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

StockFetcher Tools
Filter Editor
My Filters
Watch Lists
Chart+
Find Similar Stocks
Shared Lists
Popular Resources
StockFetcher Forums
Indicator List
Filter Phrases
Examples
Site Search
Sector/Industry List
Usage Guide
Support
Contact Us
Support Home

Subscriber
Subscriber Benefits
Settings
Chart
Results
MyFilters
*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2022 - Vestyl Software L.L.C.•Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.