Topic: Any way of buying based on RSI and other indicators? - page 2. (Read 2550 times)
i don't mind anything in 70-90 range. 90 is what i start considering actually oversold in a strong rally. it is above the 90 level that we usually see big correction, no before.
In case you missed it, you buy when RSI is oversold and SMA is below the BB, Sell when it's overbought and SMA is above the BB.
I don't think this works on the daily scale but a few minutes to hours might,
I don't think this works on the daily scale but a few minutes to hours might,
U dont wanna catch a falling knife best to do this and wait for a higher high then get in on a retest
Op, use mt4 its the best charting platform period.. just trade manually and set an alert when your conditions are met. Its trivial to make an automated startegy tht will alert you via email once a setup is found. U code via mql it takes a few mins to get the hang of it.
Can I use mt4 (what is mt4?) to send me e-mail alert that I must do a manual trade because my indicator targets are met?
The best "set it and forget it" strategy with Bitcoin is "Buy and hold".
U dont wanna catch a falling knife best to do this and wait for a higher high then get in on a retest
That's even more risky and less profitable.
In case you missed it, you buy when RSI is oversold and SMA is below the BB, Sell when it's overbought and SMA is above the BB.
I don't think this works on the daily scale but a few minutes to hours might,
I don't think this works on the daily scale but a few minutes to hours might,
U dont wanna catch a falling knife best to do this and wait for a higher high then get in on a retest
Op, use mt4 its the best charting platform period.. just trade manually and set an alert when your conditions are met. Its trivial to make an automated startegy tht will alert you via email once a setup is found. U code via mql it takes a few mins to get the hang of it.
In case you missed it, you buy when RSI is oversold and SMA is below the BB, Sell when it's overbought and SMA is above the BB.
I don't think this works on the daily scale but a few minutes to hours might,
I don't think this works on the daily scale but a few minutes to hours might,
The Bitcoincharts default non-stochastic RSI is around 84 right now...
How that is not overbought?
How that is not overbought?
Overbought doesn't necessarily mean it won't stay overbought. You need additional indicators to determine that.
What works is tuning SMA so that it can be an indicator for reversals if it crosses the Bollinger Band. The period must be quite low to get any results but not too low so it does give rare results. Not too high or you won't get any results at all. Then you can use this and RSI to try to make some short term profits.
But be warned, this method needs a stop loss or you will get broke.
The Bitcoincharts default non-stochastic RSI is around 84 right now...
How that is not overbought?
How that is not overbought?
well, RSI says we are still far from bubble territory this time around.
Just curious, what RSI perimeters are you using? The StochRSI on bitcoinwisdom.com running default perimeters on one day intervals shows that we were overbought on November 8, though it's come down a bit since then. The 1 hour interval was showing we were consistently overbought yesterday as well. I've found that RSI isn't a very good indicator for the bitcoin market, since it's still so thinly traded, unless I'm missing something.
well, RSI says we are still far from bubble territory this time around.
If you want features you will likely have to pay a monthly fee...there are high end software out there that can trade bitcoin.
RTBTC seems to be the next step up from free...
Sierrachart bridge....has lot's of features. You will have to research more to figure out what you need.
Gekkobot
Goxtool
If you aren't interested in checking that frequently...do you want to automatically trade based on your system?
Or are you manually buying and selling?
It sounds like you want to "set it and forget it"...good luck with that, it simply doesn't work well with bitcoin.
They had a contest running for quite a while in the trading forum to see if someone could come up with a winning strategy...maybe start researching there.
RTBTC seems to be the next step up from free...
Sierrachart bridge....has lot's of features. You will have to research more to figure out what you need.
Gekkobot
Goxtool
If you aren't interested in checking that frequently...do you want to automatically trade based on your system?
Or are you manually buying and selling?
It sounds like you want to "set it and forget it"...good luck with that, it simply doesn't work well with bitcoin.
They had a contest running for quite a while in the trading forum to see if someone could come up with a winning strategy...maybe start researching there.
Bitcoin charts cannot alarm me or do stuff automatically...
I found out the strategy I wanted to do toying with its indicators in first place, but now I need a auto way to do it, I cannot go check bitcoincharts every single day!
I found out the strategy I wanted to do toying with its indicators in first place, but now I need a auto way to do it, I cannot go check bitcoincharts every single day!
You can do quite a lot with bitcoincharts....although in a time of heavy traffic it will go down.
http://bitcoincharts.com/charts/bitstampUSD#rg5ztgSzbgBza1gEMAzm1g10za2gEMAzm2g25zxzi1gMACDzi2gATRzvzl
Here is a quick look at how I like mine setup...
MACD so you can see what direction things are going, and Avg True Range to determine the strength of the move.
Log of course, and the two "normal" EMA's as a second indicator.
Pop over into the trading forum and see what others are doing!
http://bitcoincharts.com/charts/bitstampUSD#rg5ztgSzbgBza1gEMAzm1g10za2gEMAzm2g25zxzi1gMACDzi2gATRzvzl
Here is a quick look at how I like mine setup...
MACD so you can see what direction things are going, and Avg True Range to determine the strength of the move.
Log of course, and the two "normal" EMA's as a second indicator.
Pop over into the trading forum and see what others are doing!
I want to know if any exchange has easy to access indicator data (instead of you getting boatloads of historical data and calculating yourself) or if a cheap robot service exists.
I want to get a warning, or do it fully automated, to buy BTC when certain indicators are at certain levels. This is not for fully bot trade, it is just to buy at times I think are advantageous, for long term holding.
I want to get a warning, or do it fully automated, to buy BTC when certain indicators are at certain levels. This is not for fully bot trade, it is just to buy at times I think are advantageous, for long term holding.
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