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Ron,
I follow http://www.chartpatterns.com/ terminology, I think it is OK
for common understanding.
Diverging lines do not consist a wedge, they are just diverging
lines. You will have better perception if you wait for a while, they
will converge sooner or later...
DT
--- In amibroker@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx> wrote:
> 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
>
>
> ----- Original Message -----
> From: DIMITRIS TSOKAKIS
> To: 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
> 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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