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General Discussion · ConnorsRSI indicator for thinkorswim charts
dougn
msg #125450
10/7/2015 9:31:53 AM

This code is out there for the Connors RSI (thinkorswim) but when I install it the final line is error. The recoding will not adjust it.

This is what is coming up red as error...
# The final ConnorsRSI calculation, combining the three components
plot ConnorsRSI = (priceRSI + streakRSI + pctRank)



Does anyone know the fix or can provide a workable code for Thinkorswim Connors RSI?

Thank you,
Doug

# ConnorsRSI Indicator
declare lower;
input Price_RSI_Period = 3;
input Streak_RSI_Period = 2;
input Rank_Lookback = 100;
# Component 1: the RSI of closing price
def priceRSI = RSIWilder("price" = close, "length" = Price_RSI_Period);
# Component 2: the RSI of the streak
def upDay = if Close > Close[1] then 1 else 0;
def downDay = if Close < Close[1] then -1 else 0;
def upStreak = if upDay != 0 then upStreak[1] + upDay else 0;
def downStreak = if downDay != 0 then downStreak[1] + downDay else 0;
def streak = upStreak + downStreak;
def streakRSI = RSIWilder("price" = streak, "length" = Streak_RSI_Period);
# Component 3: The percent rank of the current return
def ROC1 = Close/Close[1] - 1;
def rank = fold i = 1 to Rank_Lookback+1 with r = 0 do
r + (getValue(ROC1,i,Rank_Lookback) < ROC1) ;
def pctRank = (rank / Rank_Lookback) * 100 ;
# The final ConnorsRSI calculation, combining the three components
plot ConnorsRSI = (priceRSI + streakRSI + pctRank)

Filter Exchange · TRADING DIVERGENCES ON THE S&P 500
dougn
msg #125064
9/17/2015 3:34:31 PM

Kevin wrote..."The signals generated here are fine, but please realize that I would probably re-optimize the filter settings since it has been a few years since they were developed. That is why I like Stratasearch - I can quickly re-run these against new data and see if the current parameters need updating (my guess is that almost certainly will)."

I would like to be able to address the "revised data" to update these divergence screens. IMO divergences are a much better way to trade with indicators then waiting for a crossover, etc. Unfortunately I am in kindergarten when it comes to optimizing screens. I will sure be watching though and hopefully someone with that knowledge will get it done here at Stockfetcher. Or point me to precisely where I can go to get them.

Thanks,
Doug

Filter Exchange · TRADING DIVERGENCES ON THE S&P 500
dougn
msg #125021
9/16/2015 2:00:51 PM

Thank you Kevin. I can see how this would be extremely valuable for my particular style of trading. Can you help me with the other part fo my question regarding the benefit of installing the code into Stratasearch?

Thanks,
Doug

Filter Exchange · TRADING DIVERGENCES ON THE S&P 500
dougn
msg #125011
9/16/2015 9:31:10 AM

New member question...
1. What is the need for running these searches at Stratasearch if they are producing signals here?

2. One of today's searches has produced what appears to be two entry signals? Am I interpreting this correctly (referring to the pair of blue boxes side by side where I believe the trade signals are)?

Thanks!
Doug

http://screencast.com/t/EifpvAOD9HYz



Filter Exchange · Request for Filter Help fron New User
dougn
msg #124965
9/13/2015 10:57:48 AM

thank you four...makes perfect sense!
Doug

General Discussion · link
dougn
msg #124960
9/12/2015 10:43:03 AM

Appears that whenever the pins are above/outside the band the market bounces?

Filter Exchange · Request for Filter Help fron New User
dougn
msg #124959
modified
9/12/2015 10:39:03 AM

I hope this is the correct place to post this question.

My trading experience is pretty good but code and filter writing experience is at the kindergarten level. The hope is some of you might help me figure out how to complete this filter to test and see if its any good.

The purpose of the filter is to catch stronger stocks or etfs that are above their EMA (200) but are experiencing temporary weakness and with a bounce yesterday.

So using RSI (2) as I've had some success with this oversold reversion to the mean trade.

Here is what I have so far...
Price above 5
Volume > 100000
RSI(2) 1 day ago was below 20 for the last 2 days
and RSI(2) crossed above 20
and draw RSI(2) line at 80
and draw RSI(2) line at 20

So as it states RSI(2) deeply oversold for the last 2 days then yesterday bounces to above the 20 line. So:
1. I'm not sure if this is even correct so far
2. I want this to only apply to symbols that are above the EMA (200) and I don't know how to get that in.

As your help clarifies and completes the filter the plan is to reverse it to seek out that will look for shorts that are experiencing a bounce but that are under the EMA (200).

Thanks!
Doug



Filter Exchange · \"HIGH PROBABILITY ETF TRADING\" BY LARRY CONNORS - GET YOUR FILTERS HERE!
dougn
msg #124701
modified
8/21/2015 1:29:50 PM

In his book " High Probability ETF Trading" Connors states that if the etf has crossed the 200dma do not enter the trade.

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