FuriousThug
256 posts
msg #65583
- Ignore FuriousThug |
7/29/2008 8:34:42 PM
So I think I reversed this properly. Problem is, it yields a lot of low RSI stocks. Would it be wise to add a line for that 80-99 RSI?
Thanks.
FT
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FuriousThug
256 posts
msg #65584
- Ignore FuriousThug
modified |
7/29/2008 9:01:51 PM
And w/r/t candle patterns: what would you expect to see? Falling Three Methods? Bearish Kicking? Crows? Necks?
EDIT: Seeing a lot of "three inside/outside down" or at least the engulfing line portion of those patterns. But even in the four weeks I've looked back over, you could probably teach the most popular candlestick (bearish, at least) patterns using this filter...
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FuriousThug
256 posts
msg #65585
- Ignore FuriousThug |
7/29/2008 9:09:25 PM
Actually, looking back over more results, it seems like the RSI value isn't so important...as long as it's declining on the weekly. But it still looks like many of the stronger moves are when it's up above 65 or 70.
I like this. Sure beats the old BB squeeze filter I built with my neanderthal SF filter skills from reading Bollinger's book . Thanks WSG.
FT
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FuriousThug
256 posts
msg #65586
- Ignore FuriousThug |
7/29/2008 9:11:54 PM
Oh. And the other thing I hate about BB filters is they always come up with a lot of narrow-range stocks. I've never actually tried to filter these out. Do you have any suggestions without compromising results?
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chetron
2,817 posts
msg #65592
- Ignore chetron
modified |
7/30/2008 6:48:30 AM
thug,
i use the 50 line as 0 for rsi. when rsi is on the 0 line, i see it as the bears have strength and at 50 it is a tie. imho
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alf44
2,025 posts
msg #65596
- Ignore alf44
modified |
7/30/2008 9:45:57 AM
...what most don't know or see...wrt indicators like RSI...is that you MUST shift these "reference lines"...according to the strength of the trend the security is in !
So...for example with RSI - say...an RSI(14) - where the 70/30 lines are commonly thought to be the "default reference lines"... (ie. overbought/oversold) ...
in a strong UPtrend - you MUST shift those lines UP to 80/40 !
in a strong DOWNtrend - you MUST shift those lines DOWN to 60/20 !
----------------------------------------------------------
The mid-point or basis level will always be 50 !
This is why...in a STRONG UPTREND...if you're using a very short-term RSI like an RSI(2)...the indicator may only retrace to around the 50 level on pullbacks...these 50 level "hooks" can be great entry points...LONG or SHORT...in STRONG uptrends and downtrends respectively ! imo
Regards,
alf44
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WALLSTREETGENIUS
983 posts
msg #65597
- Ignore WALLSTREETGENIUS
modified |
7/30/2008 9:47:23 AM
Take a look at (WNR). This is a stocks that's at the lower end of the BB(10), and the Weekly RSI(2), and COG is positive. Look at the Candle set up...it would appear it's setting itself up for a "Ladder Bottom." This is a PERFECT example of a stock that is getting ready to take off in the next couple of days with some serious $money$ behind it!
Keep an eye on these as well over the next
couple of days....
(RICK)
(MELI)
(FCH)
(FPP)
(ROYL)
(VVC)
- WALLSTREETGENIUS -
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FuriousThug
256 posts
msg #65598
- Ignore FuriousThug
modified |
7/30/2008 10:12:32 AM
ELON had a nice looking setup at EOD yesterday. Earnings were bad and it tanked PM. Still caught some of the move though. The others I focused in on both long and short:
VIA/B - short
CEDC - long
TEG - long
WEC - long
And w/r/t shifting the RSI: yeah, I am always wary of RSI readings because I know they shift according to trends.
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WALLSTREETGENIUS
983 posts
msg #65603
- Ignore WALLSTREETGENIUS |
7/30/2008 1:06:18 PM
They all look good "Thug"...
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FuriousThug
256 posts
msg #65619
- Ignore FuriousThug |
7/30/2008 11:17:03 PM
WSG:
Question about the COGS:
1. Make sure 1 of your 2 lead indicators "COG(5,3)" or "FI(2)" are pointing up. If you have both, then you are looking at an extremely strong chance of a breakout! I use "Center of gravity" COG(5,3) instead of Stochastics, because it usually turns 1-day B-4 Sto does. Get to know this indicator, because it's turning points are usually sharp and precise.
Are you looking at the signal line to make a sharp turn REGARDLESS of which direction the COGS EMA is pointing? In other words, are you looking for the COGS EMA to be heading up as well...or does that not matter so much?
Thanks.
FT
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