RSI(2) - The Little Indicator That Could - StockFetcher.com Stock Screener

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wallman 299 posts msg #36147 - Ignore wallman	5/30/2005 10:05:36 PM when developing my method i spent over 2500 hrs over a 9 month period charting every under $10 stock in the universe i could find to try to come up what would work for me,mind you,this WASN'T using SF for bascktesting,this was as it was happening,using SF for backtesting stuff on various filters can look real good or bad until you actually break each stock down individually,a ton of work but if you want it as your living,you gotta want it bad enough to put some work into it
burzin 3 posts msg #36183 - Ignore burzin	6/3/2005 4:22:00 AM I was playing with the Weekly RSI(2) filter and fine tuning it simply blasts away any previous returns I have seen so far on any other system, and this isnt with micro cap stocks either. Whoever came up with RSI(2), major props to you. Fetcher[WEEKLY RSI(2) 1 day ago has been ABOVE 99.7 for the last 5 days and the WEEKLY RSI(2) is below 99.7 and AVERAGE VOLUME > 100000 AND CLOSE ABOVE 5 and close is below open] Just short and close after 5 days. I get a 220% annualized return and thats not even trading microcaps and an 80% reliability rate!!! The problem with the RSI above 99.7 is that it only gets a few picks a year. I was studying Weekly RSI(2) some more, and I notice that whenever the indicator does a sharp dip after a rise, it serves as a very effective early warning system. I am unable to get the filter to pick the exact spots I want though. This is the closest I have come up with. Fetcher[show stocks where the Weekly RSI(2) 1 day ago gained more than 10% over the last 3 days and weekly RSI(2) 1 day ago increased for the last 3 days and weekly RSI(2) lost more than 1% and average volume(90) is above 100000 and close is above 10 and close dropped more than 0.5 points] If anyone can help improve it, it would be a major plus. I want it to pick up stocks as soon as their Weekly RSI(2) breaks the uptrend and starts going down. This is a great site!
burzin 3 posts msg #36185 - Ignore burzin	6/3/2005 4:55:14 AM Found the original post. It was mary4ever who came up with the Weekly RSI(2) filter here - http://www.stockfetcher.com/stockdb/fetcher?p=forum&sub=view&fid=1002&tid=36081. I fine tuned it so it gives me exact entry points and it works pretty well. Now if I can just figure out what criteria is to pick up Weekly RSI(2) as soon as it enters a downtrend...I tried using slope of, but that doesnt work either. As an example of what I mean, look at the chart of MRVL for 25 April 05. Even though the price went up that day, the Weekly RSI(2) dropped, and the stock gave some good gains for shorts over the next 3 days. How do I pick that point using Stock Fetcher? Thanks for your time people. Any help is much appreciated.
brokedown 21 posts msg #36188 - Ignore brokedown	6/3/2005 8:04:01 AM I sugjest you read how the weekly rsi is calculated. See the thread "Weekly indicator flaw" under the comments and bugs section. Weekly indicators are a floating calculation and are only "weekly" on saturday. If you are going to use them on a daily basis, I would urge extreme caution. Tom
shelupinin 120 posts msg #36189 - Ignore shelupinin	6/3/2005 8:38:00 AM Hi ! I really like RSI... Just an example of good filter which using RSI: Fetcher[ RSI(2) < 1 and RSI(15) below 30 and price is above 5 and volume is above 100000] Try to backtest it with 1% "stop loss", no "profit stop" and "Maximum holding days" equals 1. You'll see about 300% ROI... and it's for filter which uses stock over 5 USD price, so you can use margin at you broker...
burzin 3 posts msg #36191 - Ignore burzin	6/3/2005 1:11:53 PM Brokedown, thanks for the post. I am going to paper trade for a few weeks just by eye balling charts with Weekly RSI(2) set ups right now to see how it fares in the real world. My broker offers a real time simulation with commision costs, slippage etc, so it should give a pretty real vision. I still havent figured out how to program SF to pick up the Weekly RSI(2)downtrend on the first day though. Any ideas on that are appreciated. Shel, I backtested your indicator and it certainly gives the return promised. Very impressive. I guess the actual returns are going to be lower due to commission costs since you are going to get stopped out most of the time because of the 1% threshold. I am going to play with it to see if I can get the reliability up. I will let you know what I come up with.
