Day Trading & Forex Forum

yiwanyii

RSI Crossover Method

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Hi,

Anyone can help me create an EA for this one, so we can back test it faster and more accurately?
Initially, I have manually tested this one on EURUSD pair, and it seems to be doing fine.

Here's how it goes:

I use RSI-5 and RSI-14
1H time frame

Here's the entry point, for BUY:

When the value of RSI-14 go lower than 50, then on its way up, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-14, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the BUY position, wait for RSI-14 to reach 60 level or above. Then wait for the RSI-5 to cross it on its way down.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.




Here's the entry point, for SELL (although BUY seems to be doing better in manual testing)

When the RSI-14 go higher than 50, then on its way down, wait for RSI-5 to cross it. The value that we need is at the close of each candle only. To lessen the false signals, the value of RSI-5 and RSI-14, when it crossed at the close of the candlestick must have a difference of 5 points or above.

To close the SELL position, wait for RSI-14 to go down to 40 level or below. Then wait for the RSI-5 to cross it on its way up.

Conservatively, even while the candlestick is forming, and RSI-5 crossed the RSI-14, we close the trade.

Or, wait for the candlestick to finish and see if indeed RSI-5 will have crossed the RSI-14, whatever the value is.

Another feature is to set the SL and TP at 20 pips. When I do the manual testing, I did not include any SL and T I use RSI-5 and RSI-14
1H time frame


As I mentioned above, this seems to be working fine with EURUSD. I wanted to back test it with other pairs too. Is that possible to make an EA on this and back test it "automatically"? Anyone please?

Thanks,
Ping


As I said, this seems to be working fine with EURUSD. I wanted to back test it with other pairs too. Is that possible?

yiwanyii

wonderful system
but，no ea

ExpertTradingAdvisor

You might want to try posting in the thread that says indicators programmed for free. Maybe they can code the ea there for you.

SuperDriveGuy

Very good system yiwanyii!

I have been testing this on FTSE futures(Z). Seems to work, well.

Thanks.