60 min Flow in International Commodities.

[Prabhjeet]

what i hav seen is that gold always gives clear pivots after some patience to reverse.............

these tiny pivots which we r used to trade in nfty and stocks are of no use here......

only the major pivots....

prabhjeet ur rsi indicator works perfect here....and major pivots gives reversals only.....
the pivot we used i.e. last bar of 24 was a pause in fall...not a retracement.....and ur rsi indicator states dat clearly....this indicator helps in case of flags even...and sideways movement.....it helps us avoid many unnecessary trades......which we will always do if we r not cautious......

a good retracement gives reversals...which we witness in major pivots......

rest we can use minor pivots to book some profits.....as gold gives big moves.....

regards

neeraj

Neeraj are using RSI 3 or RSI 5 and also I have seen in your charts that you use Close as parameter for RSI, instead try RSI High when short and RSI Low when long

 

[ThE HaMmEr]

Neeraj are using RSI 3 or RSI 5 and also I have seen in your charts that you use Close as parameter for RSI, instead try RSI High when short and RSI Low when long

using RSI 3 ... close i think is by default........never thought of high low.......

 

[Prabhjeet]

using RSI 3 ... close i think is by default........never thought of high low.......

If you have not tried High Low yet, than you should definitely do it now, picture gets much more clearer

 

[ThE HaMmEr]

is dere ne way to set in icharts.....and can u explain a lil bit abt dem...i used default only.......

 

[Saint]

If you have not tried High Low yet, than you should definitely do it now, picture gets much more clearer

Prabhjeet,have you had a look at PS Percentage Crossover in Metastock.......tracks the 60min Flow.Slightly later than Pivot Entries,but can keep you out of flags and sideways moves as well.

More as an adjuvant ....... don't know its effectiveness in all stocks,a nd futures,and at all times.Not really backtested.....but interesting especially when you use 1.3-1.5%

Saint

 

[Prabhjeet]

Sir I am using Metastock 9.0 RT,it doesnt show this indicator, are you using Metastock 10.0

BTW, if you check RSI 3 visually you will see how effective it is in many many securities like Gold, Copper, Aban, Bank Nifty, HDIL, Educomp. I was avoiding talking about RSI here but just a casual eye balling will show you how good it really is

 

[Saint]

Sir I am using Metastock 9.0 RT,it doesnt show this indicator, are you using Metastock 10.0

Yes.....ah,okay,never mind.

Just makes it all a bit too easy as a help to the mind more as a confirmation.

Anyway,no probs,leave it.

Saint

 

[FlowTrader]

Sir I am using Metastock 9.0 RT,it doesnt show this indicator, are you using Metastock 10.0

BTW, if you check RSI 3 visually you will see how effective it is in many many securities like Gold, Copper, Aban, Bank Nifty, HDIL, Educomp. I was avoiding talking about RSI here but just a casual eye balling will show you how good it really is

I don't use Metastock, but google seems to know about this MS indicator ..

Buy Order code:

var1:=If((C*.97)>PREV,C*.97,If((C*1.03)<PREV,C*1.03,PREV));
Cross(C,var1)

Sell Order code:

var1:=If((C*.97)>PREV,C*.97,If((C*1.03)<PREV,C*1.03,PREV));
Cross(var1,C)
---

Regards
PK

 

[Prabhjeet]

Yes.....ah,okay,never mind.

Just makes it all a bit too easy as a help to the mind more as a confirmation.

Anyway,no probs,leave it.

Saint

Never a bad idea to have a Confirmation Saint, you know Human mind likes to have as many probabilities on its side as it can

 

[Prabhjeet]

I don't use Metastock, but google seems to know about this MS indicator ..

Buy Order code:

var1:=If((C*.97)>PREV,C*.97,If((C*1.03)<PREV,C*1.03,PREV));
Cross(C,var1)

Sell Order code:

var1:=If((C*.97)>PREV,C*.97,If((C*1.03)<PREV,C*1.03,PREV));
Cross(var1,C)
---

Regards
PK

Thanks for the indicator PK