Calculation of a TP trough RSI Divergence

Zigo · Mon, 21 Dec 2020 16:28:46 +0000

I note that in most cases, and speaking of more than 75%, of cases, the calculated Target price (TP) is met. The chart shows both the purchase price and the TP. A green rectangle, for upward rates and a red rectangle for downward rates, indicates the 2 candles where the divergence ends. The TP (line) is printed in the graph, green for upward calculation and orange for downward calculation. Depending on the timeframe, purchased (OB) and sold (OS) are adjusted. The period for the RSI is usually 11 and not 14. The variables are for period (n) for overbought (OB) and for over sold (OS). If someone feels called to test these kinds of parameters in a backtest. In that case, I would kindly like to know the results.

This topic has 26 replies, 2 voices, and was last updated 2 years ago by Zigo.

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01/07/2021 at 9:42 AM #156718

Monobrow

Would you typically use fixed or trailing stops here? And if trailing, do you have a setting that consistently gives the best results? I struggle with trailing to be honest… always seem to give back too much profit from my chosen exit.

of course it means I miss some runners but i guess you cant have it all.

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01/08/2021 at 4:46 PM #156943

Zigo

A stop loss that gives good results, is based on parameters from the Ichimoku Indicator and ATR,

//Zigo
//Berekening stoploss//

c1=(highest[9](high)+lowest[9](low))/2
C2= (highest[26](high)+lowest[26](low))/2
c3=(c1+c2)/2
//Dynamic stop for Long positionsx
//Dynamic stop for Short positions
stlong=TriangularAverage[5](c3- 0.89*AverageTrueRange[14](close))
stshort=TriangularAverage[5](c3+0.89*AverageTrueRange[14](close))
Return stLong as"StopLong", Stshort as "StopShort"

//Zigo

//Berekening stoploss//

c1=(highest[9](high)+lowest[9](low))/2

C2= (highest[26](high)+lowest[26](low))/2

c3=(c1+c2)/2

//Dynamic stop for Long positionsx

//Dynamic stop for Short positions

stlong=TriangularAverage[5](c3- 0.89*AverageTrueRange[14](close))

stshort=TriangularAverage[5](c3+0.89*AverageTrueRange[14](close))

Return stLong as"StopLong", Stshort as "StopShort"

don’t tell anyone,

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Monobrow

Zigo

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01/08/2021 at 6:53 PM #156979

Monobrow

Zigo wrote:

don’t tell anyone,

You have my word! 😬😬👍👍

Monobrow

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01/08/2021 at 8:19 PM #156992

Monobrow

Hey Zigo

Used the code on page 1, set RSIp to 14, put it in an indicator and its blank for me. any ideas? PRT 11.1

cheers

Monobrow

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01/08/2021 at 10:04 PM #157000

Zigo

Maybe, you have to identify n, ob, os. (See attachment)

Zigo

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01/08/2021 at 10:09 PM #157001

Zigo

You can do it with “once n= … ,” once ob = 60, once os = 40 for example.

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Monobrow

Zigo

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01/09/2021 at 3:07 PM #157098

Monobrow

Zigo wrote:

You can do it with “once n= … ,” once ob = 60, once os = 40 for example.

That sorted it, thank you.

Monobrow

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01/09/2021 at 3:23 PM #157102

Monobrow

Zigo wrote:

A stop loss that gives good results, is based on parameters from the Ichimoku Indicator and ATR,

Hey Zigo 😉

these stops are interesting…. but way too tight for my strategy.. im currently building a reversal strat and using fixed SLs of around 60 pips – with TP…… using your RSI code above! seems to work well, but i’m looking for something more dynamic than a fixed SL.

DAX, 1 min timeframe… any ideas?

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01/10/2021 at 12:14 PM #157181

Zigo

You prefer this? (a= 4.23)

stlong=TriangularAverage[5](c3- a*AverageTrueRange[14](close))
stshort=TriangularAverage[5](c3+ a*AverageTrueRange[14](close)

1 2	stlong=TriangularAverage[5](c3- aAverageTrueRange[14](close)) stshort=TriangularAverage[5](c3+ aAverageTrueRange[14](close)

Line 10 and line 11 in the indicator: 0.89 is changed as variable and becomes “a”

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06/08/2022 at 5:38 PM #194932

Zigo

Target Indicator.

Target Indicator aims to deliver one or more well-founded and visible targets.
Example:
RSI crossing above 30 for a long position or an RSI crossing below 70 for a short position.
CCI above 100 or CCI below -100Ø
Crossing of the signal line with the MACD line

Any classic indicator or a self-developed indicator, or a combination of the two is able to be linked to the TargetIndicator, with each signal of those indicators or combinations the TargetIndicator will generate price targets.
These price targets are calculated from the moment a signal of purchase or a signal of sale is given.
The TargetIndicator immediately indicates the “entry” the “stoploss” and 5 price targets. These values are sometimes already visible when forming the candle.
On the basis of some practical examples, it is explained how it works. In addition to these examples, the TargetIndicator can be used on most of the classic trend indicators as well as on various oscillator indicators. TargetIndicator can also be used for combinations of conditions. Three classic indicators are each linked separately to the TargetIndicator, the RSI, CCI and the MACD.
All three classic Indicators show alternating signals. After a signal up, a signal comes down. The different linked indicators are shown below.
Not all signals are usable as will become clear later.

Target Indicator.

Target Indicator aims to deliver one or more well-founded and visible targets.

Example:

Ø RSI crossing above 30 for a long position or an RSI crossing below 70 for a short position.

Ø CCI above 100 or CCI below -100

Ø Crossing of the signal line with the MACD line

These price targets are calculated from the moment a signal of purchase or a signal of sale is given.

The TargetIndicator immediately indicates the “entry” the “stoploss” and 5 price targets. These values are sometimes already visible when forming the candle.

On the basis of some practical examples, it is explained how it works. In addition to these examples, the TargetIndicator can be used on most of the classic trend indicators as well as on various oscillator indicators. TargetIndicator can also be used for combinations of conditions. Three classic indicators are each linked separately to the TargetIndicator, the RSI, CCI and the MACD.

All three classic Indicators show alternating signals. After a signal up, a signal comes down. The different linked indicators are shown below.

Not all signals are usable as will become clear later.

Target Indicator.

Target Indicator aims to deliver one or more well-founded and visible targets.

Example:

Ø RSI crossing above 30 for a long position or an RSI crossing below 70 for a short position.

Ø CCI above 100 or CCI below -100

Ø Crossing of the signal line with the MACD line

These price targets are calculated from the moment a signal of purchase or a signal of sale is given.

The TargetIndicator immediately indicates the “entry” the “stoploss” and 5 price targets. These values are sometimes already visible when forming the candle.

All three classic Indicators show alternating signals. After a signal up, a signal comes down. The different linked indicators are shown below.

Not all signals are usable as will become clear later.

Zigo

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Replies: 343

Been thanked: 63 times

06/08/2022 at 5:41 PM #194935

Zigo

Sorry for repeating the text.

Zigo

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06/08/2022 at 5:43 PM #194937

Zigo

Target with MACD

Zigo

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