Add RSI as a buy/sell signal
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Hi,
I would like to add an RSI to the indicators, along with EMA5 and EMA10, to my buy/sell signal. How do I add an RSI to the indicators and allow for the line to cross up/down across the 50 line to be a second buy/sell signal?
Thanks,
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so what you do is you put a condition block, go to the setting and put the rsi indiactor on the left side.
Afterwards, you put the value condition on the right side of the same condition block. In the value box you type 50. Everytime the rsi line crosses above the 50 line (value) you can add a condition buy block connected to that condition. Remeber you have to put corsses above in the condition block with the rsi and value. -
@ndt113 Many Thanks.
So I will need a condition block for the RSI and another the 5EMA crossing the 10EMA - taken together they are the buy signal, and same set for a down movement as the sell signal, is that correct?
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condition block [ 5ema ] above [ 10ema ]
condition block [ RSI ] crosses above [ 50 value]
buy block
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@ndt113 Many Thanks.
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@ndt113 I appear to have a problem with the RSI block - how do I set it to crossing the 50 value?
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@aweverard I can see in your projects that you use multiple blocks with crossover in them. First of all, here is about the crossover in "Condition" block: https://fxdreema.com/help/working-with/crossover
The rule is to use only one crossover in series of blocks, because blocks does not wait to pass. If "Condition" is false, that is, it does not wait to pass. But crossovers are single candle wide... I mean that certain "Condition" block with certain crossover in it could pass within one candle, but then the candle ends, it's over, no more passes. And if you use multiple different "Condition" blocks with crossovers, then all crossovers must happen at the very same candle in order to pass them all. Which is normally not the case.
So, instead of using multiple crossovers in a row, use only one and the rest should be > or <. Because guess what, if crossover happened somewhere in the past candles, now at the current moment one line is either > or < than another
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in free time I am working on tutorials where is this king of crossover explained, I share first of tutorials in one week or so
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@fxDreema said in Add RSI as a buy/sell signal:
Ok, yes I was testing and seeing how things worked.
If I read correctly, an SMA crossover can be followed by an RSI or Stochastic above/below a give level and be any number of candles away and still trigger?
i.e. downward SMA crossover and then Stochastic below 80 can be a signal even if the Stochastic level happens 20 candles after the cross.
How would I set up the Stochastic so that it has crossed below and is moving away from the 80 level?
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I don't know what else to say. "Condition" block normally compares 2 values and one of its outputs becomes active depending on the result of that comparison. When crossover (x> or x<) is used in "Condition", then it's almost the same, then the "Condition" is like 2 in 1, because there is one more hidden extra comparison (for the previous candle) to determine crossover. There is no matter what is the result of the comparison, "Condition" block DOES NOT sit and wait for some condition to become true. This block can do 3 things only - to run the next blocks connected to its orange output, to run the next blocks connected to its yellow output, or to do nothing at all.
