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Buy (X) ESU14 ticks down from RSI Oversold
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Buy (X) ESU14 ticks down from RSI Oversold

  #1 (permalink)
Elite Member
baltimore md/usa
 
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Posts: 16 since Jul 2014
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Buy (X) ESU14 ticks down from RSI Oversold

As the RSI is not perfect, I am looking to increase the entry efficiency of my strategy. I can see that more often than not the market will continue to go down a bit before going up after my rsi oversold buy signal.

Looking for some help with code that will read "if rsi < than oversold buy market at x points or ticks below current price”. Looking to be able to optimize the points-ticks below current price. Any help would be great guys thx!

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  #2 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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robz75 View Post
As the RSI is not perfect, I am looking to increase the entry efficiency of my strategy. I can see that more often than not the market will continue to go down a bit before going up after my rsi oversold buy signal.

Looking for some help with code that will read "if rsi < than oversold buy market at x points or ticks below current price”. Looking to be able to optimize the points-ticks below current price. Any help would be great guys thx!

input: pointoffset(1), oversold(30);

if rsi(close,14) < oversold then buy next bar at close-pointoffset limit;


This will submit a limit order, good for the next bar, to be filled at a price of close - priceoffset .

Just remember when you test to make sure limit orders are filled only when price is penetrated (default fills when price is touched).


This strategy could be a fun one to try in the Battle of The Bots!

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #3 (permalink)
Elite Member
baltimore md/usa
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 16 since Jul 2014
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Thx you sir.Going to give it a try now.I will let you know how it goes.

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