heyen
124 posts
msg #41961
- Ignore heyen |
3/12/2006 9:27:44 PM
can be used to everyones like... just sell after 1 day
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shelupinin
120 posts
msg #41972
- Ignore shelupinin |
3/13/2006 3:58:41 AM
this filter is not so good if you will add liquidity criteria like:
and price is above 1
and volume is above 100000
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heyen
124 posts
msg #41973
- Ignore heyen
modified |
3/13/2006 5:54:52 AM
I backtested only above $1 and 250,000 average volume, quite satisfying in conjunction with my other criteria for choice...
But hey, if you have much better filters for quick profitable trades, just let me know... ;-)
I tried so many other approaches - as low RSI means its a not hot stock.
But I dont get to catch racing stocks in time, pull backs eat the profits.
Most reliable reproducable profits worked best with RSI(7), wich is almost the same approach as RSI(2) below 1.
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ronun
27 posts
msg #42217
- Ignore ronun |
3/19/2006 4:47:26 AM
heyen,
There is beauty in simplicity. I've tested your "RSI(7) below 20" filter and found it to be very effective on its own merits.
May I suggest using the positive crossover of the Slow Stochastic(5,3) as an entry "trigger" and a negative crossover as the exit, with the swing low as the stop loss.
Your basic RSI(7) filter is strong enough to support several entry and exit variations which may improve the results.
Here is how I've applied your filter:
RSI(7) below 20
and price is above 1
and volume is above 100000
date offset 5
and Slow Stochastics(5) Fast %K is below 20
and draw RSI(7) line at 20
and draw RSI(7) line at 80
and draw Slow Stochastic(5) Fast %K line at 20
and draw Slow Stochastic(5) Fast %K line at 80
I made the date offset 5 to see how the stock behaved immediately after the setup. Also, you might also be interested in another RSI approach from The Tradersclub Forum run by Chuck Lebeau.
http://traderclub.com/discus/board.html
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heyen
124 posts
msg #42233
- Ignore heyen |
3/19/2006 5:29:58 PM
Thanks ronun,
I see you understand my reason for "other criteria".
The System you mentioned (RSI(14) crossing above 22) seems to be very close to RSI(7) < 20, just that RSI(14) is slower. Combining RSI(7) with Weekly Stochastic gives good results.
I'll look at this closer.
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shelupinin
120 posts
msg #42283
- Ignore shelupinin |
3/21/2006 5:35:42 AM
Hi !
better filter for 1-5 days trade which uses same idea of low rsi
Alex
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