An Intraday Trading System that actually works - Use it if you like

[sphameed]

Yes as usual gap above 100 point mostly market goes sideways but you managed control loss sounds good.
if you want more accurate use market profile you can predict future move.

 

[Gabriel Sverginsky]

Thanks for sharing Rustom. I'm going to try to backtest your system with crypto. The only thing is there is no way to complete step 1 as there is no way that I know of to chart the whole crypto market as a whole. What I will do is look at www.coinmarketcap.com and see how much the market is up/down in the previous 24hrs and pick the daily strategy (bearish or bullish) that way.

 

[Rustom Fracis]

Thanks for sharing Rustom. I'm going to try to backtest your system with crypto. The only thing is there is no way to complete step 1 as there is no way that I know of to chart the whole crypto market as a whole. What I will do is look at www.coinmarketcap.com and see how much the market is up/down in the previous 24hrs and pick the daily strategy (bearish or bullish) that way.

Hey Gabriel,

Well, even if one was to ignore the first step, and jump straight into step 2, the system would still sort of give some positive results. Step 1 is there mainly to try and ensure that we are trading in sync with the sentiment of the majority.

Let me know how this worked out for you.

Cheers.

 

[Vijay11]

Hi Newtrader101,

I believe the charts provided by you are from 'Zerodha Kite'.
If so, can you guide in Overlaying EMA 5 on RSI 14.
I tried, but couldn't get it.

Regards.
Vijay

View attachment 24319

 

[Rustom Fracis]

Hi Newtrader101,

I believe the charts provided by you are from 'Zerodha Kite'.
If so, can you guide in Overlaying EMA 5 on RSI 14.
I tried, but couldn't get it.

Regards.
Vijay

Hi Vijay,

My charts run on amibroker. No idea how to do it on kite.

 

[prvnA]

Hi Newtrader101,

I believe the charts provided by you are from 'Zerodha Kite'.
If so, can you guide in Overlaying EMA 5 on RSI 14.
I tried, but couldn't get it.

Regards.
Vijay

View attachment 24319

After setting RSI indicator go to studies - moving average
Enter period 5 then instead of close chose RSI from the drop down then ok , that's it

Sent from my Redmi 4 using Tapatalk

 

[Vijay11]

After setting RSI indicator go to studies - moving average
Enter period 5 then instead of close chose RSI from the drop down then ok , that's it

Sent from my Redmi 4 using Tapatalk

Hello prvnA,

Thanks for your reply.
Yet, remained unsuccessful.
After setting RSI 14 indicator (means the RSI indicator does appear below the chart)
Go to studies - Moving Average - Enter period 5 : (not closed, yet)
Choose RSI from the "Drop Down" (means what ? Only 2 possibilities are open to me - 1st one - either I open the RSI indicator
from the 'Studies' again and click 'OK' (here RSI indicator appears again for the 2nd time below the chart, instead of EMA 5 getting
over layed as desired.

Can you elaborate the step a little more in detail on the 'Drop Down'? I know the catch is here and I am missing it.

Regards.
Vijay

 

[newtrader101]

The system wants to know on which you want the 5 EMA. By default it takes the close. You've to select RSI.
This is how your selection should be for making 5 EMA on RSI

 

[Vijay11]

Hello prvnA,

Thanks for your reply.
Yet, remained unsuccessful.
After setting RSI 14 indicator (means the RSI indicator does appear below the chart)
Go to studies - Moving Average - Enter period 5 : (not closed, yet)
Choose RSI from the "Drop Down" (means what ? Only 2 possibilities are open to me - 1st one - either I open the RSI indicator
from the 'Studies' again and click 'OK' (here RSI indicator appears again for the 2nd time below the chart, instead of EMA 5 getting
over layed as desired.

Can you elaborate the step a little more in detail on the 'Drop Down'? I know the catch is here and I am missing it.

Regards.
Vijay

Sorry, the 2nd possibility is:
I set the RSI indicator but do not close it, I go to studies again and select Moving Average EMA 5 , Go back to RSI (in studies),
Click OK:
But the result is: RSI appears below the chart and EMA 5 in side the chart!

Regards.
Vijay

 

[Vijay11]

Hello newtrader 101 & prvnA,

Friends,
Got it.

Thanks for your help and guidance.

Regards.
Vijay