliked{quote} Yes totally. How will you handle NFP tomorrow? Will you exit positions and watch to see where the trend heads? or stay in?Ignored
DislikedFollowing along even if not posting regularly. Small lots for testing. Good luck to all!Ignored
Disliked{quote} the calcualtion with your indicator is done only once per new bar, correct, but you do the for loop (hardcoded) 1000 times on each new bar - when only the 2-3 last bars are really needed for the calculation. So I made a version where you can set MaxBarsBack and OnlyOnNewBar in the user input options (last one per default to "false" - not really needed imho for this 2-3 for loops per tick) {file}Ignored
Disliked{quote}! Ok fellows, this is a new version (6) of MyStochRSI which uses automatically the right parameters when you switch between H1 and M5 Thanks Francesco for the optimizations ! {file}
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Disliked{quote} If my positions were near break even, I would maybe close partially or totally but at the time of writing, having some 100+ pips of margin I will keep my positions and see. I know that it could seem imprudent or even dumb not taking the profits NOW but while being careful with important news, I just don't trade them.Ignored
DislikedFrancesco and Jagg, Thanks for your contributions ! I really appreciate. Now that we have plethora of indicators, Can I ask you to kindly erase your posts so I can re-post the last version in a last post to avoid confusing everyone ? Please...Ignored
Disliked{quote} Hi Guys, Closed my short for 90pips before NFP tomorrow. Good luck to all for tomorrow. Doubt I will get back in but will be lurking on hereIgnored
Disliked@Jagg Thanks. @Broketrader Did you close your open position in wave one? Can I ask the reason for this management? ThanksIgnored
Disliked{quote} I closed the one from wave 2just because price came back prematurely and didn't liked the price action at that moment, it looked like 1.0900-1.0920 was strong resistance. Well, we all know that it was premature
but the thing is that I entered too late, the right level was 1.0960 and I entered at 1.0946, it's only 14 pips you will say but I just didn't want to risk it and having 2/3 of my final position was OK anyway.
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Disliked{quote} Yes, your reasoning is understandable. So now you have zero wave and one wave.Ignored
DislikedTrend duration and Exits. I have been thinking on a way of going out of the trade in an orderly manner while at the same time avoiding to get out too early or too late and still ride the trend to its end. Finally the idea of getting out in the same way as I get in, that is to say in three phases, came to my mind as the perfect compromise. Looking at the trend duration below, peak to peak, we see that the trend duration goes from 1 to 3 weeks so the idea is to close 30% at the end of first week if possible at the end of a major move in our favor....Ignored
Disliked{quote} Finding the ideal exit point is always very difficult but a good indication could be the old inversion points for example. When you open position instead how do you adjust to protect yourself? Opening the position in the zero wave the price then went back 90+ pips. How do you usually regulate yourself?Ignored
Disliked{quote} Now, I think you are confounding wave zero and signal, the wave zero is not the signal, the signal is when the Sma96 changes color which is sometimes in sync with wave zero, but it wasn't in this present trade. So the negative territory was 45 pips, not 90+, the signal came before the wave.Ignored
Disliked{quote} I don't know what do you mean by protect or regulate, let's say that the best way I have found to mitigate the risk in the beginning is to divide what will be my final position by 3 and enter progressively on signal and waves 1,2 like explained previously. Now, I think you are confounding wave zero and signal, the wave zero is not the signal, the signal is when the Sma96 changes color which is sometimes in sync with wave zero, but it wasn't in this present trade. So the negative territory was 45 pips, not 90+, the signal came before the...Ignored
Disliked{quote} Yes I have not yet understood this. Could you take a screen of the first entry? After cutting the average in H1 do you go to M5 and expect the color change? I miss this step sorryIgnored
Disliked{quote} Playing around with your strategy- its true. Trusting the system and the process is just part of the game. If you do it works out very well and I can attest to it now. I've actually been messing around on GBPUSD as it is fairly good with your system. It actually just changed color and I'm at 100+ pips already and theres very good movement on the short. I recognize this is EURUSD only however so I am watching very closely.Ignored