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Hi all,
Im trying to develop an index filter for my system.
The index filter will act as an on/off switch for the system.
Since my system is not long term enough to use a moving average type
filter, what I am thinking is something as simple as:
Switch off the system (ie. do not take any new entry triggers, but
current open positions are still kept and exit rules apply to these)
when the close of the bar is lower than the last bar.
My system is weekly, so it would be, switch off the system, if this
weeks close is lower than last weeks close.
This would stop the system from buying when the market is in a
downtrend, even for the short term.
I think its an idea at least worth testing. But coming up with ideas
is one thing, coding them is another!!
I intend the index filter to be applied to the XAO (All Ordinaries)
index on the ASX.
Any thoughts as to how i would even start constructing one of these
index filters?
Thanks.
Any help is much appreciated.
Nizar.
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