Arooj
Thanks for your work and posting.
Great!
Patch the Pirate
In VA
TRO 2 CANDLE TRADE INDICATOR
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- TheRumpledOne
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TRO XOVER
TRO XOVER
You can use TRO XOVER to create the rsi(2) x rsi(5) or any crossover alert you want.
ELD attached.
You can use TRO XOVER to create the rsi(2) x rsi(5) or any crossover alert you want.
ELD attached.
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- TRO_XOVER.ELD
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
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arooj wrote:I should clarify that it's the PMSM_HL indicator, not PSSM , and that a buy or sell decision is preceded by either a 2-candle yellow dot OR a similarly colored dot (cyan or magenta, respectively).
Also, the rationale behind a RadarScreen window would primarily be ease of use - right now I have five TS workspaces, each of which has 4 charts.
I think that the combo of TRO's two indicators above would also give the ability to "wait for green" for other choices. Price action precedes all indicators, now it's up to the trader to trade.
Arooj,
Just to clarify on your studies.
A short signal is 2 reds and 1 magenta.
A buy signal is 2 greens and 1 cyan.
A full short signal should only be taken if the previous 2 candle color is yellow or magenta. Exit when either or both of the HL dots become the opposite color, in this case, green.
A full buy signal should only be taken if the previous 2 candle color is yellow or cyan. Exit when either or both of the HL dots become the opposite color, in this case, red.
So basically you examine TWO bars back for your entry only one bar back for your exit and all bars should be closed before judging their colors.
Please correct if I made a mistake interpreting them.
Thanks again for sharing your studies.
Susana
Assuming what I posted is correct I visually backtested this with the e-minis and spent several hours doing so.
Here is my conclusion:
If it chops, the method fails miserably.
If the market trends strongly, it will grab you some good profits.
I also tested 1 min with 60 min, 5 with 15 and the suggested 5 and 60.
Hopefully I'm doing something wrong.
Susana
Here is my conclusion:
If it chops, the method fails miserably.
If the market trends strongly, it will grab you some good profits.
I also tested 1 min with 60 min, 5 with 15 and the suggested 5 and 60.
Hopefully I'm doing something wrong.
Susana
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Yikes! I looked at the ES, but that little bugger is way too volatile for the likes of little 'ole me. However, if you like index futures take a look at the miniDow (YM07M) and you will see better results.
I'm sorry to confuse y'all, but I was unclear about the exit strategy.
There are 3 conditional exits:
-if the 2-cndl dot is the opposite color, then you're out (i.e., if initially LONG via cyan, then magenta takes you out).
-if 2-cndl dot is yellow AND one of the HiLo colors is the opposite one, then you're also out.
-regardless of cndl dot color, if BOTH HiLo dots are opposite to the intial entry dots, you exit.
-Entry only requires that a neutral (yellow) or identical cndl dot be present before the trigger cndl. I usually enter while the candle is still cooking, however (before it is complete), since the dots "stabilize" around the half-time of the candle.
Thanks, TRO, for the Xover indicator. I am still studying the TRO_PMSM_SAK, and am amazed at your ingenuity. It'll take a while to get a complete handle on this, if ever. Kreslik should sponsor a "contest" for the most creative use of these setups (I'd pony up to contribute).
I'm sorry to confuse y'all, but I was unclear about the exit strategy.
There are 3 conditional exits:
-if the 2-cndl dot is the opposite color, then you're out (i.e., if initially LONG via cyan, then magenta takes you out).
-if 2-cndl dot is yellow AND one of the HiLo colors is the opposite one, then you're also out.
-regardless of cndl dot color, if BOTH HiLo dots are opposite to the intial entry dots, you exit.
-Entry only requires that a neutral (yellow) or identical cndl dot be present before the trigger cndl. I usually enter while the candle is still cooking, however (before it is complete), since the dots "stabilize" around the half-time of the candle.
Thanks, TRO, for the Xover indicator. I am still studying the TRO_PMSM_SAK, and am amazed at your ingenuity. It'll take a while to get a complete handle on this, if ever. Kreslik should sponsor a "contest" for the most creative use of these setups (I'd pony up to contribute).
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try this again, about one-quarter down the page:
http://www.investorshub.com/boards/boar ... rd_id=7882
Rather interesting use of the crossover, particularly for RSI <30
http://www.investorshub.com/boards/boar ... rd_id=7882
Rather interesting use of the crossover, particularly for RSI <30
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