I just found this tonight and I am having great fun with it. I had what I would call a happy accident several months ago and your indicator is perfect for what I like to do. What I did was draw a trend line on my RSI on a weekly then switched my chart to a daily. The trend line left from the weekly chart was revealing something hidden on the daily. I have been using this to find entries in stocks trending up ever since. I will be using your indicator from now on. Thank you!! Here is an example: I have both RSIs set to seven. The orange is set to weekly and the blue is daily. I next draw a trend line using the weekly RSI. I use the beginning and end of the base as my two points for the line. Now any drop below this line in the future is a potential entry point. I entered AA near 10 using this method. Your indicator is much better; because, I am able to see the weekly and daily at the same time and this is a supreme advantage. Something I have never been able to do before now. I am certain in time many will find a great uses for this indicator. Thanks!! LR
ChrisMoody
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Thanks for the kind comment...I'm glad you find it useful.
Great commentary and analysis. I appreciate you posting your insights.
4xForecaster
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An RSI waffle cone for any flavor of timeframe???
A dream come true!!!
Excellent work my friend!
David
ChrisMoody
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A true honor to have someone of your status to make such a kind comment
denis_radu
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Hi Chris, I struggle to copy this code on my platform (mt4) and always get these 2 errors after clicking "compile" :
1st `study`- declaration without type ............ Line 5 , Column 1
2nd `)` - unexpected end of program ............ Line 51, Column 37
Also below it says "2 errors, 0 warnings"
I`ve tried on 2 accounts, different brokers, it does the same.
Can you please help me out with this ?
samed.karsanbas
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hi chriss moody i need ur idea about gbpjpy. i got sell position on 173.020 for long time. now price stil going up and my lost has been reached 200$
do i have to close this position? or do i have to wait for price going down? pls i will be waiting ur answer. im trying to make some money for complate my education pls i need ur help
HamedAghajani
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I might chip in sth here Samed. As a discipline never never touch the stop loss you had in mind before placing the trade. If you really believe GBPJPY would be a bear market at some point (which I doubt it), take your loss now, digest it and look for another shorting opportunity.
Kind regards, Hamed
samed.karsanbas
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u mean close by position? can u check out my analysis pls.
i been waiting for price touched up 61.88 fibo on my analysis pls check out and share ur idea with me
The prices move in cycles
In your analysis, you have a much strong bullish trend line. The price bounced off of that trend line and resumed it bullish (Phase 1) move.
samed.karsanbas
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after i waited all day bullish stock market turn to bearish market my analysis came to true.. my loss has reached about -780$ now turn to my litle pocket as positive :D now i got 400$ :D so happy
I just found this tonight and I am having great fun with it. I had what I would call a happy accident several months ago and your indicator is perfect for what I like to do. What I did was draw a trend line on my RSI on a weekly then switched my chart to a daily. The trend line left from the weekly chart was revealing something hidden on the daily. I have been using this to find entries in stocks trending up ever since. I will be using your indicator from now on. Thank you!! Here is an example: I have both RSIs set to seven. The orange is set to weekly and the blue is daily. I next draw a trend line using the weekly RSI. I use the beginning and end of the base as my two points for the line. Now any drop below this line in the future is a potential entry point. I entered AA near 10 using this method. Your indicator is much better; because, I am able to see the weekly and daily at the same time and this is a supreme advantage. Something I have never been able to do before now. I am certain in time many will find a great uses for this indicator. Thanks!! LR