einok
msg #93092
- Ignore einok |
5/24/2010 11:19:12 AM
I am wanting to trigger an exit when the RSI closes below 60 and the next day closes below the low of that day.
However, if RSI closes back above 60 then at some point goes back below 60, I would like to use that new low as my exit.
This is the way I have it set up in the Backtesting, but for some reason it doesn't seem to be working.
close is below low 1 day ago and RSI(15) 1 day ago crossed below 60
Thanks for the help
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Kevin_in_GA
4,599 posts
msg #93093
- Ignore Kevin_in_GA |
5/24/2010 11:25:49 AM
I am wanting to trigger an exit when the RSI closes below 60 and the next day closes below the low of that day.
However, if RSI closes back above 60 then at some point goes back below 60, I would like to use that new low as my exit.
This is the way I have it set up in the Backtesting, but for some reason it doesn't seem to be working.
close is below low 1 day ago and RSI(15) 1 day ago crossed below 60
Thanks for the help
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"However, if RSI closes back above 60 then at some point goes back below 60, I would like to use that new low as my exit."
What are you saying here? Only if the rsi crosses 60 from above AND the close is a new low?
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einok
msg #93094
- Ignore einok |
5/24/2010 12:11:38 PM
Hi Kevin,
Re:
"However, if RSI closes back above 60 then at some point goes back below 60, I would like to use that new low as my exit."
What are you saying here? Only if the rsi crosses 60 from above AND the close is a new low?
Yes, I think you are understanding what I am trying to do.
To clarify.
1. RSI closes below the 60 level
2. The low price of that day is not closed below on the following day (still in the trade) OR The low price of that day is closed
below on the following day (out of the trade)
Scenario if RSI closes back above 60
1. RSI closes back above 60
2. RSI closes back below 60
3. The new low is higher than the previous low (I'm trying to get this to act as a trailing stop)
4. This back and forth above 60 could continue for some time (each time creating a higher low; therefore a higher trailing stop)
Thanks and hope this is possible and also makes sense.
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