StockFetcher Forums · Filter Exchange · Another approach to RSI(2)<< 1 2 3 >>Post Follow-up
saico
55 posts
msg #105897
Ignore saico
4/12/2012 3:16:01 PM

My plan so far is to set LMT orders intraday for rsi>=75, if the stock closes eod between a rsi of 70 and 75 I would close the position at the open of the next trading day.


Eman93
4,659 posts
msg #105900
Ignore Eman93
modified
4/12/2012 8:57:48 PM

Kevin_in_GA
2,310 posts
msg #105799
- Ignore Kevin_in_GA 4/3/2012 8:54:12 PM

Plan B produces 4 selections :

CDNS +0.42%
TEX +2.58%
AKRX +1.20%
HPY +3.33%

Total +7.53%
+++++++

Uh, not quite ... you'd want the AVERAGE of those four trades (+1.88%) rather than the sum.

====================================
no you add up your gain. thats what you made.
the average would be that of the 4 trades.

jldelta
16 posts
msg #105903
Ignore jldelta
4/13/2012 3:51:31 AM

Bill - sorry for the delay, I hadn't been here for a few days & I only just discovered how to turn on email alerts.

There's a great deal of information on Ric's site and several ways to use it. I am taking the TSM Weekly pics - generated for Monday morning pre-open - to run this screen as I have described above. I have been corresponding with Ric about this and as of this week he is recording his results on the subscriber pages. Btw, I posted the link to his RSI(2) approach above.

Now, if I could work out how to post an image here, I'd do so...

However, I am not trading his regular TSM Daily selections, nor his Naked Puts (although I really like this approach), at least not yet.

jldelta
16 posts
msg #105904
Ignore jldelta
4/13/2012 4:00:59 AM

I would now like to backtest an exit range of "Exit on next day Open when RSI(2) >x on today's Close", testing from 65 to 90 in steps of 5. My question is how exactly do I add the following as exit code (using 70 in this example)

RSI(2) crossed above 70

into the code, please ?

jldelta
16 posts
msg #105929
Ignore jldelta
4/16/2012 3:37:34 AM

So here are the last week's results using RSI(2) <5 for 2 days, exit @ RSI(2) >70. Ric suggests taking off half positon @ +$1



Uploaded with ImageShack.us

Eman93
4,659 posts
msg #105938
Ignore Eman93
4/18/2012 1:04:05 AM

what system are you using for the results? I like the layout.



jldelta
16 posts
msg #105941
Ignore jldelta
4/18/2012 8:49:07 AM

It's just a screenshot of an Excel list... I'm not quite sure what your question is ?

saico
55 posts
msg #106072
Ignore saico
5/1/2012 9:09:42 AM

Thats a nice tool to calculated exits based on desired rsi levels.

http://www.ripetrade.com/2011/08/rsi-calculator.html

swingman
1 posts
msg #106091
Ignore swingman
5/3/2012 12:54:57 PM

This trading approach sounds similar to PowerRatings by Tradingmarkets.com (Larry Connors), has any one tried PowerRatings, or has any one written a filter that simulates PowerRatings?

jldelta
16 posts
msg #106152
Ignore jldelta
modified
5/9/2012 3:11:05 AM

Good morning - would someone please confirm my syntax is correct ?

I want to add a further filter for when there are several open trades and quite a few new selections : I want RSI(2) <5 for three instead of two days. Is this it (it reduces today's picks from 15 to 10*) :



Fetcher[

apply to watchlist(TSM1,TSM2)
close above MA(200)
rsi(2) below 5
rsi(2) 1 day ago below 5
rsi(2) 2 days ago below 5

Add column rsi(2)
draw ma(200)
chart-length is 6 months

]



* TSM RSI(2) picks have an additonal requirement that they must have pulled back to obvious Support, so only 7 picks for today, about half of which meet the RSI(2)<5 for 3 datys criteria. However, making selections via SF code is 100% mechancial.

StockFetcher Forums · Filter Exchange · Another approach to RSI(2)<< 1 2 3 >>Post Follow-up

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