The "RSI 2P" from Larry Connors

Hi all,

Here is another strategy from Larry Connors, that I did coded for us.

It was designed for M30 timeframe, on various indices / forex / raw materials. But my tests show that is is most of time unprofitable.

I also find that some values are profitable with it, on higher timeframes.

For example as show in the backtest picture (CFD Germany 30, 1€ per point, spread 1 point, daily timeframe).

RULES aver very simple :

BUY if :

• close > SMA200
• RSI2 < 5

CLOSE BUY if :

• close > SMA5

That’s all.

Opposite rules for SELL positions.

Larry Connors didn’t use stop loss ; but you can set one.

// RSI 2P
// de Larry Connors
// www.doctrading.fr

DEFPARAM CUMULATEORDERS = false
n = 3   // mettre ce que vous voulez

// INDICATEURS
MM200 = average[200](close)
MM5 = average[5](close)
RSI2 = RSI[2](close)

// ACHAT
ca1 = close > MM200
ca2 = RSI2 < 5

IF ca1 and ca2 then
 BUY n shares at market
ENDIF

// SORTIE ACHAT
IF close > MM5 THEN
 sell at market
ENDIF

// VENTE
cv1 = close < MM200
cv2 = RSI2 > 95

IF cv1 and cv2 THEN
 SELLSHORT n shares at market
ENDIF

// SORTIE VENTE
IF close < MM5 THEN
 exitshort at market
ENDIF