Trade with Simple Strategies

[timepass]

1) Why use 7 period for RSI ?? Normally RSI is calculated on 14 period. 7 may give earlier signals but maybe more whipsaws. As the image below shows, RSI(7,E9) has entered OB zone much master than RSI(14, E9). Also, it shows exits OB zone faster and shows bearish crossovers (which later turn into hooks and kill the bearish trade, if any, taken as per this strategy).

2) Why 15 min TF ?

PS : No disrespect, but this is just like Bollingerworm on 15 min TF.

 

[FanaticTrader]

afl for RSI (7,E(9)) ?

There is no AFL needed to plot RSI (7,E(9)) on Amibroker. Please insert RSI (7) and then use EMA (9) as overlay.

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[FanaticTrader]

1) Why use 7 period for RSI ?? Normally RSI is calculated on 14 period. 7 may give earlier signals but maybe more whipsaws. As the image below shows, RSI(7,E9) has entered OB zone much master than RSI(14, E9). Also, it shows exits OB zone faster and shows bearish crossovers (which later turn into hooks and kill the bearish trade, if any, taken as per this strategy).

2) Why 15 min TF ?

PS : No disrespect, but this is just like Bollingerworm on 15 min TF.

1) AS you picked up correctly 7 period RSI is used only yo identify early entry and early exit but since trade is only intended to be valid until intraday TF so one needs to enter and exit traders rather quickly and swiftly. As for my exp with using 7 period RSI has been concerned, there are whips (as with any other system) but they are not much.

2) 15 min TF is purely picked as it suits my style of intraday trades. Also it does not force you to enter far too many trades rather only one or two trades in day are triggered by System.

3) Honestly though I have checked BBWorm thread I am yet to compare and see if it is same as this setup

 

[Karanm]

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Kindly provide exclusive Set Up / Strategy for Nifty & Bank Nifty.

Thanks & Regards

 

[Karanm]

Tools for Setup - Candlestick chart, Bollinger Band (20,2), RSI (7,E(9)), ATR (14)
Time Frame - 15 mins

Trade Setup - The basics of this setup is very easy to understand. We need to monitor instrument for overbought and oversold zone. When prices are in OB/OS zone along candle piercing the upper BB or Lower BB it triggers Long/Short position. When RSI exits from OB/OS zone and cuts average Long/Short can be initiated on open of next candle. Stop can be placed at ATR*1.5 where ATR of previous candle can considered. As for targets, I prefer to have target of ATR * 2 where value of ATR is that of previous candle.

This setup occurs quite often in Intraday charts. I am posting example of NF trades on 03rd Aug. Also, I would try and update thread with regular posts on this strategies.

Kindly guide as how to Set UP RSI (7,E(9))

Thanks & Regards

 

[Karanm]

Tools for Setup - Candlestick chart, Bollinger Band (20,2), RSI (7,E(9)), ATR (14)
Time Frame - 15 mins

Trade Setup - The basics of this setup is very easy to understand. We need to monitor instrument for overbought and oversold zone. When prices are in OB/OS zone along candle piercing the upper BB or Lower BB it triggers Long/Short position. When RSI exits from OB/OS zone and cuts average Long/Short can be initiated on open of next candle. Stop can be placed at ATR*1.5 where ATR of previous candle can considered. As for targets, I prefer to have target of ATR * 2 where value of ATR is that of previous candle.

This setup occurs quite often in Intraday charts. I am posting example of NF trades on 03rd Aug. Also, I would try and update thread with regular posts on this strategies.

Kindly guide as how to Set UP RSI (7,E(9))

Thanks & Regards

 

[knightrader]

I am starting this new thread where I'll try and provide trading strategies using basics of Technical Analysis. In this thread I'll post strategies which are relevant for Indian Stock Market. Be sensible and be patient. Understand these setups and try and make your own strategy. That is the only thing which will get you profits in the market.

List of Trading Strategies (This list will be updated as new strategies are posted). Click on links below to directly see the posts.

Intraday Strategies

1. BB-RSI Intraday Setup

two three things related to bollinger bands.
1. check the slope of the middle band . If it is sloping up then long trades only. If it is sloping down short trades only.
2.Price approaches the upper band and the upper and lower bands remain flat there is a REVERSAL chance.
3.Price approaches the upper band and the band goes up and the lower band is flat, or slightly sloping up the price will go up slowly for time being.
4.Price approaches the upper band and the upper band goes up and the lower band goes down the price will shoot up fast.
5.Price approaches the upper band and the upper and lower bands both slope down REVERSAL chance.
place stops or reverse trade when a bear candle closes below the middle band.

 

[FanaticTrader]

Kindly provide exclusive Set Up / Strategy for Nifty & Bank Nifty.

Thanks & Regards

This setup can be very well used with Nifty and Bank Nifty. As mentioned earlier, I am using it personally to trade in Nifty and Bank Nifty

 

[FanaticTrader]

Kindly guide as how to Set UP RSI (7,E(9))

Thanks & Regards

Since I use Amibroker and Spider Iris Plus I can guide in setting up RSI (7,E(9)) on these.

 

[FanaticTrader]

Can you please explain how did you arrive at the exit price.

And I think you are using Spider IRIS as you mentioned in one of your thread earlier.

ATR on the candle prior to Entry candle was 20 and my target price is ATR * 2 ~ 20 * 2 = 40. So if I add this value to entry price i.e. 5183, my target would be 40 points which is equivalent to 5223.

Hope this helps

And yes, I am using Spider IRIS