StockFetcher Forums · Filter Exchange · rsi(9)<< >>Post Follow-up
four
3,998 posts
msg #88478
Ignore four
2/21/2010 1:51:12 AM

http://scientifictrader.com/stock_trend.htm

Anyone like to turn this into a SF filter?

chetron
2,817 posts
msg #88482
Ignore chetron
modified
2/21/2010 10:10:40 AM

maybe...


Fetcher[

set{var2,days(rsi(9) above 60,100)}
set{var13,days(rsi(9) below 40,100)}

set{var16,var13 - var2}

set{vuptrend,count(var16 above 8.5,1)}
set{vdntrend,count(var16 below -8.5,1)}
set{vplays,vuptrend + vdntrend}

set{var3,rsi(9) 8 days ago}
set{vtrigbi,count(var3 crossed above 70,1)}
set{vtrigss,count(var3 crossed below 30,1)}

draw rsi(9) line at 70
draw rsi(9) line at 60
draw rsi(9) line at 40
draw rsi(9) line at 30

draw var16
draw vdntrend on plot vuptrend
draw vtrigbi on plot vuptrend
draw vtrigss on plot vuptrend

vplays above .5
do not draw vplays
close above .1
volume above 100000



]



perfected.....
WELL MAYBE NOT, BUT BETTERER...
SORRY, WHAT WAS I THINKIN'.....



Fetcher[

set{var90,0}
set{var91,0}
set{var92,0}

set{var2,days(rsi(9) above 60,100)}
set{var13,days(rsi(9) below 40,100)}

set{var16,var13 - var2}

set{var1,days(var16 above 0,100)}
set{var3,days(var16 below 0,100)}
set{vdntrend,count(var1 above 8.5,1)}
set{vuptrend,count(var3 above 8.5,1)}
set{vplays,vuptrend + vdntrend}

set{var23,rsi(9) 8 days ago}
set{vtrigbi,count(var23 crossed above 70,1)}
set{vtrigss,count(var23 crossed below 30,1)}


draw rsi(9) line at 70
draw rsi(9) line at 60
draw rsi(9) line at 40
draw rsi(9) line at 30

draw var16

draw vdntrend ON PLOT VAR90
DRAW var91 on plot var92
DRAW vuptrend on plot var92
draw vtrigbi on plot var92
draw vtrigss on plot var90


vplays above .5
do not draw vplays
close above .1
volume above 100000

]






trendscanner
265 posts
msg #88542
Ignore trendscanner
2/22/2010 9:40:15 PM

It's an excellent filter but I find the premise of the article, the use of RSI(9), a momentum oscillator, as a trend indicator, to be of questionable reliability. The article's author includes one chart to demonstrate that the use of RSI(9) as a trend indicator "works". My guess is that backtesting of the system would show many whipsawsand would not produce very good consistent returns. Based on his argument, one could use stochastic or any other oscillator as a trend indicator too. I could probably find many charts that would show that any oscillator can "work" as a trend indicator, at least for certain charts under certain conditions.

Not knocking this particular author but I think a lot of the articles that show up in trading magazines are written just to fill up space and aren't based on any better methods than many of the filters posted here.



johnpaulca
11,299 posts
msg #89125
Ignore johnpaulca
3/5/2010 8:56:18 AM

Moving averages are used to measure trends, oscillators are used for mesuring cycles i.e stochastic, MACD is used to measure momentum and RSI is used the measure the strength of the move.

chetron
2,817 posts
msg #89137
Ignore chetron
3/5/2010 10:41:58 AM

THANX, JP


StockFetcher Forums · Filter Exchange · rsi(9)<< >>Post Follow-up

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