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HI jose,
Perhaps u were right about the probability of the indicator to
generate signals, It generated NONE of the signals(I expected) as it
were conflicting.AS u have also given a good name to this indicator.
If I come down to the core of the issue is it possible to narrow it
down to following conditions.Please advise,( in exploration mode)
-) 1)Bullish- (2 bar consecutive) open should be in bottom 20%
of the days range and close in top 20% of days range
2-)Bearish (2 bar consecutive) open should be in top 20% of days
range and close in bottom 20% of days range
IN both cases the bars range should be above avg 10 days range.
Thanks again
--- In equismetastock@xxxxxxxxxxxxxxx, "Jose" <josesilva22@xxxx>
wrote:
>
> Conflicts in your strategy strategy will guarantee that you will
get
> very few signals out of the indicator below.
> For example, the RSI levels are in conflict with the wide-range/
> extreme bars.
> Try RSI levels closer to 50, and also experiment with less severe
> range conditions and perhaps one consecutive bar to start with.
>
> ===========================
> mismatched system indicator
> ===========================
> ---8<--------------------------
>
> { http://users.bigpond.com/prominex/pegasus.htm }
>
> { User inputs }
> pds1:=Input("Consecutive bars",1,21,2);
> pds2:=Input("RSI periods",2,252,14);
> rsBot:=Input("RSI bottom level",0,100,30);
> rsTop:=Input("RSI top level",0,100,75);
> bot:=Input("Bottom range threshold %",
> 0,100,20)/100;
> top:=Input("Top range threshold %",
> 0,100,80)/100;
>
> { Indicators }
> range:=H-L;
> Rseye:=RSI(C,pds2);
>
> { Bullish }
> bull:=O-L<=range*bot
> AND C-L>=range*top
> AND Rseye<rsBot
> AND Rseye>Ref(Rseye,-1)
> AND range>Mov(range,10,S);
> bull:=Sum(bull,pds1)=pds1;
>
> { Bearish }
> bear:=O-L>=range*top
> AND C-L<=range*bot
> AND Rseye>rsTop
> AND Rseye<Ref(Rseye,-1)
> AND range>Mov(range,10,S);
> bear:=Sum(bear,pds1)=pds1;
>
> { Plot signals in own window }
> 0;bull-bear
>
> ---8<--------------------------
>
>
> jose '-)
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, sai20_2000 <no_reply@xxxx>
> wrote:
> >
> >
> > Hello,
> > i want to find out two consecutive bullish or bearish bars , for
> > resp. following conditions
> > 1)Bullish- open should be in bottom 20% of the days range and
close
> > in top 20% of days range and rsi below 30 rising
> > 2) Bearish - open should be in top 20% of days range and close in
> > bottom 20% of days range.and rsi above 75 falling
> > Both the bars range should be above Average daily Range (10)
> > Any suggestions please.
> >
> > Thanks
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