Buy (X) ESU14 ticks down from RSI Oversold

July 23rd, 2014, 06:17 PM

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!

kevinkdog · July 23rd, 2014, 09:21 PM

robz75

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!

July 24th, 2014, 11:02 AM

Thx you sir.Going to give it a try now.I will let you know how it goes.

Buy (X) ESU14 ticks down from RSI Oversold

Discussion in TradeStation

Buy (X) ESU14 ticks down from RSI Oversold