ill just wait have much to study on babypips anyway
but 1 question i already came up with
in the training program they talk about the EMA5 and EMA10 on a daily chart
but i am more of a daytrader dont like to have open positions overnight
so in the training they talk about for daytraders it is good to use 5min 30min and 4 hour charts what are good setting for the Ema on low timeframes is there some formula to calculate for the best setting
also for the RSI and the stockastic
at the moment on the broker tool i use now ( WHSProstation)
and the indicators EMA-5 EMA-10
ADX-Directional movement i use that to see if there is a lot of movement ( i hope that that is the correct way to use it)
and i use the
DynamicRSI that is RSI including bollingerbands i put the code here maybe u guys can do something with it but probably u already have that
indicator DynamicRsi;
// Made by someone
input price = close, Rsi = 14, Bollinger = 20, Ema = 5, hi_baseline = 80, lo_baseline = 20;
draw line("RSI",solid_line,green,1), ema_line("Ema",solid_line,blue,1),
line_mid("Mid BB",solid_line,red,1), line_upper("Upper BB",solid_line,dark_yellow,1),line_lower("Lower BB",solid_line,dark_yellow,1),
line_hi("HI Base",solid_line,black,1), line_lo("LO Base",solid_line,black,1), mid("Mid",solid_line,black,1);
vars i(number), u(series), d(series), au(series), ad(series), dif(number), f(number), tmp(series);
begin
line_hi := makeseries(front(close), back(close), hi_baseline);
mid := makeseries(front(close), back(close), 50);
line_lo := makeseries(front(close), back(close), lo_baseline);
f := front(price);
u[f] := 0;
d[f] := 0;
for i := f + 1 to back(price) do begin
dif := ((price
+price+high+low)/4) - ((price[i - 1]+price[i - 1]+high[i - 1]+low[i - 1])/4);
if dif > 0 then begin
u := dif;
d := 0;
end else begin
u := 0;
d := -dif;
end;
end;
au := mma(u, Rsi);
ad := mma(d, Rsi);
line := 100 * au / (au + ad);
ema_line := displace(ema(line,Ema),0);
line_mid := displace(sma(line, Bollinger), 0);
tmp := displace(2 * stddev(line, Bollinger), 0);
line_upper := line_mid + tmp;
line_lower := line_mid - tmp;
end.
here a screen dump of my setup
oke first i am going to finish Babypips and then il ike to know more about Elliot Waves so maybe Cyclon can help me with that
