Using Multiple Indicators
- This topic has 15 replies, 4 voices, and was last updated 4 years ago by
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Just give them different names, for example:
1234indicator1=RSI[a](close)indicator2=RSI[b](close)indicator3=RSI[c](close)indicator4=RSI[d](close)a, b, c, and d can then be optimised to give a different period for each one.
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Yes, but you asked 4 indicators, which one shall I use?
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if you’re only using 2 different values then you only need 2 indicators
12indicator1=RSI[30](close)indicator2=RSI[70](close)then you can use “crosses over indicator1” or “crosses under indicator2” or close>indicator1, close<indicator2 (for example) for whatever action you want to associate with that event.
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Thank You Roberto,
Your a Genius,
I was wondering, when I use RSI, RSI crosses over 30 for a Long Entry
Long Exit crosses over 70
Short Entry 70
Short Exit 30
Are those values in the code, so, that I can Optimise them
Kind Regards
Hello,
After reading this discussion several times to understand what is the exact need, this is what i understand:
You don’t need 4 indicators, but as you are using the builder and not programming, the code is creating 4 indicators automatically so that you can have your 4 conditions.
You just need 1 RSI with a BUY LONG order when it crosses 30, exit when it reaches 70, then SELL SHORT when it crosses down 70 and exit short when it reaches back 30. Assuming that there will be a smooth oscillation from overbought to oversold zone every time, which is not always the case.
If so, which period of RSI you are considering? the default 14?
If not, then I’m afraid the need is very difficult to understand, sorry
Some example of code, but may need to be completed with Stop Loss if exit conditions are not reached before RSI reversal values.
123456789101112131415DEFPARAM CumulateOrders = FalseRsi1 = Rsi[14](close)Lcond = Rsi1 crosses over 30LcondExit = Rsi1 crosses over 70Scond = Rsi1 crosses under 70ScondExit = Rsi1 crosses under 30IF Lcond AND Not LongOnMarket THENBUY AT MarketELSIF LongOnMarket and LcondExit THENSELL AT MarketELSIF Scond AND Not ShortOnMarket THENSELLSHORT AT MarketELSIF ShortOnMarket AND ScondExit THENEXITSHORT AT MarketENDIF2 users thanked author for this post.
So, I can Optimise the 14 Day of each one separately and 30 level
Yes, but I misunderstood what you’re trying to do and my last post is misleading – my bad. You only need a separate RSI if you’re going to use a different period. If they’re all going to be 14, then as Swingeur says, you only need one and that can be used to exit or enter at any level.
30 and 70 are obviously the levels you want to use and not the period (as I mistakenly wrote above, while half asleep). I hope this is at least slightly clearer than mud.
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