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dawsmit  
#41 Posted : Friday, February 15, 2008 5:52:25 PM(UTC)
dawsmit

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Posts: 15

Hey hayseed -

did you ever get around to putting more thought into 'timeframe conversions' for RMO system signals? I have tried, but no success. Played with varying the timeframes for RMO (Rainbow Osc 81), Swing 2 (EMA30 of the Rainbow), and Swing 3( EMA30 of Swing 2), trying to use on 1, 5, and 30 min. Figured I could multiply by 5 to go from 1 min to 5 min; then multiply by 6 to go from 5 min to 30 min....

Do you need to make the changes in the core of the Rainbow Osc?

your thoughts?[:)]

dawsmit  
#42 Posted : Sunday, February 17, 2008 8:43:44 PM(UTC)
dawsmit

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SirShaveKWSN -

Great code and thanks for posting[:)]; I've been trying to solve for this to test RMO in the system tester and always came up short. Your code appears to be working and I am now trying to modify for a "fancier" (perhaps) entry...

Given the long entry example above, have you any idea how to replicate one of the entry rules mentioned by Rahul in his traing video: if going long, then enter a few ticks above the signal candle given all three (ribbon (green), candle color (blue), and arrow (blue)) synchronize. Your entry above enters a long position at the open of the candle following the signal (with 'market' as order type). My attempt to script to enter, say, at 1 point above the signal candle high is as follows:

Your code above, with the following mod-

BuySignal:=Long = 3 AND Ref( Long,-1) = 3 AND H >= Ref( H, -1) + 1

This will trigger an entry given both the current and previous candle qualify, with the 2nd candle's high equal to or exceeding the 1st candle's high by 1 pt. However, if the 2nd H is lower than the 1st H, and then the 3rd H is lower than the 2nd,,,,,and then perhaps the 4th H is finally higher than the 3rd H by 1 pt, this will finally trigger an entry - but it may not be higher the the 1st candle's H (depending on how much lower each succesive candles H was...). My goal is to try and script code that will enter once a qualifying candle finally pushes above the original signal candle's H by 1 point ("qualifying" means that all successive candles continue to satisfy your "Long=3" conditions).

I have played around with "HighestSince" and "lowestSince" coding, and "valuewhen"...but am getting stumped!

any ideas[:)]?

minnamor  
#43 Posted : Monday, February 18, 2008 11:07:35 AM(UTC)
minnamor

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Location: Italy

This will do the trick:

BuySignal:= sum(long=3,2)=2 and H>Valuewhen(1,long=3 and Ref(long,-1)<3,h)

SPATEL1982  
#44 Posted : Wednesday, February 20, 2008 3:02:52 PM(UTC)
SPATEL1982

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Hey hayseed,

thanks for all your great input and that goes to everyone else too. [H]

I'm trying to start trading the RMO on the forex market.

Am I right in thinking, it works best on the 4 hour chart?

Many thanks. [:)]

aries2103  
#45 Posted : Friday, February 29, 2008 7:53:09 PM(UTC)
aries2103

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Posts: 1

Hi All,

To everyone on this thread, thanks for all the effort on the formulas and explorations. Also must thank Metastock for providing this on the ver 10, the study material is lacking which needs to be further enhanced. I am begining to like the RMO and its been giving great returns from past 2 weeks of its use. It works best on hourly for stocks and forex 4 hours. Would share my views as i go along.

thanks a lot[:D]

dawsmit  
#46 Posted : Wednesday, March 5, 2008 9:38:15 PM(UTC)
dawsmit

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minnamor - great stuff and it is indeed triggering an entry after the second candle exceeds the primary signal candle - but it picks ups the entry price as the 'open' of the third candle...

perhaps it's how I have my 'trade execution' set up in the simulation mode? or perhaps I need to construct the 'buy' and 'sell short' orders as limits or stops (vs market)?

thanks for getting me this far![:)]

muzaffarl  
#47 Posted : Tuesday, March 10, 2009 3:40:59 PM(UTC)
muzaffarl

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Location: Atlanta

Thanks for sharing your system. I am just getting started with Metastock and RMO. How do I test the past performance of your system.

Regards
ML
elec  
#48 Posted : Wednesday, March 11, 2009 9:28:37 AM(UTC)
elec

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Posts: 8

I want the ATM RMO II...
fxtraderchat  
#49 Posted : Tuesday, August 31, 2010 2:52:29 PM(UTC)
fxtraderchat

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Posts: 2

minnamor,

I know your post is several years old, but I was going through some of these posts on the RMO and saw your question on exits.

I find that if I use the exit strategy that Rahul suggests in the videos, I end up giving back most of my profits to the market.

Instead, I use pivot lines to scale out of a trade.

  • For daily charts, I use monthly pivots.
  • For 4 hour charts, I use weekly pivots.
  • For 30 minute charts, I use daily pivots.
  • And for 1, 3 or 5 minute charts, I use 4 hour pivots (I intraday trade on 3 minute charts personally.)

I usually exit 5 or so PIPs shy of the pivot line, in an attempt to account for the spread.

I use the RMO swing signals for trading currencies, specifically the GBPUSD pair. I do not use the RMO Oscillator in my trading, but rather look to the central pivot line to confirm a short or long trade. Click link below for example from today's trading...

http://fxtraderchat.com/2010/08/31/31-august-2010-0936-est-gbpusd-short/

Hope that information proves useful.

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