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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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