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Bharat,
You have written 3 multiple conditions. I have outlined them in their
condition groups below.
My advice would be to rethink your groupings and conditions. A lot of
your code is not necessary.
As an example the last line:
((CLOSE - LOW) - (HIGH - CLOSE)) / (HIGH - LOW) * VOLUME
Is of no value to your signal and could be removed.
Also remember that the ALERT function will hold a condition true for
the periods you have specified, in your case 9.
My advice would be to take each condition set and test each as an
indicator. You should then be able to identify the various elements
that are giving you false signals.
Divergences are usually programmed using the peak and trough and I do
not advise using either due to their dynamic nature.
the April 2003 edition of Technical Analysis of Stocks and
Commodities had an article entitled "Detecting Breakouts" by Markos
Katsanos which gave five ways to determine divergences and provides
the formulae for three. These formulae are available on the internet
at Traders' Tips from TASC Magazine at www.equis.com.
{Condition 1}
(RSI(9) <= LLV(RSI(9),9) AND CLOSE > LLV(CLOSE,9)) OR
{condition 2}
(CLOSE >= HHV(CLOSE,9) AND
RSI(9) < HHV(RSI(9),9)) AND
OBV() <= LLV(OBV(),9) AND
CLOSE > LLV(CLOSE,9) OR
{condition 3}
(CLOSE >= HHV(CLOSE,9)) AND
OBV() < HHV(OBV(),9) AND
(Alert(RSI(9)>70,9)) AND
((CLOSE - LOW) - (HIGH - CLOSE)) / (HIGH - LOW) * VOLUME
Hope this helps,
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, bharat_parth2005
<no_reply@xxx> wrote:
>
> Hi,
>
> I have created expert advisor using alert function for diversion to
> get sell signal only when RSI was above 70 in last 9 periods.But it
> seems I am missing something,because I am getting sell signals at
> wrong places.Pl. guide.
>
> (RSI(9) <= LLV(RSI(9),9) AND CLOSE > LLV(CLOSE,9)) OR (CLOSE >= HHV
> (CLOSE,9) AND RSI(9) < HHV(RSI(9),9))
> AND (OBV() <= LLV(OBV(),9) AND CLOSE > LLV(CLOSE,9)) OR (CLOSE >=
HHV
> (CLOSE,9)) AND OBV() < HHV(OBV(),9) AND (Alert(RSI(9)>70,9)) AND
> ((CLOSE - LOW) - (HIGH - CLOSE)) / (HIGH - LOW) * VOLUME
>
>
>
> Bharat
>
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