Comment on Code your Technical Analysis strategy

Banti commented on 29 Jul 2013, 03:17 PM

I Could able to see there is Error in RSI In my previous blog i have attached Images where RSI is not changing as per streaming value of Quote its getting changed only after interval which is of no use & you should take care of this
1) see images 1 where there is Large red candle while RSI is not changed it remains 54.91 at 18:30
2) It gets changed after completion of Candle See image 2 at 18:32 (RSI 33.25)
3) Image 3 shows there is no streaming of RSI at 18.36 also it shows Same RSI 33.25
4) Image 4 shows change in RSI when New candle gets generated

Above Example shows that those who are using RSI will get wrong results & may not Exit if there strategy is based on RSI kindly look into this & resolve it at earliest

My Strategy is As below
if EMA3 crossesEMA6 & EMA 6 Crosses EMA9 with MACD Positive crossover &RSI>54 then I will buy
My Buy Exit will be IF RSI >65 I will Exit

I have coded as below please check & reply is it correct or not

Buy Expression
EMA(Close,3)>EMA(Close,6)>EMA(Close,9) AND MACD(26,13,9,EXPONENTIAL)>MACDSIGNAL(26,13,9,EXPONENTIAL) AND RSI (CLOSE, 14) >54
Buy Exit
RSI(CLOSE, 14) > 65

Sell Expression
EMA(Close,3)<EMA(Close,6)<EMA(Close,9) AND MACD(26,13,9,EXPONENTIAL)<MACDSIGNAL(26,13,9,EXPONENTIAL) AND RSI (CLOSE, 14) < 45
Sell Exit
RSI(CLOSE, 14) <35

(A)Suppose I get buy signal pop up as per my strategy & I act on it with predefined stop loss & my Stategy is working as soon as RSI goes 65 will system automatically square off the buy position or will it show pop up again to square off & I need to click on it please confirm
( B) if I made profit I need to cancel my sell stoploss order Manually or will it get cancelled by system
(C) In above case will system again shows buy order if RSI gets lower upto 56

Kindly confirm
Regards,
Banti

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