StockFetcher Forums · General Discussion · Momentum Pinball<< 1 2 >>Post Follow-up
eddyadiel
18 posts
msg #76916
Ignore eddyadiel
modified
7/28/2009 3:17:42 AM


Momentum Pinball

Hi All,

Actually I'm trying to implement strategy explained in "Street Smart: High Probability Short-term Trading Technique" by Connors & Raachke...(Ch 7: Momentum Pinball)

I try to copy paste the rules here:

BUY SETUP
1. Plot a three-period RSI of a one-period Rate of Change (the daily net change).
2. Day one is determined by an LBR/RSI value of less than 30.
3. On day two, place a buy stop above the HIGH of the first hour's trading range.
4. Upon being filled, place a resting sell stop at the low of the first hour's range to protect your trade. The market should not come back to this point.
5. If the trade does get stopped out, it can be re-entered on a buy stop at the original price. It is rare that this situation occurs, but when it does it is profitable to re-enter the trade.
6. If the trade closes with a profit, carry it overnight. Exit on morning follow through the next day (day three).

Hope somebody can help me to build the script for that purposes...Tx



chetron
2,817 posts
msg #76917
Ignore chetron
modified
7/28/2009 6:33:49 AM

WHAT'S AN LBR?

WHILE I AM WAITING....


Fetcher[
ROC(1) 1 DAY AGO CROSSED ABOVE CEMA(ROC(1),13) 1 DAY AGO
ROC(1) BELOW ROC(1) 1 DAY AGO
ROC(1) ABOVE CEMA(ROC(1),13)
]



chetron
2,817 posts
msg #76919
Ignore chetron
modified
7/28/2009 6:57:50 AM

MAYBE...

Fetcher[
DRAW RSI(3) ON PLOT ROC(1)
RSI(3) BELOW 30
ADD COLUMN HIGH
]




OR IS IT...


Fetcher[

SET{VRR,INDPOSITION(ROC(1),3) * 100}

DRAW VRR
DRAW RSI(3) ON PLOT ROC(1)
RSI(3) BELOW 30
VRR BELOW 30
ADD COLUMN HIGH
]




OR MAYBE...


Fetcher[

SET{VRR,INDPOSITION(ROC(3),60) * 100}

DRAW VRR
DRAW RSI(3) ON PLOT ROC(1)
RSI(3) BELOW 30
VRR BELOW 30
ADD COLUMN HIGH
]



alf44
2,025 posts
msg #76920
Ignore alf44
7/28/2009 8:40:05 AM

LBR = Linda Bradford Raschke ...


alf44
2,025 posts
msg #76921
Ignore alf44
modified
7/28/2009 8:50:43 AM

...fwiw...my understanding of this set-up is...

You are creating an Indicator of an Indicator !

Namely a 3 period RSI ... of a 1 period ROC !

I've tried in the past to do this and gave up.

If anyone can get this done..."chet" prolly can...but looks to me like there's still
some work to be done.


Regards,

alf44


chetron
2,817 posts
msg #76934
Ignore chetron
modified
7/28/2009 7:55:09 PM

thanx alf, how about this......



Fetcher[

/* this filter's math is not correct, do not use, for reference only */

set{v1,roc(1) 1 day ago}
set{vud,roc(1) - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,3)}

set{vdd,v1 - roc(1)}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,3)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{rocrsi,myrsi3 * 100}

rocrsi below 30

close above .1
volume above 1000000
]



chetron
2,817 posts
msg #76935
Ignore chetron
modified
7/28/2009 8:04:48 PM

OR...


Fetcher[

/* NUMBER 2 */

/* this is the correct version of my roc rsi indicator */

set{v1,roc(1) 1 day ago}
set{vud,roc(1) - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,3)}

set{vdd,v1 - roc(1)}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,3)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{myrsi4,myrsi3 * 100}
set{rocrsi,100 - myrsi4}

rocrsi below 30
close above .1
volume above 1000000

]



MY THOUGHT....


Fetcher[


/* NUMBER 2 */


set{v1,roc(1) 1 day ago}
set{vud,roc(1) - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,3)}

set{vdd,v1 - roc(1)}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,3)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{myrsi4,myrsi3 * 100}
set{rocrsi,100 - myrsi4}

rocrsi below 3
RSI(2) BELOW 2
close above .1
volume above 100000

]




FINALLY....


Fetcher[

set{v1,roc(1) 1 day ago}
set{vud,roc(1) - v1}
set{vud1,count(vud above -0,1)}
set{vudf,vud * vud1}
set{vudema,cema(vudf,3)}

set{vdd,v1 - roc(1)}
set{vdd1,count(vdd above -0,1)}
set{vddf,vdd * vdd1}
set{vddema,cema(vddf,3)}

set{myrsi1,vudema / vddema}
set{myrsi2,1 + myrsi1}
set{myrsi3,1 / myrsi2}
set{rocrsi,myrsi3 * 100}

rocrsi below 30
RSI(2) ABOVE 80
close above .1
volume above 1000000
]



eddyadiel
18 posts
msg #76938
Ignore eddyadiel
modified
7/29/2009 6:01:11 AM

Tx Chetron & Alf44....

But how to create level 70 & 30 in the chart so we can easily identified profitable trade....'coz chart in the book shows that the profitable trade is confirmed by the bouncing in the area of 70 & 30....

@Chetron
The setup is 3-period RSI of a one-period ROC....I see the script you wrote is RSI (2)....



chetron
2,817 posts
msg #76939
Ignore chetron
modified
7/29/2009 6:40:05 AM

@eddyadiel, i guess you need a new pair of glasses, the "ema" lines are what set-up the bar count and i am seeing "3"'s there. the rsi(2) specific lines are only for the additional ideas, outside of yours, that i had, for reference only.

hth

chetron
2,817 posts
msg #76940
Ignore chetron
7/29/2009 6:51:48 AM

@eddyadiel, unfortunately, to draw lines at this point, is considered an "advance" feature of which i don't posess.

StockFetcher Forums · General Discussion · Momentum Pinball<< 1 2 >>Post Follow-up

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