Stoch + RSI + Exhaustion Candle Strategy Please

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Stoch + RSI + Exhaustion Candle Strategy Please

Postby LondonGeezer » Mon Jul 31, 2017 10:28 am

Hi All

I was recommended to this site by my broker.
I want to test the following method:
Stoch + RSI alignment i.e. both oversold or overbought
+ Exhaustion candle on support or resistance

Is there anything available that has been coded to this method already?
If not, are there any developers here that can assist me?

my broker is FXCM and it's linked through Tradingview.com so ideally I would run it as a script through tradingview that would alert me to signals for buy/sell according to these rules.
Last edited by LondonGeezer on Mon Jul 31, 2017 2:39 pm, edited 1 time in total.
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Re: Newbie enquiry

Postby Apprentice » Mon Jul 31, 2017 11:08 am

Unfortunately, I can not help you with Tradingview.com
Can write you strategy for TS2/Marketscope or MT4.
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Re: Newbie enquiry

Postby LondonGeezer » Mon Jul 31, 2017 11:19 am

Apprentice wrote:Unfortunately, I can not help you with Tradingview.com
Can write you strategy for TS2/Marketscope or MT4.


How about for Tradingstation?
If not, MT4 will do as I have access to that as well on another account.

What would be cost and time taken for this project please?
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Re: Newbie enquiry

Postby LondonGeezer » Mon Jul 31, 2017 2:37 pm

Apprentice wrote:Unfortunately, I can not help you with Tradingview.com
Can write you strategy for TS2/Marketscope or MT4.


Thanks for coming back to me. How long would this take for MT4 and the cost?
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Re: Stoch + RSI + Exhaustion Candle Strategy Please

Postby Apprentice » Mon Jul 31, 2017 2:57 pm

If you are willing to share your strategy with the public,
This service is free of charge for you.
If so.
Post your strategy details here.
In not.
Send your strategy details to my mail.
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Re: Stoch + RSI + Exhaustion Candle Strategy Please

Postby LondonGeezer » Mon Jul 31, 2017 3:35 pm

Apprentice wrote:If you are willing to share your strategy with the public,
This service is free of charge for you.
If so.
Post your strategy details here.
In not.
Send your strategy details to my mail.


I am willing to share.
What is TS2 is it trading station by fxcm?
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Re: Stoch + RSI + Exhaustion Candle Strategy Please

Postby LondonGeezer » Tue Aug 01, 2017 5:27 am

I think Trading station please so then I can backtest it as well.

My strategy:
After rally up, price makes an exhaustion candle
Stochastics + rsi are overbought
This will trigger a sell order below the low of the exhaustion candle, with stop loss above high of exhaustion candle.
Take Profit should be calculated as 1:1 with stop loss.

Note: if price does not activate my order before close of next candle, order should be canceled.

In reverse:
After rally down, price makes an exhaustion candle
Stochastics + rsi are oversold
This will trigger a buy order above the high of the exhaustion candle, with a stop loss below low of exhaustion candle.
Take profit should be calculatied as 1:1 with stop loss.

Note: If pice does not acivate my order before close of next candle, order should be canceled.
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Re: Stoch + RSI + Exhaustion Candle Strategy Please

Postby LondonGeezer » Tue Aug 01, 2017 8:27 am

Apprentice wrote:Yes, fxcm Windown based platform.
https://www.fxcm.com/uk/platforms/trading-station/
Will TS2 will be your choice or MT4?


Actually - could we make this without RSI or have option to turn RSI screening on/off ?
Because as I analyse charts I see many profitable trades this strategy could make where RSI is not meeting the requirement. I think with RSI, we will miss a lot of high probable opportunities.
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Re: Stoch + RSI + Exhaustion Candle Strategy Please

Postby Apprentice » Wed Aug 02, 2017 6:52 am

below the low of the exhaustion candle

Definition below.
Exhaustion candle on support or resistance


1. How support resistance will be defined.
2. Will Candle cross or touch aforementioned abow line?
3. If cross is used, will we use cross over for long trades ...
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