StockFetcher Forums · Filter Exchange · rsi 2 - daily and weekly<< 1 2 3 >>Post Follow-up
four
3,995 posts
msg #88263
Ignore four
modified
2/13/2010 10:04:17 PM

close > open
weekly rsi(2) < 70
daily rsi(2) < 10
close > .5 AND CLOSE < 250
day point range > .99 AND DO NOT DRAW DAY POINT RANGE
volume > 100000

SET{V1, DAY POINT RANGE/5}
SET{V2, MAX(CLOSE,OPEN) +V1}
DRAW V2 ON PLOT CLOSE


add column separator
ADD COLUMN V1
ADD COLUMN V2

hp722c



Eman93
4,659 posts
msg #88266
Ignore Eman93
2/14/2010 11:06:01 AM

Fetcher[close > open
weekly rsi(2) < 70
daily rsi(2) < 10
close > .5 AND CLOSE < 250
day point range > .99
AND DO NOT DRAW DAY POINT RANGE
volume > 100000

SET{V1, DAY POINT RANGE/5}
SET{V2, MAX(CLOSE,OPEN) +V1}
DRAW V2 ON PLOT CLOSE


add column separator
ADD COLUMN V1
ADD COLUMN V2
]



moby
314 posts
msg #88267
Ignore moby
modified
2/14/2010 11:43:52 AM

nice one, four :)

when do you decide to enter?

four
3,995 posts
msg #88268
Ignore four
2/14/2010 12:26:08 PM



when do you decide to enter?
---------

V2 is used for the entry NEXT day with limit order

initial stop is low of the V2 day

moby
314 posts
msg #88275
Ignore moby
2/14/2010 6:57:39 PM

four: very nice, thank you :)

Kevin_in_GA
4,536 posts
msg #88276
Ignore Kevin_in_GA
2/14/2010 7:06:54 PM


Clever work, four. Would love to learn more about your approach on this one.

Can you explain your thinking in the development of this filter? For example, why the day point range > 0.99 as a selection criterion?


four
3,995 posts
msg #88277
Ignore four
2/14/2010 9:25:22 PM

"...the day point range is the actual price difference between the high and low of the day. The day point range is not converted to a percent." (StockFetcher)

I am looking to "skate" across the highs if there is a down trend. Thus, max(open,close) plus a value. Remember, there are always rogue waves and outliers.

I want to see a good range to work with (high to Low). Thus, a big number for the day point range.



VenturaTrader
30 posts
msg #88302
Ignore VenturaTrader
2/15/2010 10:28:49 PM

I don't know why this works or where I found it, but I have been using the daily and weekly RSI (2) to trade long and short ETFs; mainly QLD and QID.

When the daily RSI (2) goes below 25 and then comes up through 25, that's a BUY signal ONLY if the weekly RSI (2) is in an upward trend too; they don't always move together. I don't act on the daily RSI buy signal unless the weekly RSI is moving upward too.

The sell signal occurs when the weekly RSI (2) reaches a top and starts moving down; I get out the next day.

I'm not a daytrader; on the road during the day when the market is open.

Mike

gmg733
616 posts
msg #88305
Ignore gmg733
modified
2/15/2010 11:02:24 PM

@VT

Too funny, I used RSI kind of the opposite. I look for the way oversold weekly and then wait for positive divergence to 25 (for long). In fact, I look at the daily just for reference. This fits my trading time frame better.

Add MACD to your charts and make sure they are positive divergence too. The closer to zero the safer the trade. But with ETFs it might not make a difference.

four
3,995 posts
msg #88309
Ignore four
2/16/2010 7:44:19 AM

@VT ...

Fetcher[close > open
weekly rsi(2) increasing last 2 days
daily rsi(2) crossed above 25

close > .5 AND CLOSE < 250
day point range > .99
AND DO NOT DRAW DAY POINT RANGE
volume > 1000000

SET{V1, DAY POINT RANGE/5}
SET{V2, MAX(CLOSE,OPEN) +V1}
DRAW V2 ON PLOT CLOSE


add column separator
ADD COLUMN V1
ADD COLUMN V2
]



StockFetcher Forums · Filter Exchange · rsi 2 - daily and weekly<< 1 2 3 >>Post Follow-up

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