BFreshour
139 posts
msg #38872
- Ignore BFreshour |
11/14/2005 9:06:54 AM
Looking for a good short filter, you do anything with RSI(2) to find shorts?
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TheRumpledOne
6,411 posts
msg #38873
- Ignore TheRumpledOne |
11/14/2005 10:55:34 AM
Yes, RSI(2) > 99 indicates time to get your shorts on.
Even better is when there is negative divergence between price and rsi(2).
Look at QQQQ on a 1 year/weekly chart.
5/23/05 Close was 38.21, rsi(2) = 97.49
7/25/05 Close was 39.58, rsi(2) = 94.56.. NEG DIV!!
4 weeks later, 8/22/05, close was 38.46
9/5/05 Close was 39.62, rsi(2) = 86.45.. NEG DIV from 7/25/05 peak!!
5 weeks later, 10/10/05, close was 38.06.
MAY ALL YOUR FILLS BE COMPLETE.
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BFreshour
139 posts
msg #38875
- Ignore BFreshour |
11/14/2005 12:34:03 PM
Rock solid, thanks.
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jprowe
17 posts
msg #38894
- Ignore jprowe |
11/15/2005 12:08:58 PM
Great explanation TRO! Have you created any filters which test for divergence on the top or bottom? I was reading a post by HG awhile back about divergence and didn't know if anyone had been able to build a filter that can locate stocks with good RSI(2) price divergence.
Thanks,
Jon
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BFreshour
139 posts
msg #38895
- Ignore BFreshour |
11/15/2005 1:19:27 PM
I wonder if you could so something like the slope of price vs the slope of RSI(2). No idea... I'm not an expert...
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BFreshour
139 posts
msg #38896
- Ignore BFreshour |
11/15/2005 1:28:41 PM
Just an idea...
stock
3 day slope of close above 0
3 day slope of RSI(2) below 0
count(rsi(2) above 99,3) above 0
stock is optionable
add column 3 day slope of close
add column 3 day slope of RSI(2)
add column count(RSI(2) above 99,3)
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jprowe
17 posts
msg #38897
- Ignore jprowe |
11/15/2005 1:29:55 PM
I found this post from TRO for a positive divergence filter
rsi(2) below 25 and close above 1 and Average Volume(90) is above 300000 and volume above 300000 and close below close 2 days ago and rsi(2) above rsi(2) 2 days ago
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BFreshour
139 posts
msg #38898
- Ignore BFreshour |
11/15/2005 1:40:48 PM
I have no idea what I'm doing... Try #2
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shelupinin
120 posts
msg #38965
- Ignore shelupinin |
11/18/2005 7:09:13 PM
my 1 day short:
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