StockFetcher Forums · Filter Exchange · RSI(2)<< 1 2 >>Post Follow-up
tokyoseminole
2 posts
msg #44527
Ignore tokyoseminole
6/2/2006 5:44:10 AM

OK, I have looked at this forum lookin for the right RSI (2) to use, but there seems to be many variations, can someone post the right one for my style,

basically I am a short term trader (2-5 days) looking for stocks that are oversold and due for a TA bounce. I usually research stocks the night before and make a list of 10 that I want to focus on, then watch the 1st 1/2 hour of the open and buy 1 stock, then I leave it alone and continue to watch the technicals/candles after each close.. so far I am doing pretty well.. actually since I started using stockfetchers I am 3-0 ( CBAY, XSNX & CHTR, I am using multiple filters to make a watch list, but I am still looking to perfect my entry point, it seems I am always eithr to late or always afraid that stock will continue to drop as might entry could have been wrongly analyzed. Of course there is always risks, but I am trying to improve my system. Thanks


TheRumpledOne
6,362 posts
msg #44552
Ignore TheRumpledOne
6/2/2006 8:51:42 PM

OK, I have looked at this forum lookin for the right RSI (2) to use, but there seems to be many variations, can someone post the right one for my style,

basically I am a short term trader (2-5 days) looking for stocks that are oversold and due for a TA bounce. I usually research stocks the night before and make a list of 10 that I want to focus on, then watch the 1st 1/2 hour of the open and buy 1 stock, then I leave it alone and continue to watch the technicals/candles after each close.. so far I am doing pretty well.. actually since I started using stockfetchers I am 3-0 ( CBAY, XSNX & CHTR, I am using multiple filters to make a watch list, but I am still looking to perfect my entry point, it seems I am always eithr to late or always afraid that stock will continue to drop as might entry could have been wrongly analyzed. Of course there is always risks, but I am trying to improve my system. Thanks
...............................................................................

RSI(2) < 1 is the core of all of the RSI(2) filters.

Add

60 day slope of the close above 0

and you have uptrending stocks that are at/near the bottom.

Fetcher[
/* RSI(2) < 1 and LR heading north stock SELECTION filter */
RSI(2) < 1
60 day slope of the close above 0
]



Add your own price/volume criteria.

That ends the SELECTION phase.

The next part is TRADING - entry/exit.

Since you are trading at the open keep 2 things in mind:

1) Fade the gap

2) If you are going long, make sure the price is above the previous day's close and/or previous day's midpoint (high + low)/2.

Those are RULES OF THUMB.

Remember, stock prices either:

1) go up

2) go down

3) stay the same.

No reason to fear #2 unless you also fear #1 and #3.

Don't think of trading in terms of right/wrong or mistakes, instead think of what happens as events. Sometimes you make profitable decisions and sometimes you don't, it is that simple.

The only mistake would be NOT following your own rules, plans, tactics, etc.

HTH.

MAY ALL YOUR FILLS BE COMPLETE.




luc1grunt
622 posts
msg #44554
Ignore luc1grunt
6/2/2006 8:54:04 PM

Well spoken Avery


as214
184 posts
msg #44565
Ignore as214
6/3/2006 1:35:03 AM

Add "and price is 3 percent or greater beneath DMA(28,-14) and watch the sea of green and the percentages increase on an offset. Ive said it before and Ill say it again ..." Combining RSI2 with DMA 28,-14 is the most powerful and deadly combo Ive ever seen before. Unbelievable..


TheRumpledOne
6,362 posts
msg #44569
Ignore TheRumpledOne
modified
6/3/2006 12:48:19 PM

Fetcher[
/* RSI(2) < 1 and LR heading north stock SELECTION filter with DMA(28,-14)*/

and add column average volume(30)
and add column DMA(28,-14)


and RSI(2) below 1
and 60 day slope of the close above 0

and price is 3 percent or greater below DMA(28,-14)

close above 20
average volume(30) above 1000000

/* and date offset is 5 */
]



Add a Bell and a Whistle:

Fetcher[
/* RSI(2) < 1 and LR heading north stock SELECTION filter with DMA(28,-14)*/

set{xDMA1, DMA(28,-14) - price}
set{xDMA2, DMA(28,-14) * .03}
set{xDMA3, xDMA1 - xDMA2 }

set{Rcount, count(rsi(2) below 1 , 1)}
set{Dcount, count(xDMA3 above 0 , 1)}
set{RDsum, Rcount + Dcount}

set{RDcount, count(RDsum above 0, 5)}

/*
and add column Rcount
and add column Dcount
*/

and add column RDcount

and add column average volume(30)
and add column DMA(28,-14)

and RSI(2) below 1
and 60 day slope of the close above 0

and price is 3 percent or greater below DMA(28,-14)

and RDcount above 0

close above 1
average volume(30) above 500000

/* and date offset is 5 */
]



The RDcount column tells you how many times during the last 5 days RSI(2) WAS < 1 AND price WAS 3 percent or greater below DMA(28,-14).

as214, is that what you had in mind?





tokyoseminole
2 posts
msg #44574
Ignore tokyoseminole
6/3/2006 8:25:26 PM

thank you all for spending the time on this, I will give a try.. this board has some very high level knowledge, I really glad I joined.


TheRumpledOne
6,362 posts
msg #46810
Ignore TheRumpledOne
9/9/2006 3:29:26 PM

Pop to the Top


tmaugham
115 posts
msg #48438
Ignore tmaugham
12/7/2006 1:26:05 PM

pop


traderblues
195 posts
msg #48452
Ignore traderblues
12/7/2006 9:02:21 PM

Add 1 more parameter:

Fetcher[/* RSI(2) < 1 and LR heading north stock SELECTION filter */
RSI(2) < 1
60 day slope of the close above 0
CCI(50) above 0
]




TheRumpledOne
6,362 posts
msg #48461
Ignore TheRumpledOne
modified
12/8/2006 10:52:33 AM

Fetcher[
/* RSI(2) < 1 and LR heading north stock SELECTION filter */

set{CCIb,days(CCI(50) above 0 ,100)}
set{CCIa,days(CCI(50) below 0 ,100 )}
set{CCIxCCI, CCIa - CCIb}

set{CCbt,days(CCI(50) is above CCI(50) 1 day ago,100)}
set{CCat,days(CCI(50) is below CCI(50) 1 day ago,100)}
set{CCITREND, CCat - CCbt}


add column CCIxCCI
add column CCITREND


RSI(2) < 1
60 day slope of the close above 0
CCI(50) above 0
]



Thought you might like to know how many days CCI(50) has been above 0 and the TREND of the CCI(50).

HTH.



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