Kaylexa
11 posts
msg #99666
- Ignore Kaylexa |
3/15/2011 12:05:19 AM
Hello,
I've been trying to think of how to write some filter code to convey this thought:
Price is making a new 2-day low
RSI(5) is NOT making a new 2-day low
In other words, there is some short-term divergence between price and RSI(5).
Some other notes:
* I use daily charts, and I want to run this filter each day about an hour before the market close.
* For RSI(5), I don't just use the "close" to calculate my RSI reading. I use "(close + close + close + High + Low)/5"
This may or may not make any difference when drafting the StockFetcher code.
* Once I get some good working code, I also want to do the same thing for a new 3-day low, new 4-day low, and new 5-day low (not just a 2-day low).
* The main "guts" to this idea is the price and RSI(5) relationship. But a few other parameters I will also include in the filter are:
price is between 3 and 75
Average Volume(90) is above 100000
RSI(5) is between 0 and 50
price is above EMA(200)
Any help will be much appreciated. I love using StockFetcher and I enjoy trying to craft the right code. But I just can't get my mind to work for this one.
Thank you,
Kaylexa
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Eman93
4,750 posts
msg #99670
- Ignore Eman93
modified |
3/15/2011 2:04:53 AM
This is an RSI divergence filter I wrote... Looking for a higher low on the rsi but price made a new 10 week low.
There is a thing called stock fetcher divergence... you can do search,
you need to use the set command to store the variable.
I look at the columns and if rsi today is greater than the 3 week low it could be more interesting.
low reached a new 10 week low
set{rslo, 0 + rsi(14) 10 week low}
set{rsla, 0 + rsi(14) 3 week low}
set{rstoday, 0 + rsi(14)}
set{rdlo, rslo / rsla}
set{rdlp, 1 - rdlo}
set{rmda, rslo - rstoday}
set{rmdb, rslo - rsla}
rdlo < 1
draw rsi(14) 10 week low
add column rstoday
add column rsla {3w low}
add column rslo {10W low}
add column rmdb
add column rdlp
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Kaylexa
11 posts
msg #99688
- Ignore Kaylexa |
3/15/2011 4:37:45 PM
Eman93,
Thank you for your response. I'll look into your code. Right now I don't understand many of the terms in your code, but I'm sure I can pick it up. Again, thank you.
Hi All,
I thought it might be helpful to give you a few recent examples of a stock doing what I am looking for:
1. UNTD
On March 2, price closed at a new recent low of 5.86. On that day my RSI(5) closed at 5.96. A few days later, on March 7, price closed at a new low of 5.80. However, my RSI(5) closed higher at 16.95. I am looking for cases like this where price is making a new low (2-day, 3-day, 4-day, or 5-day lows) but my RSI(5) is not making a corresponding new low (it's making a higher low).
2. ACAT
On Feb 24, price closed at a new recent low of 12.72. On that day my RSI(5) closed at 11.06. A few days later, on March 1, price closed at a new low of 12.40. However, my RSI(5) closed at 19.14. Another good case of what I am looking to find each day using StockFetcher.
3. CMN
This is an example from the short side. On March 9, price closed at a new recent high of 25.73. On that day my RSI(5) closed at 92.97. A few days later, on March 14, price closed at a new high of 26.03. However, my RSI(5) closed lower at 84.28. I went short here.
It's just a simple RSI divergence play. But for some reason I can't seem to create some proper filter code. I've been creating other codes for months. But this one has me a bit stumped.
Thanks in advance,
Kaylexa
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Eman93
4,750 posts
msg #99692
- Ignore Eman93 |
3/15/2011 7:39:19 PM
low reached a new 10 week low .... first I am looking for a stock that made a new 10 week low
set{rslo, 0 + rsi(14) 10 week low} storing the value of the 10 week low of the RSI it may or may not be the same day
set{rsla, 0 + rsi(14) 3 week low} storing the value of the 3 week low of the RSI
set{rstoday, 0 + rsi(14)} storing the value of the RSI today
set{rdlo, rslo / rsla} dividing the RSI 10 week low by the 3 week low... we want the 3 week low to be a bigger number than the 10 week low { ex 10/30} so skip down you want the rdlo to be less than 1 for the divergence to be true... price is making a new low but RSI is higher than the last swing low... you need to eyeball the good setups
set{rdlp, 1 - rdlo}
set{rmda, rslo - rstoday}
set{rmdb, rslo - rsla}
rdlo < 1
draw rsi(14) 10 week low
add column rstoday
add column rsla {3w low}
add column rslo {10W low}
add column rmdb
add column rdlp
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