RSI variable trigger

• 12/19/2021 at 4:47 PM #183602
  idunnomuch

  I read this – I know it is just a simple scalping setup, but I am still earning and I wondered how would you code this?

  For a buy entry, wait for the price to rise above the 200-EMA, where the RSI should fall below 40 (but not below 25). Wait for the RSI to go back above 40 and enter at the candle close corresponding to when the RSI crosses above 40. Make sure to set your stop-loss (SL) at the swing low created by the bullish price increase and set take-profit (TP) at two times the risk on the SL.

  I don’t know enough on how you get it to monitor the RSI continously from the price rising above the 200-EMA – if this is at all possible?

  Would you do a MYCONDITION to setup the 200-EMA cross?

  Then set a trigger 1 for falling below 40 RSI? But then how do you write in that it shouldn’t fall below 25? and that it needs to go back above 40 before entering the trade?

  Thanks

   

  

  idunnomuch

  Participant

  Topics: 4

  Replies: 8

  Been thanked: 2 times
  12/19/2021 at 9:39 PM #183607
  JS

  Simple Scalping

  DEFPARAM CumulateOrders = False If Close Crosses Over ExponentialAverage[200](close) then MyEMACond = 1 ElsIf Close Crosses Under ExponentialAverage[200](close) then MyEMACond = 0 EndIf If RSI[14](close) Crosses Over 40 and MyEMACond = 1 then Buy 1 contract at Market SET STOP pLOSS 10 SET TARGET pPROFIT 20 EndIf

  1 2 3 4 5 6 7 8 9 10 11 12 13

  DEFPARAM CumulateOrders = False   If Close Crosses Over ExponentialAverage[200](close) then MyEMACond = 1 ElsIf Close Crosses Under ExponentialAverage[200](close) then MyEMACond = 0 EndIf   If RSI[14](close) Crosses Over 40 and MyEMACond = 1 then Buy 1 contract at Market SET STOP pLOSS 10 SET TARGET pPROFIT 20 EndIf

  Something like this:

  Only your stop loss is now at the place where the price crosses the RSI above 40.

  I think that when you set these conditions (RSI Crosses Over 40) that you can never find out the previous Swing Low.

  

  JS

  Participant

  Topics: 29

  Replies: 2350

  Been thanked: 1381 times
  12/20/2021 at 1:28 AM #183610
  idunnomuch

  Yes I got as far as you got, but then there is no way to programme in a series of triggers which it has to hit in sequence?

  i.e hit target 1, then hit target 2, then hit target 3 when these 3 are hit in sequence trigger ..

  

  idunnomuch

  Participant

  Topics: 4

  Replies: 8

  Been thanked: 2 times
  12/20/2021 at 1:42 AM #183611
  JS

  Target 1 =Close Crosses Over ExponentialAverage[200](close)

  Target 2 =RSI[14](close) Crosses Over 40 + Target 1

  Can you tell me what Target 3 is? 🙂

   

  

  JS

  Participant

  Topics: 29

  Replies: 2350

  Been thanked: 1381 times
  12/20/2021 at 12:08 PM #183628
  idunnomuch

  Yeah but this is the problem isn’t it?

  The 3rd criteria shall we call it – rather than a target is that it needs to fall below 40, but not below 25.

  And that these  criteria / targets need to happen in sequence otherwise the move is invalid, but I see you tackle this by adding the previous target to the next targets criteria?

  So I guess it is how you get it to understand that it is a moving timeframe and not a specific moment in time.

   

   

   

   

  

  idunnomuch

  Participant

  Topics: 4

  Replies: 8

  Been thanked: 2 times
  12/20/2021 at 2:39 PM #183636
  JS

  The “RSI Crosses Over 40” guarantees that the RSI has been below 40 before that because it crosses from below 40 to above 40 (and the RSI is then of course also >  25).

  Thus, no position is opened when the RSI < 40 or when the RSI < 25.

  You can possibly set an extra condition that, for example, the RSI MUST first hit the 25, but I do not know if you want that.

  In any case, it must be unambiguously fixed what needs to be done otherwise you cannot program it.

  

  JS

  Participant

  Topics: 29

  Replies: 2350

  Been thanked: 1381 times
  12/21/2021 at 7:19 AM #183665
  robertogozzi

  Try this one, it will spot any Ema200 crossover while Rsi < 40, then waits for an Rsi crossover (provided it did not fall below 25, in between):

  DEFPARAM CumulateOrders = False DEFPARAM PreLoadBars = 10000 ONCE Trigger1 = 0 ONCE Trigger2 = 0 ONCE SL = 0 ONCE TP = 0 Ema200 = average[200,1](close) MyRSI = rsi[14](close) IF Trigger1 = 0 THEN Trigger1 = (close CROSSES OVER Ema200) AND (MyRSI < 40) ENDIF IF Trigger2 = 0 AND Trigger1 = 1 THEN Trigger2 = MyRSI CROSSES OVER 40 ENDIF IF Not OnMarket AND Trigger2 THEN BUY 1 CONTRACT AT Market SL = abs(close - lowest[5](low)) TP = SL * 2 SET STOP LOSS SL SET TARGET PROFIT TP ENDIF IF OnMarket OR (close <= Ema200) OR (MyRSI < 25) THEN Trigger1 = 0 Trigger2 = 0 ENDIF //graph (close CROSSES OVER Ema200)// AND (MyRSI crosses over 40) //graph (close CROSSES OVER Ema200) AND (MyRSI < 40) coloured(255,0,0,255) //graph trigger1 coloured(0,128,0,155) //graph trigger2 coloured(0,0,255,255)

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29

  DEFPARAM CumulateOrders = False DEFPARAM PreLoadBars    = 10000 ONCE Trigger1 = 0 ONCE Trigger2 = 0 ONCE SL       = 0 ONCE TP       = 0 Ema200 = average[200,1](close) MyRSI  = rsi[14](close) IF Trigger1 = 0 THEN    Trigger1 = (close CROSSES OVER Ema200) AND (MyRSI < 40) ENDIF IF Trigger2 = 0 AND Trigger1 = 1 THEN    Trigger2 = MyRSI CROSSES OVER 40 ENDIF IF Not OnMarket AND Trigger2 THEN    BUY 1 CONTRACT AT Market    SL = abs(close - lowest[5](low))    TP = SL * 2    SET STOP   LOSS   SL    SET TARGET PROFIT TP ENDIF IF OnMarket OR (close <= Ema200) OR (MyRSI < 25) THEN    Trigger1 = 0    Trigger2 = 0 ENDIF //graph (close CROSSES OVER Ema200)// AND (MyRSI crosses over 40) //graph (close CROSSES OVER Ema200) AND (MyRSI < 40) coloured(255,0,0,255) //graph trigger1 coloured(0,128,0,155) //graph trigger2 coloured(0,0,255,255)

   

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17894

  Been thanked: 4508 times
• Author
  Posts