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Give a couple stocks that fail...
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----- Original Message -----
<DIV
>From:
Kevin
Howard
To: <A
title=Metastockusers@xxxxxxxxxxxxxxx
href="">Metastockusers@xxxxxxxxxxxxxxx
Sent: Friday, April 25, 2003 8:23
AM
Subject: RE: [Metastockusers] Exploration
RSI(14) Problems
<SPAN
>Hi
David,
<SPAN
>
<SPAN
><SPAN
>
Thanks for your suggestions. All my explorations are set at “Daily”
Periodicity and “Most Recent Date” and all the charts I have checked,
including false positives, are showing “D” for Daily. I do have 2 or 3 Layouts
that show charts in Weekly mode but to the very best of my knowledge all of
the base charts are Daily and in any event none of the shares in these layouts
are being captured in the RSI(14) explorations .
<SPAN
>
<SPAN
><SPAN
>
Kevin
<SPAN
><SPAN
>
<SPAN
>
<SPAN
>
<SPAN
>-----Original
Message-----From: DAVID H.
LINTON [mailto:dhlinton@xxxxxxxxxxxx] <SPAN
>Sent: <st1:date Year="2003"
Day="25" Month="4"><SPAN
>Friday, 25 April
2003<SPAN
> <st1:time
Minute="22" Hour="21"><SPAN
>9:22
PM<SPAN
><SPAN
>To:
Metastockusers@xxxxxxxxxxxxxxx<SPAN
>Subject: Re: [Metastockusers] Exploration
RSI(14) Problems
<FONT face="Times New Roman"
size=3>
<FONT face="Times New Roman"
size=2>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.
<FONT face="Times New Roman"
size=2>David
<BLOCKQUOTE
>
<SPAN
>----- Original Message -----
<FONT
face=Arial size=2><SPAN
>From:<FONT
face=Arial size=2> <A
title=kjhoward@xxxxxxxxxxxxxx href="">Kevin
Howard
<FONT face=Arial
size=2><SPAN
>To:<FONT
face=Arial size=2> <A
title=Metastockusers@xxxxxxxxxxxxxxx
href="">Metastockusers@xxxxxxxxxxxxxxx
<FONT face=Arial
size=2><SPAN
>Sent:<FONT
face=Arial size=2>
<FONT face=Arial
size=2>April 25,
2003<SPAN
> <st1:time
Minute="19" Hour="7"><SPAN
>7:19
AM<SPAN
>
<FONT face=Arial
size=2><SPAN
>Subject:<FONT
face=Arial size=2>
[Metastockusers] Exploration RSI(14)
Problems
<FONT face="Times New Roman"
size=3><SPAN
>
<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><SPAN
>BarsSince (RSI (14) <30)
<=5 AND
<FONT
face=Arial size=2><SPAN
>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 <FONT
face=Arial size=2><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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