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Joe,
I'm sure that Jose will wiegh in with his own thoughts about the RMO
but I would like to say that the RMO is not a new indicator. It
actually appeared in some very early versions of Metastock and has
been around for quite some time under its original name and with
code that you could access. Changing a name and Blackboxing the code
is not what you would expect from a reputable company.
I'm certainly glad to see that someone has finally provided their
trading system details for the RMO. Its been asked for a lot and I'm
sure that others will find it useful.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "Joe Hickle" <joehickle@xxx>
wrote:
>
> Jose,
>
> You seem to be against and not like the RMO indicator inside
> MetaSctock-10. I wonder how much in-depth use that opinion is
based
> on.
>
> Below are my rules for its use and showing great success. I
suggest
> you revisit the application and my rules since your contributions
> and opinions are highly regarded in this discussion group.
>
> I look forward to developing the use of this chart analysis tool
> with you.
>
> Thank You.
>
> Joe Hickle
>
>
>
> RMO Trading Rules
>
> Generally:
>
> We want to trade into a trend. We prefer to take the market in the
> LONG direction so that we earn overnight interest on Yen pairs.
>
> The Daily blue arrow followed by blue arrows on smaller timeframes
> down to at least the 15 minute chart is sought in the chart
analysis.
>
> We observed the Daily-720-360-60-45-30-15-5 charts.
>
> The 60-minute chart shows a couple of days of time which can be
the
> life of a trade. Only when the 60 has a current blue arrow do you
> look for a trade.
>
> Enter when the 30 minute blue line, swing 3, crosses zero and you
> have blue arrows across the timeframes. Add a green horizontal
line
> at zero for reference.
>
> The SARs should be underneath the price candles.
>
> Exit when your profit goal has been reached (2%) and smaller
> timeframes start to break down. (30-15-5)
>
> Wait for re-enter with the daily arrow foundation and smaller
> timeframes corresponding to the trend. Usually best if the 60
swing3
> (blue) has cycled back down below zero and starts increasing.
>
> Know that candle color change happens at the cross of the pink
> (swing2) line through zero.
> Know that the direction arrow on the price charts forms when the
> pink and blue lines cross.
> Know that the green RMO histogram crossing zero is more certain
when
> the blue line has crossed zero.
>
> Now more specifically on the RMO charts:
>
> Observe the charts for
>
> 1. The trend direction is defined by the daily arrow, confirmed
with
> 720 and 360 arrows.
> Entering a long trade right after a daily blue arrow has occurred
is
> the start of a new uptrend.
> Trade entry is based on timeframes of 60-minutes and smaller.
> 2. The 60 must have the blue arrow. Same for the 45-30-15-5
minutes.
> 3. The 15 and 30 must have blue candles and their swing3 line
have
> crossed zero. Blue 30 candles must open higher than the close of
the
> precious candle. Enter above the high price of the first blue 30
> candle.
> 4. The 45 and 60 swing3 should be below the zero line and be
> inclined upwards toward the zero line. Blue candles are nice but
are
> not mandatory.
> 5. If the 5 and 15 have a blue arrow, show the pink line above the
> blue line and all of the above are true, entry the trade.
> 6. Exit with 2% of the trade amount in profit and when the 5 and
15
> start to collapse, shown by a crossover of the pink and blue
lines.
> Study the 15 pink line to form a double-top as a possible exit
> signal.
>
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