janeiro 25 posts msg #36196 - Ignore janeiro	6/4/2005 7:40:53 AM shel....though i trust in the power of rsi 2...i dont get the same result u had....uhm....too strange... Approach Information Approach Name: unnamed approach Test started on 12/31/2004 ended on 04/25/2005, covering 78 days Filter used: RSI(2) < 1 and RSI(15) below 30 and price is above 5 and volume is above 100000 Trade Statistics There were 1402 total stocks entered. Of those, 1385 or 98.79% were complete and 17 or 1.21% were open. Of the 1385 completed trades, 322 trades or 23.25%resulted in a net gain. Your average net change for completed trades was: -0.95%. The average draw down of your approach was: -1.72%. The average max profit of your approach was: 1.79% The Risk/Reward ratio for this approach is: 0.15 Annualized Return on Investment (ROI): -523.50%, the ROI of ^SPX was: -13.43%. Exit Statistics Stop Loss was triggered 765 times or 55.23% of the time. Stop Profit was triggered 0 times or 0.00% of the time. Trailing Stop Loss was triggered 0 times or 0.00% of the time. You held for the maximum period of time (1 days) 620 times or 44.77% of the time. An exit trigger was executed 0 times or 0.00% of the time. Entry Filter RSI(2) < 1 and RSI(15) below 30 and price is above 5 and volume is above 100000 Basic Setup Name: unnamed approach Approach Type: Long Start Date: 12/31/2004 End Date: 04/25/2005 Benchmark Symbol: ^SPX Exit Setup Stop Loss: 1% Profit Stop: N/A Trailing Stop Loss: N/A Minimum Holding Days: N/A Maximum holding days: 1 Extra Indicators Entry Columns: Show Performance After: after 2 days after 5 days after 10 days after 25 days after 40 days Advanced Options Selection Method: select by volume descending Entry Price: open is 3% above yesterday close Conditional Entry: No Exit Price: open Maximum Trades Per Day: 25 Maximum Open Positions: 250 UHm...TOO STRANGE...
corsino 259 posts msg #36203 - Ignore corsino	6/4/2005 2:36:49 PM Shelupinin I also clicked on your filter to backtest it: period : 12/31/2004 to 06/03/05 Stop loss: 1% Max holding period : 1 Some of the results: W/L : 33%/65% Risk/reward : 1.21 ROI : 71.93% But I'm wondering the practicality of 1% loss stops. It seems a very tight %, at least to me.
roca1018 163 posts msg #36208 - Ignore roca1018	6/5/2005 6:56:25 AM Has anyone backtested stocks with rsi(2)under 1 and green 10 or 15 minutes after the open to see if they close green over 50% of the time? It seems that a number of stocks that you would have entered do not hold up and either close unc or down. the most recent example is SVSE on 5/31. Are there other indicators that confirm that a stock turning green stays green? Thanks, Rich
TheRumpledOne 6,529 posts msg #36215 - Ignore TheRumpledOne	6/5/2005 11:30:05 AM ROCA... Look at a 3mon/daily www.prophet.net chart with rsi(2) AND LINEAR REGRESSION. SVSE is in a DOWNTREND!! The ema(13) crossed below the ema(26) on 5/23/2005.. that's THE KISS OF DEATH! On these plays, you have to be in/out quick!! Not to mention, look at a 10day/60min chart... same thing...ema(13) below ema(26). You have to wait for the stock to rise above the ema(5)(daily and/or 60 minute) to stay in the stock, otherwise it is a scalp at best. The name of the game is RECONIZING THE TREND. So if you can't watch all day, let me suggest you start using the price crossing above the ema(5) as your guide. Just make sure the TREND is heading UP if you are trading long. MAY ALL YOUR FILLS BE COMPLETE. P.S. One positive note about SVSE, looking at the 1year/week chart a lower price is making a higher rsi(2)... that's positive divergence! WAIT FOR GREEN and get ready to LOAD THE BOAT!!

StockFetcher Forums · Filter Exchange · RSI(2) - The Little Indicator That Could

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