MTF RSI using the indicators and data of the current TF

MQL4 Göstergeler Diğer

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I'm looking to create a system that gives buy and sell signals including buy exits and sell exits when all the selected RSI crosses a defined level and price crosses a moving average for a buy and crosses another Moving average for a sell or buy exit. So here is how this will work. For example, I will be using a 15mins chart.  In the 15mins chart, I will have 2 period RSIs of different time frames which are the current TF(15min), 30mins, 1hour and 4hrs and also in the chart will be 50SMA and a 14SMA. For a long entry when all the RSI crosses above 70 and price croses the 50sma. Now, you know 3 of the RSI will already be above 70 before the 15mins RSI joins them, they do not have to cross at the same time. I want to be able to use either on the current bar/candle or at the close of the bar for the alerts. For the sell entry all the RSI should have crossed below 30 and price would have crossed down the 50SMA. For the exits, here is where it gets tricky.. I have 2 exits criteria: 1..for buy exit or long exit it  will use only one TF frame RSI in this case will be the I hour RSI. when the 1H RSI crosses below 70 from above( after all of them have been above 70) . Exit criteria #2 when prices crosses down the 14SMA. The sell exit will be the opposite, when the IHR RSI crosses above 30 from below after all of them have been below 30. criteria # for sell or short exit when price crosses above 14sma from below. The 15MINS chart is just an example I can use the strategy for a 30mins 60mins or 4hrs chart but the the alerts will still have to use the moving averages data of the current time frames. I can use how many different TF RSI I want because some strategies I only need 3 TF RSI while others I only Use 2TF RSI. For instance when the strategy is applied to a 1H chart I will use a 1Hr RSI, a 4hour RSI and a Daily RSI. For a 4hr strategy I will only use the current TF which is  4H and a daily RSI. So because of this, there should be an option to select what RSI will be used for the BUY EXIT and SELL EXIT. Push notification and Email will be nice because of the longer time frame strategy, but its not important. Any questions, you know how to find me. Enclosing a GBPJPY 15mins chart so u can see. Not attaching any indicator because they are available mt4 indicators. The Red RSI is the 1hr 2 Period RSI.




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