Didgeridoo Trading System - page 2
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thnx for sharing,
on your post 9, dont you mean : CCI BELOW the 0 line
you wrote above....Yes, I have edited this, they should both cross downward for the sell signal.
CCI crosses BELOW 0 for a sell signal and RSI crosses BELOW 40 for a sell signal.
Entries
on your post 10, you say :
RULE B:
Both the CCI crosses below the 0 line AND the RSI crosses ABOVE the 40 line.
But
on the chart you say RSI BELOW the 40 line
please clarify.
And also, at crossings, do you wait for candle to close before entering a trade ?Hi Leo
You are correct, I have been caught cutting and pasting.
As for the entries, I generally enter on the OPEN of the candle after the signal.
For example, on the attached chart we would enter on the open of the candle AFTER the signal candle (in this case we enter because of Rule A).
shouldnt Take profit and stop-loss be adjusted to currency pair ? you wont use the same stop loss of a currency pair that has double the daily range of EURUSD for example, right?
Maybe find the ideal TP and SL with ATR ?
you say :
RSI (Relative Strength Index)
Settings
Period: 14
Line at 0.0
CCI (Commodity Channel Index)
Settings
Period: 14
Line at 40
You mean the opposite, right ? RSI Line at 40 and CCI Line at 0
I think you were doing 2 things at once lol
too bad you cant backtest this a bit, since the i-regr doesnt go back in time... or can you? If theres a way, please tell, thank you
Indicators
Indicators
i-Regr Indicator (a.k.a “Linear regression channel”)
Settings
Degree: 3
KSTD: 2.0
Bars: 250
Shift: 0
RSI (Relative Strength Index)
Settings
Period: 14
Line at 40
CCI (Commodity Channel Index)
Settings
Period: 14
Line at 0
shouldnt Take profit and stop-loss be adjusted to currency pair ? you wont use the same stop loss of a currency pair that has double the daily range of EURUSD for example, right? Maybe find the ideal TP and SL with ATR ?
Of course, in general I simply avoid those pairs with a high ATR, like EURAUD, GBPCHF and GBPJPY, but you should feel free to do as you wish.
you say :
RSI (Relative Strength Index)
Settings
Period: 14
Line at 0.0
CCI (Commodity Channel Index)
Settings
Period: 14
Line at 40
You mean the opposite, right ? RSI Line at 40 and CCI Line at 0
I think you were doing 2 things at once lolYeah, that's right, I have edited this mistake out. Basically I was in on the EUR/JPY trade and the USD/CHF trade while I wrote up the rules, both trades did really well, obviously. Much better than my cut and paste job.
on the chart of post#10
wouldnt you have gotten in 10 candles earlier ? where both CCI and RSI go below ?
on the chart of post#10 wouldnt you have gotten in 10 candles earlier ? where both CCI and RSI go below ?
Sure, that would have been an entry according to Rule B, you will often see entries right after another.....