MagicRSI - page 7

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Spider4896:
Here is my current demo status of MagicRSI v3 + v5.

*Again..Please ignore the small lot trades since they dealt with another EA i have since then turned off.

*Also, i closed out on one of the MagicRSI trades a little early which shows $40+ profit. This was due to me updating the code a little to match the posted v5 version.

Spider~

10 trades in 2 days!

I have the same settings with v5 but today only 1 trade! WHY?

 
ienaplinsky:
10 trades in 2 days! I have the same settings with v5 but today only 1 trade! WHY?

It might have to do with that one trade i closed out early last night when i changed over to the posted MagicRSI v5 code from the older setup of v5 i had running. My live account i also updated the same way and showing the same results as the demo posted.

Other than that im very happy so far with the code and its progress. I still sadly want to see it hit a SL to make sure it can recover.

Spider~

 
 
Spider4896:
It might have to do with that one trade i closed out early last night when i changed over to the posted MagicRSI v5 code from the older setup of v5 i had running. My live account i also updated the same way and showing the same results as the demo posted.

Other than that im very happy so far with the code and its progress. I still sadly want to see it hit a SL to make sure it can recover.

Spider~

Hi Spider, ienapalinsy,

Conrgatulations, great expert, has much potentioal and is near an idea from me...

My idea is about an RSI Cross system... Now i study the code and don´t know the complete function behind it ? Can somebody explain it in detail ?? I want to help u improve it forward because it seems the strategy have much potential !

Thank you guy´s for your help !

mr.trader

 
Spider4896:
Hi mr.trader,

Thanks for joining us here.

Well the MagicRSI system that ienapalinsy introduced us all to is very simple at that. Basically it uses the RSI on a set TF of 1H and a set period of 2. Now we have been finding that attaching the system to different TF's will produce slightly different results. Overall when the RSI reaches the High Lvl of 94 it will open a Sell trade. Same with when the RSI reaches the Low Lvl of 6 it will open a Buy. Now the lvls can be changed to meet your personal preferences. Thats the system in a nutshell although we are trying to find new ways to improve the system.

Please add any comments or ideas that you might have to help out with this system or your ideas.

Thanks

Spider~

ps. anyone please feel to correct me if didn't descirbe it right. Thanks!

Thank u for first... i will study code and try to check why the different timeframes make a difference... I see that u hardcoded RSI Timeframe... strange...

Ok now i will hide me in my office chair, studdy it and will look for improvements...

Once more,

Thanks for first !

mr.trader

 
Files:
eur-usd1.gif  25 kb
testergraph1.gif  8 kb
eur-usd2.gif  26 kb
testergraph2.gif  9 kb
 

Backtesting...

There is one more strange thing i´ve seen... Look at the pic below, in the scale between #30 and #33... this was a backtest setted to "only long"...

How is it possible that a long trade stoped out and the equity value is higher than the Balance Level ????

I think this EA will get his "baptism of fire" at the first bigger maket mover, think about it... it is unpossible that Equtiy can be higer than balance if u trade only in one diretion, when MaxTrades is setted to 1...

We should see how it works at NFP or FOMC.. we can use the EA with 2 modes... on with such as a martingale beginning with smaller lots during the american and european session, and with these settings now for the rest of the day.... Or also possible to code a 2nd confimation during the euro and us session in it... 2nd confirmation like a Money Flow Index, Bulls and Bears or something like this... Example, if the money flow index reaches defined levels don´t open orders (to protect us from the bigger market mover)

I konw, spider, u don´t like martingale but this is only a question of settings, i will appreciate to help u here, i have very mcuh (positive) experiencewith martingale EA´s (i trade it live long time, only a question of settings)

Hope this helps,

mr.tader

Files:
testergraph.gif  9 kb
 

check this out...

i found another EA using RSI....

check this

https://www.mql5.com/en/forum/trading_systems

the basic code to make decision buy/sell is almost like the px4_fx...

Magic RSI code :

extern int BuyRSI = 6;

extern int SellRSI = 94;

.

.

.

double diRSI0=iRSI(NULL,60,2,PRICE_CLOSE,0);

double diRSI1=iRSI(NULL,60,2,PRICE_CLOSE,0);

.

.

.

if ((diRSI0<BuyRSI) && BuyTradeAllowed){

OpenBuy();

return(0);

}

if ((diRSI1>SellRSI) && SellTradeAllowed){

OpenSell();

return(0);

}[/PHP]

PX4_FX code :

[PHP]double RSIb=iRSI(NULL,60,3,PRICE_CLOSE,0);

double RSIs=iRSI(NULL,60,3,PRICE_CLOSE,0);

Buy = False;

if (RSIb<20)

Buy = True;

Sell = False;

if (RSIs>80)

Sell = True;
 

Hi Mr Trader

i'm happy to see you in this thread

 

deleted...

sorry... my mistake...

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