four
5,087 posts
msg #88263
- Ignore four
modified |
2/13/2010 10:04:17 PM
close > open
weekly rsi(2) < 70
daily rsi(2) < 10
close > .5 AND CLOSE < 250
day point range > .99 AND DO NOT DRAW DAY POINT RANGE
volume > 100000
SET{V1, DAY POINT RANGE/5}
SET{V2, MAX(CLOSE,OPEN) +V1}
DRAW V2 ON PLOT CLOSE
add column separator
ADD COLUMN V1
ADD COLUMN V2
hp722c
|
Eman93
4,750 posts
msg #88266
- Ignore Eman93 |
2/14/2010 11:06:01 AM
|
moby
314 posts
msg #88267
- Ignore moby
modified |
2/14/2010 11:43:52 AM
nice one, four :)
when do you decide to enter?
|
four
5,087 posts
msg #88268
- Ignore four |
2/14/2010 12:26:08 PM
when do you decide to enter?
---------
V2 is used for the entry NEXT day with limit order
initial stop is low of the V2 day
|
moby
314 posts
msg #88275
- Ignore moby |
2/14/2010 6:57:39 PM
four: very nice, thank you :)
|
Kevin_in_GA
4,599 posts
msg #88276
- Ignore Kevin_in_GA |
2/14/2010 7:06:54 PM
Clever work, four. Would love to learn more about your approach on this one.
Can you explain your thinking in the development of this filter? For example, why the day point range > 0.99 as a selection criterion?
|
four
5,087 posts
msg #88277
- Ignore four |
2/14/2010 9:25:22 PM
"...the day point range is the actual price difference between the high and low of the day. The day point range is not converted to a percent." (StockFetcher)
I am looking to "skate" across the highs if there is a down trend. Thus, max(open,close) plus a value. Remember, there are always rogue waves and outliers.
I want to see a good range to work with (high to Low). Thus, a big number for the day point range.
|
VenturaTrader
43 posts
msg #88302
- Ignore VenturaTrader |
2/15/2010 10:28:49 PM
I don't know why this works or where I found it, but I have been using the daily and weekly RSI (2) to trade long and short ETFs; mainly QLD and QID.
When the daily RSI (2) goes below 25 and then comes up through 25, that's a BUY signal ONLY if the weekly RSI (2) is in an upward trend too; they don't always move together. I don't act on the daily RSI buy signal unless the weekly RSI is moving upward too.
The sell signal occurs when the weekly RSI (2) reaches a top and starts moving down; I get out the next day.
I'm not a daytrader; on the road during the day when the market is open.
Mike
|
gmg733
788 posts
msg #88305
- Ignore gmg733
modified |
2/15/2010 11:02:24 PM
@VT
Too funny, I used RSI kind of the opposite. I look for the way oversold weekly and then wait for positive divergence to 25 (for long). In fact, I look at the daily just for reference. This fits my trading time frame better.
Add MACD to your charts and make sure they are positive divergence too. The closer to zero the safer the trade. But with ETFs it might not make a difference.
|
four
5,087 posts
msg #88309
- Ignore four |
2/16/2010 7:44:19 AM
@VT ...
|