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The code that I hacked was above the code I attached to the
bottom. The hacked code does nothing to the code I shared.
The hack that I did to the code above makes the indicator a little more
easy for me to see what is going on. I essentially made a velocity
indicator off the OBV() code that
Dimitris
provided.
Check out the pane that I am including to see what I am talking
about that uses Dimitris'
code. Note that I have arrows on this pane. When I am
comparing several systems I have several panes on the same sheet
comparing entries and exists. This is just an interesting exercise
for me. The second pane below is a price history for the same
period. This shows a little about how I compare systems to confirm
price movements.
Steve
At 12:55 AM 6/18/2003 -0500, you 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
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