Indicators: ChainPriceRSI

New comment
 

ChainPriceRSI:

Forex indicator ChainPriceRSI is based on the RSI and MA indicators.

Chain Price RSI is an indicator of Trend Lines Arrow with direction to open orders.

ChainPriceRSI indicator

Author: 3rjfx

 

hi, it looks great, is that possible to convert that to EA ?

thanks 

 
vivele123:

hi, it looks great, is that possible to convert that to EA ?

thanks 

Hi vivele123,

Of course you can convert the formula into the EA.

But you have to filter out some false signals.

Then you have to use iMAOnArray, rather than using SmoothedMAOnBuffer or SimpleMAOnBuffer. (# include <MovingAverages.mqh>)

Regards.


 
I tried on H1, and effectively I get a false signal during a cycle. Not sure how to filter that within EA. 
 
vivele123:
I tried on H1, and effectively I get a false signal during a cycle. Not sure how to filter that within EA. 

Hi vivele123,

Indeed, it is impossible to make an EA based on a single indicator.
You have to combine several indicators to filter false signals, for example: Bollinger Bands ®, ATR, WPR, CCI and so on.
Then do the testing EA in Strategy Tester visual mode, so you can see if EA made ​​a mistake.
Regards.
 

Hi 3rjfx 

This indicator takes a long time to load over 2 mins

it takes the same time when changing time frames

regards

 

Thanks for sharing this idea.

how would you determine the time frame that your decision will be base ?

for example,i see a blue arrow on mark 38 in the 1hour chart and white arrow on mark 38 or 15min chart and blue arrow slightly

above mark 38 on 5min chart.in this case ,what decision should be taken?

 

l 

 
curiouslarry:

Thanks for sharing this idea.

how would you determine the time frame that your decision will be base ?

for example,i see a blue arrow on mark 38 in the 1hour chart and white arrow on mark 38 or 15min chart and blue arrow slightly

above mark 38 on 5min chart.in this case ,what decision should be taken?

 

l 

The reason is simply to detect early changes in the direction of price movement.
Due to the technical analysis, the change in direction of price movement will be detected in a small timeframe.

Therefore, in my opinion, if you combine ZigZag indicator on chart windows and ChainPriceRSI indicators on seperate windows,
you will not be difficult to make a profit.

Regards.
New comment