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Ron,
just one note, to make life easier.
Wedges *are* converging in one way or another.
See for example
http://www.chartpatterns.com/wedges.htm
DT
--- In amibroker@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx> wrote:
> .
> Steve, I have pasted the post you made to Dimitris below. I am
curious, did you simply add your code to the bottom of Demitris's RSI
trendline code? You mentioned that you HACKED Dimitris's code.
Does the word HACK mean that you made some changes to it
internally. If you did make internal changes, I would appreciate it
if you feel free to post
them.
>
> I am satisfied with the indicators that I have chosen to rely upon
in order to determine when to enter a position, and when to exit a
position. Now I need to read the user's manual in order to learn how
to do backtesting. I am hoping to find, or develop, backtesting
code that will find the eminent approaching breakouts that
inevitably result from converging wedge patterns.
>
> I will explain my concept for testing for Demitris's RSI
contracting wedges just in case any other users happen to also be
interested in trading breakouts from these RSI contracting wedges. I
would also like to hear suggestions on how to further refine the
concept. I want to run several different backtests. All of these
backtests will be looking for stocks where the upper and lower RSI
lines are converging. I like to call these conditions CONVERGING
WEDGES.
>
> The criteria of these several different backtests are described
below. To start my backtest learning curve, I will not be concerned
about the slopes of the upper and lower RSI converging lines. My
only criteria is that they must converging fairly rapidly. I think
the below names of backtests will adequately convey what the
additional filters should do.
>
>
> STOCKS WITH RISING LINEAR REGRESSION.
>
> STOCKS IN A MINOR UPTREND
>
> STOCKS IN A MAJOR UPTREND
>
> STOCKS WITH LEVEL LINEAR REGRESSION
>
> STOCKS WITH NO TREND
>
> STOCKS IN A MINOR DOWNTREND
>
> STOCKS IN A MAJOR DOWNTREND.
>
> I welcome all criticism of this concept of finding breakouts from
RSI wedges. Steve's post is pasted below. Ron D
>
>
======================================================================
====================================
>
> Dimitris
>
> I took the liberty of hacking your code to do an exploration.
>
> I added to the bottom of you code for Anticipating Next bar
Support/Resistance the following and it provides me some interesting
stock picks. I filter out thinly traded stocks and stocks that have
an average below 5 over the past month.
>
> This gives me any stocks that are tracking higher on breakout
volume. These have should have some continued momentum. Of course I
check the chart for tightness and other things after this initial
selection process.
>
> Steve
>
> _______________________________
> Filter = Ar>0 AND as>0 AND MA(V,20)>100000 AND MA(C,21)>5 AND (MA
(V,3)/MA(V,21))>1.0;
>
> NumColumns = 5;
> Column1 = MA(V,3)/MA(V,17);
> Column1Name = "MAV(3/17)";" "+WriteVal(MA(V,3)/EMA(V,17));
> Column1Format=1.2;
> Column2 = C;
> Column2Name = "Today's Close ";" "+ WriteVal(C);
> Column2Format=1.2;
> _____________________________
>
>
>
> Dimitris Tsokakis
>
> // Anticipating Next bar Support/Resistance via RSI trendlines
> // An application of G. Siligardos method
> // by D. Tsokakis, June 2003
>
>
>
>
>
>
>
>
> ----- Original Message -----
> From: Steve Wiser
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Saturday, June 14, 2003 9:53 PM
> Subject: Re: [amibroker] Siligardos method : Another application
>
>
> Dimitris
>
> I took the liberty of hacking your code to do an exploration.
>
> I added to the bottom of you code for Anticipating Next bar
Support/Resistance the following and it provides me some interesting
stock picks. I filter out thinly traded stocks and stocks that have
an average below 5 over the past month.
>
> This gives me any stocks that are tracking higher on breakout
volume. These have should have some continued momentum. Of course I
check the chart for tightness and other things after this initial
selection process.
>
> Steve
>
> _______________________________
> Filter = Ar>0 AND as>0 AND MA(V,20)>100000 AND MA(C,21)>5 AND (MA
(V,3)/MA(V,21))>1.0;
>
> NumColumns = 5;
> Column1 = MA(V,3)/MA(V,17);
> Column1Name = "MAV(3/17)";" "+WriteVal(MA(V,3)/EMA
(V,17));
> Column1Format=1.2;
> Column2 = C;
> Column2Name = "Today's Close ";" "+ WriteVal(C);
> Column2Format=1.2;
> _____________________________
>
>
>
> Dimitris Tsokakis
>
> // Anticipating Next bar Support/Resistance via RSI trendlines
> // An application of G. Siligardos method
> // by D. Tsokakis, June 2003
>
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