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Is it possible that the periodicity of your chart is different
than that of your exploration? Or, that in exploration /edit/options, you have a
specific date set.
David
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Kevin
Howard
To: <A
title=Metastockusers@xxxxxxxxxxxxxxx
href="">Metastockusers@xxxxxxxxxxxxxxx
Sent: April 25, 2003 7:19 AM
Subject: [Metastockusers] Exploration
RSI(14) Problems
<SPAN
>Hi Manish and
<SPAN
>Preston<FONT
face=Arial size=2><SPAN
>,
<SPAN
>
<SPAN
><SPAN
>
Thank you both for offering help with my RSI (14) Exploration problems.
I have spent the best part of today trying to move forward but I am still
identifying false positives. That is I am still identifying shares that should
have crossed above the RSI (14) 30 level within the last 5 trading days, but
in fact have not been below RSI (14) 30 during this period. I only have
limited MS programming skills but I have happily used MS for the past 5 years
and I have used my own explorations successfully for much of this time.
However I would say I am a little shaken with the problem I am currently
experiencing.
<SPAN
>
<SPAN
><SPAN
>
Taking each of your posts in turn, I pasted your Exploration code
Manish and it ran smoothly but did not eliminate my “false positive” problem.
I am afraid I was not able to work out the logic behind what looks to be a
nice piece of code, so I could not take it any further. Could you briefly how
you exploration works?
<SPAN
>
<SPAN
><SPAN
>
<SPAN
>Preston<FONT
face=Arial size=2> I picked
up on your suggestion re validation but this has only deepened my concern. I
had previously looked upon validation as being required when there was a
possibility that there may be a logic conflict within an Exploration code. I
would have thought that Alert (Cross (RSI (14), 30), 5) was fairly
unambiguous, (in fact the ‘RSI cross 70’ is given as an “Alert” example on
Page 220 of my User Manual), but apparently not. Nevertheless I have now used
the following as an attempt to validate:
<SPAN
>
<SPAN
><SPAN
>
A: =Alert (Cross (RSI (14), 30), 5);
<FONT
face=Arial size=2>B: =If
(BarsSince (A) <=5, 1, 0); B=1
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>But this
still gave me false positives, i.e. shares that had not been below 30 within
the past 5 trading days. So I ran another exploration this time using the
following filter:
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>BarsSince
(RSI (14) <30) <=5 AND
<FONT
face=Arial size=2>BarsSince
(RSI (14)>30) <=5
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>I also
used my columns A to F to record the RSI (14) values for each of the past 5
trading days using the ‘ref’ function. To my astonishment and despair I still
captured shares whose RSI (14) value had not been below 30 during the past 5
trading days. So is my logic wrong with these attempts to validate or have I
somehow corrupted my MS software or data?
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>I should
add that I definitely take your point about trading whipsaws. The reason why I
am so pedantic about wanting to capture shares only where either RSI (14) has
crossed 30 or MACD () signals ‘Buy’ and desirably to have both occur within
the last few trading days is that I then want to overlay a composite template
over such selected shares, interpret the resultant graph and then act on this
interpretation. The RSI and MACD signals do not form part of the template but
are highly correlated in situations where the template signals a buy or sell
action. On a small sample of shares (5) in real life, the template has given
exceptionally good and unambiguous results. However as I cannot employ all the
parameters used in the template as an exploration or System Tester code, I am
left with having to manually test it on a larger number of potential candidate
shares before I get too carried away with its usefulness as a trading
tool.
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>Two final
points: I too thought that Ref -1 gave yesterday’s value and Ref -2 gave the
trading day before. But now I strongly suspect that it gives the value of the
last and second last day that a particular share or derivative traded. For
example in the first validation attempt used above, I used two of the A-F
column to record the DayOfMonth () and ref (dayofmonth (),-1) values. I fully
expected to see 24 and 23 returned respectively (25 is a public holiday in
<SPAN
>Australia<FONT
face=Arial size=2>). The
majority reflected these values but a substantial minority did not, but did
appear to reflect the last and second last days they traded. So I would
welcome clarification on the reference function. And finally I still would
very much like to filter out derivatives and retain straight stock. So if
there is anyway of filtering on the Ticker Symbol character size within
Metastock, I would greatly appreciate being told about
it.
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>I really
am finding this RSI (14) a difficult problem to solve and yet I know it must
be that I am doing something or some things wrongly. So any further insights
from either of you or any others on the list would be really well received
here.
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2>Thanks
again, Kevin Howard
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2><SPAN
>
<FONT
face=Arial size=2><SPAN
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