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Dimitris, thanks for the clarification. I
assumed that when upper and lower RSI lines become closer
together at the end of each new trading day, that they would be referred
to as converging, and those RSI lines which move away from each other as time
passes would be referred to as diverging. Thanks for
the clarifcation. Are there any one word adjectives
that traders can use to differentiate the two when posting
discussions about these wedges? Also, how about my use of the term
wedges? I have already received a private email asking if it is OK to add
sour cream to these wedges. Ron D
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
DIMITRIS
TSOKAKIS
To: <A title=amibroker@xxxxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, June 18, 2003 3:29
AM
Subject: [amibroker] Re: BACKTESTING FOR
RSI WEDGES
Ron,just one note, to make life easier.Wedges *are*
converging in one way or another.See for example<A
href="">http://www.chartpatterns.com/wedges.htmDT---
In amibroker@xxxxxxxxxxxxxxx,
"mrdavis9" <mrdavis9@x...>
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> > Yahoo!
Groups Sponsor >
> >
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