Quote:
Originally Posted by curt504  Greetings,
Has anyone written an RSIWLR filter for one of the back-testing, realtime monitoring applications?
. . . . . . . . . . . . . I suspect that the RSIWLR cross over at a low is a feasible trigger to write logic for (in these tools)
tnx curt |
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HEY
yes curt, many filters have been written and the TER filter i use for my bottom picks is just a slight modification of the original ! Simply scan for the LOW VALUES of the analyzer as a combined scan and youll find your candidates !
please note, while i use the system in real time, the actual purpose of the RSIWLR is to identify playable bottoms, giving ADVANCE notice of movement, allowing one to set up and wait for the uptrend to confirm, so to that end EOD scans work for me (which i usually do on sunday and work with all week)
as far as backtesting is concerned, when i look at a one year chart (or sixth months) IF RECENT RALLIES AND THE INDICATORS COINCIDE, i now consider the stock to be backtested as the further one moves back in history, the more chance that the stock reacts to differing values ! (i know that flies contrary to common wisdom, but i find that if the stock has reacted positively EVERY time for 6 months or a year, then its most likely to do the same thing again !
remember, the analyzer works in any timeframe, and extreme long term trends are reasonably simple to follow also, timing the rises and dips over a multiyear period as easily as over a 3 month chart !
hope that helps
enjoy and trade well
mp