Re: RSI Indicators for MT4

1851
sal wrote: Thu Apr 07, 2022 8:59 pm mrtools
can you please add CCI lines with this indication (CCI + RSI lines ). arrow shall be paint both lines should TMA band breaks (reversal & exit)

!!! Rsi TMA centered no REPAINT 1.02.mq4
Far as I know there is no way to add cci + rsi lines together, since their values are completely different.


Re: RSI Indicators for MT4

1852
mrtools wrote: Fri Apr 08, 2022 2:59 am Far as I know there is no way to add cci + rsi lines together, since their values are completely different.
fine. can you please replace RSI to CCI... ??
"There is NO GOD higher than TRUTH" - Mahatma Gandhi


Re: RSI Indicators for MT4

1859
thiru wrote: Sat Apr 09, 2022 1:50 pm let us add stoch also, again not really sure if it is correct.
thanks!
interesting - a weekend of experiments & comparisons
(From my point of view the signals would be much better, if they were triggered after candle close above/below MA, i. e. mid-line.
It is - I think - a very old misconception to have a signal at overbought/oversold because those areas show strong/weak momentum and - especially during trends and depending on your indicator inputs - can last a very long time - at least much longer than you have money. But there you are...)
Attachments

Re: RSI Indicators for MT4

1860
josi wrote: Sat Apr 09, 2022 3:39 pm thanks!
interesting - a weekend of experiments & comparisons
(From my point of view the signals would be much better, if they were triggered after candle close above/below MA, i. e. mid-line.
It is - I think - a very old misconception to have a signal at overbought/oversold because those areas show strong/weak momentum and - especially during trends and depending on your indicator inputs - can last a very long time - at least much longer than you have money. But there you are...)
Image
You're absolutely right, but one of the most promising ideas I am currently experimenting with is actually to inverse it. I use it in a trend continuation setup. The best place to sell in a downtrend is at an overbought peak as opposed to a moving average which can lag entries a bit, and the best place or entry in a bullish trend is at an 'oversold' peak. Basically using it to catch the end of a pullback into the dominant trend at the best entry point. There'll be less drawdown with this approach and a higher risk to reward than using a moving average or lagging indicator entry.

I am open to more ideas though..


Who is online

Users browsing this forum: Abdi, ChatGPT [Bot], CommonCrawl [Bot], Majestic-12 [Bot], Nanyuki, Narutopips, Proximic [Bot], Steam1, Tbot [Bot], TEAMTRADER, Telegram [Bot], TransparentTrader, twix, WhatsApp [Bot], witori and 108 guests