Over RSI for a set period

• 09/06/2023 at 2:27 PM #220429
  nightjimbob

  In commodities like oil and gas the market loves to squeeze users who enter a short or long because RSI passes a certain threshold, because as an indicator it leads to many jumping the gun, while MACD is too much of a lag.

  Is there a way to code to not just measure RSI going above a level, but put an optimised condition of how long above that level it stays before entering a short or long. (Not the frequency it hits the level)

  

  nightjimbob

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  09/06/2023 at 3:22 PM #220430
  JS

  Hi,

  You can indeed introduce an extra condition to determine and optimize the number of bars above a certain level…

   

  RSI System

  DefParam CumulateOrders=False Once OBCount=0 Once OSCount=0 If RSI[20](Close)>70 then OBCount=OBCount+1 EndIf If OBCount>xOB then SellShort 1 contract at Market OBCount=0 EndIf If RSI[20](Close)<30 then OSCount=OSCount+1 EndIf If OSCount>xOS then Buy 1 contract at Market OSCount=0 EndIf

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22

  DefParam CumulateOrders=False   Once OBCount=0 Once OSCount=0   If RSI[20](Close)>70 then OBCount=OBCount+1 EndIf   If OBCount>xOB then SellShort 1 contract at Market OBCount=0 EndIf   If RSI[20](Close)<30 then OSCount=OSCount+1 EndIf   If OSCount>xOS then Buy 1 contract at Market OSCount=0 EndIf

  

  JS

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  09/06/2023 at 3:23 PM #220434
  robertogozzi

  This example will make sure that RSI has always been in OverBought in the last 10 bars:

  N = 10 myCond = (summation[N](rsi[14](close) > 70) = N)

  1 2	N      = 10 myCond = (summation[N](rsi[14](close) > 70) = N)

  add myCond to your conditions to enter a trade.

   

  

  robertogozzi

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  09/06/2023 at 3:49 PM #220439
  nightjimbob

  THanks both! Will give it a go

  

  nightjimbob

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