Hello fellow trader and programmer, I wanted to build an EA for a strategy, and the strategy entails that I place ema 50 on the same rsi window and I will place a buy order when rsi is at level 30 or below and ema 50 is at rsi level 10 or below. then I will place a sell order when rsi is at level 70 or above and ema 50 is at rsi level 90 or above. I know I can get the value of rsi with the IRSI() function. But how can I detect when ema 50 is at rsi level 90. or when ema 50 is at rsi level 10?
Detect when ema 50 is at Rsi level 90 or ema 50 is at rsi level 10, when ema 50 is placed on same rsi window
287 Views Asked by Bill Mayheptad Ritchie At
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There are 2 best solutions below
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Bodhi Mantra
On
double AUDJPYRSID = NormalizeDouble(iRSI("AUDJPY",
PERIOD_D1,14,PRICE_CLOSE,0),0);
double AUDCADDLOW=0;
if(AUDCADRSID==30)
{
AUDCADDLOW=GetCurrentPrice("AUDCAD","ask");
}
double GetCurrentPrice(string symbol, string type)
{
double price=0.0;
if(type=="bid")
{
price=MarketInfo(symbol, MODE_BID);
}
else
{
price=MarketInfo(symbol, MODE_ASK);
}
return price;
}
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Short version: there is no way to get it "from" RSI level
Why?
Read the graph and check, how many times the RSI-indicator touched or crossed the level of 30% ( on the "oversold" end of the interval of 0..100 percent scale )
Now, for each that moment in time, see the actual
Close[i]. Are they all the same or do they differ for each such moment in time, wheniRSI() == 30%?They are different, and a lot, aren't they?
That is the reason one can never say an actual
Close[i]just from aniRSI()-level.Q.E.D.