Hello guys,I am currently working on a strategy using Connors RSI and Trend direction & force indicator. It performs quite good, but there is one bottleneck which is pretty much causing a lot of false signals.Here is an example of such a situation:The signals are generated if both indicators are below their bottom lines. But changing those is no option because that would mean to also filter alot of good signals.
So basically I would like to ask you guys if you know any strategy/indicator, to detect those "waterfalls" to avoid getting so many false signals.Any help/tip is highly appreciated.Thank you.Kind regards,
gelsas
Re: How to avoid situations like this?
2If you are looking for counter trend signals (and it seems that you are), why don't you generate signals when the indicators revert (exit) from OB/OS zones to neutral zones and not when they are entering OB/OS zones?gelsas wrote:Hello guys,I am currently working on a strategy using Connors RSI and Trend direction & force indicator. It performs quite good, but there is one bottleneck which is pretty much causing a lot of false signals.Here is an example of such a situation:The signals are generated if both indicators are below their bottom lines. But changing those is no option because that would mean to also filter alot of good signals.
So basically I would like to ask you guys if you know any strategy/indicator, to detect those "waterfalls" to avoid getting so many false signals.Any help/tip is highly appreciated.Thank you.Kind regards,
gelsas
Re: How to avoid situations like this?
3First,it is so strange when some of our friends hide some portion or part of their HG and then asking some thing about,for fast and max approximating it is good to view whole picture,any way increase periods of conners,may be it help you,just my guess.gelsas wrote:Hello guys,I am currently working on a strategy using Connors RSI and Trend direction & force indicator. It performs quite good, but there is one bottleneck which is pretty much causing a lot of false signals.Here is an example of such a situation:The signals are generated if both indicators are below their bottom lines. But changing those is no option because that would mean to also filter alot of good signals. ......
So basically I would like to ask you guys if you know any strategy/indicator, to detect those "waterfalls" to avoid getting so many false signals.Any help/tip is highly appreciated.Thank you.Kind regards,
gelsas
Indicator is just a tool.
Use it only if it can benefit you. Leave it if you don't know how to use it optimally.
Use it only if it can benefit you. Leave it if you don't know how to use it optimally.
Re: How to avoid situations like this?
4gelsas wrote:Hello guys,I am currently working on a strategy using Connors RSI and Trend direction & force indicator. It performs quite good, but there is one bottleneck which is pretty much causing a lot of false signals.Here is an example of such a situation:The signals are generated if both indicators are below their bottom lines. But changing those is no option because that would mean to also filter alot of good signals.
So basically I would like to ask you guys if you know any strategy/indicator, to detect those "waterfalls" to avoid getting so many false signals.Any help/tip is highly appreciated.Thank you.Kind regards,
gelsas
Gelsas, this indicator should do as Mladen was suggesting. You need to experiment with the levels though to get the arrows where you want them.
Re: How to avoid situations like this?
5Thank you! Great idea! I will try that! kind regards,
gelsas
gelsas
Re: How to avoid situations like this?
6After testing I came to the conclusion then using the exit of the OB/OS zones is "to late", with my current strategy the winrate would be below 52%.@mladen do you maybe have any other ideas? kind regards,
gelsas
gelsas
Re: How to avoid situations like this?
8With my normal strategy i got 60% win rate right now, but I want to improve it. There must be other ways to detect this waterfalls.Pava wrote:I told you so...
Idea: do not take trade if there are for example: more then 6 candle in a row which go in the same direction. only start taking trades again after first candle in oposite directon. But I think the problem with this idea is that it is still not filtering out waterfalls in a reliable way. (It will probably help, but not as much as I hope)
That is why I am asking for different suggestions.
kind regards,
gelsas
Re: How to avoid situations like this?
9Use some other indicators combinationgelsas wrote:After testing I came to the conclusion then using the exit of the OB/OS zones is "to late", with my current strategy the winrate would be below 52%.@mladen do you maybe have any other ideas? kind regards,
gelsas
Re: How to avoid situations like this?
10Okay, do you have suggestions? You probably know a lot more indicators that I do. What can you recommend? Kind regards,gelsasmladen wrote:Use some other indicators combination
