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Kevin,
Interesting problem. I'm not in front of my metastock computer right
now but will check into the problem later this evening when I am.
Have you compared the RSI values with another data set. One thing
that I will do and Rich you might want to check this as well is go to
Downloadquotes.com. There, can set up a chart of International Charts
with a 14day RSI on it. Should be easy to compared the Metastock
values to the Downloadquote values.
Kevin, I wonder if you are exploring a large number of periods...say
greater than a year(258 days) and if your chart has the same number
of periods on it? Just another place to look.
More later,
Preston
--- In Metastockusers@xxxxxxxxxxxxxxx, "Kevin Howard" <kjhoward@xxxx>
wrote:
> Hi Rich and Ellen,
>
> All examples are Australian Equities which
last
> traded on 24 April 2003 Australian time.
>
> Gradipore (GDP); Progen (PGL); Roberts
(RBS);
> and Brazin (BRZ). The first three have not dipped below RSI (14) 30
> during the past 5 days and the last Company is not showing as rising
> above 30 on my charts.
>
> I hope these Companies mean something to
you and
> that you can spot the problem. This is driving me crazy.
>
> Thanks, Kevin
>
> -----Original Message-----
> From: richandellen [mailto:richandellen@x...]
> Sent: Friday, 25 April 2003 10:33 PM
> To: Metastockusers@xxxxxxxxxxxxxxx
> Subject: Re: [Metastockusers] Exploration RSI(14) Problems
>
> Give a couple stocks that fail...
> ----- Original Message -----
> From: Kevin Howard <mailto:kjhoward@x...>
> To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: Friday, April 25, 2003 8:23 AM
> Subject: RE: [Metastockusers] Exploration RSI(14) Problems
>
> Hi David,
>
> 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 .
>
> Kevin
>
>
> -----Original Message-----
> From: DAVID H. LINTON [mailto:dhlinton@x...]
> Sent: Friday, 25 April 2003 9:22 PM
> To: Metastockusers@xxxxxxxxxxxxxxx
> Subject: Re: [Metastockusers] Exploration RSI(14) Problems
>
> 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
> ----- Original Message -----
> From: Kevin Howard <mailto:kjhoward@x...>
> To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: April 25, 2003 7:19 AM
> Subject: [Metastockusers] Exploration RSI(14) Problems
>
> Hi Manish and Preston,
>
> 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.
>
> 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?
>
> Preston 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:
>
> A: =Alert (Cross (RSI (14), 30), 5);
> B: =If (BarsSince (A) <=5, 1, 0); B=1
>
> 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:
>
> BarsSince (RSI (14) <30) <=5 AND
> BarsSince (RSI (14)>30) <=5
>
> 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?
>
> 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.
>
> 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 Australia). 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.
>
> 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.
>
> Thanks again, Kevin Howard
>
>
>
>
>
>
>
>
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