RSI condition

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  • #34879 quote
    Fredrik
    Participant
    New

    Hi guys,

    Trying to get my head round how to get a condition when RSI has been above 75 and is breaking below 70. I can create them independently but can’t see how I can get the RSI above 75 for last x candles…

    _rsi = RSI[21](close)
    c1 = (_rsi > 75)
    c2 = (_rsi CROSSES UNDER 70)

    Thanks!

    #34887 quote
    victormork
    Participant
    Veteran

    Hi Fredrik! Maybe try with rsi open or high above 75 and then crossing under. The condition is only valid for the last candle.

    #34905 quote
    Fredrik
    Participant
    New

    Hi, thanks, ok wanna guide me? 🙂

    _rsi = RSI[21](close) // This is calculating the 21 last bars on the closing prise right?
    
    c1 = _rsi[3](high) // Something like this? rsi high value on the 3:rd candle back in time?
    #34910 quote
    victormork
    Participant
    Veteran

    The number in your RSI[14] is referring to the amount of periods used to calculate the RSI value for the LATEST CLOSED candle. As far as I know you can’t use the RSI value from three bars back on your latest bar. However, if you use a very short period to calculate RSI, lets say 2 periods, then you have a greater chance of having the same candle crossing through both the value 75 and 70 at the same time.

    I was thinking like this:

    // Definition of code parameters
    DEFPARAM CumulateOrders = False // Cumulating positions deactivated
    DEFPARAM Preloadbars = 100
    //indicaator
    indicator1 = RSI[2](close)
    
    // Conditions to enter short positions
    c1 = (indicator1 CROSSES UNDER 70)
    c2 = (high > (indicator1 = 75))
    
    IF c1 THEN
    SELLSHORT 1 CONTRACT AT MARKET
    ENDIF
    
    // Conditions to exit short positions
    c2 = (indicator1 CROSSES UNDER 30)
    
    IF c2 THEN
    EXITSHORT AT MARKET
    ENDIF

    Try this code on EURUSD 1 H and you will see. OBS there is no stop loss in place!

    Lycka till!

    Fredrik and Nicolas thanked this post
    #34923 quote
    Fredrik
    Participant
    New

    Ahh, thanks alot Victor!

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RSI condition


ProOrder: Automated Strategies & Backtesting

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Fredrik @fredrik Participant
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This topic contains 4 replies,
has 2 voices, and was last updated by Fredrik
8 years, 10 months ago.

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Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 05/09/2017
Status: Active
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