RSI Indicator over 70 below 30

[fercho]

Hi,

I'm trying to develop an indicator that draw a number 1 when RSI is above 70 and -1 when it's below 30.

int above =(RSI(14, 3)[0] >= 70 ? 1:0);
int below =(RSI(14, 3)[0] <= 30 ? -1:0);


Over70.Set(above);
Below30.Set(below);

Ok. Everything works. But now I'd like to for example, when RSI crossses above 70 remains on 1 as far RSI crosses below 30, and again, remains drown -1 as far RSI goes above 70.

I mean only 1111111111 or -1-1-1-1-1-1 plotted on the chart.

Thanks for help.

[NinjaTrader_Bertrand]

fercho, then just don't set the int to 0 if the condition is not valid anymore, so it would only change on cross of the RSI of 30 / 70.

[fercho]

well how to code that?

I can´t figure out your idea sorry

thanks

[NinjaTrader_Bertrand]

We could unfortunately not custom code or modify this for you - but there are a number of certified NinjaScript consultants available that could assist in this : http://www.ninjatrader.com/partners#...pt-Consultants

[koganam]

well how to code that?

I can´t figure out your idea sorry

thanks

It might be simpler, and definitely less resource intensive, if you used a single line and a single plot instead.

 
private int plotSetter = 0; // this must be declared outside the [I]OnBarUpdate()[/I] method; best in the [I]Variables[/I] section.
 
plotSetter = (RSI(14, 3)[0] >= 70) ? 1 : (RSI(14, 3)[0] <= 30) ? -1 : plotSetter;
 
ExtemeValue.Set(plotSetter);

[fercho]

Perfect!

Thanks konagam for the code !

I was coded st more complex and more resources consumer

Initialize

BarsRequired = 2000;

OnBarUpdate

int x = (MRO(delegate {return RSI(Period, 3)[0] >= 70;},1, 2000) < MRO(delegate {return RSI(Period, 3)[0] <= 30;},1, 2000) ? 1 : -1);
Bull.Set(x);

[koganam]

Thanks konagam for the code !

I was coded st more complex and more resources consumer

Initialize

BarsRequired = 2000;

OnBarUpdate

int x = (MRO(delegate {return RSI(Period, 3)[0] >= 70;},1, 2000) < MRO(delegate {return RSI(Period, 3)[0] <= 30;},1, 2000) ? 1 : -1);
Bull.Set(x);

Your code looks workable: there are usually many ways to code the same thing. But, did you really mean to say that no calculations should be done until there are 2000 bars available?! That is an awful lot of bars before starting, especially when the NT default lookback is only 256 bars.

[fercho]

Yeap, it was on beta v.007 -

Thanks again for the simpliest way!

Now I'm working on using MACD as stop loss reference.

For ex, when BUY signal happens, set the MACD value at this entrypoint as StopLoss. So if after that MACD goes lower than the entry MACD value, the exit and close position...

if (CrossAbove(RSI(14, 3), 30, 1))
{
EnterLong(DefaultQuantity, "Long");
SetStopLoss(CalculationMode.Price, MACD(12,26,9)[0]);
}

But MACD goes lower than MACD entry point and Nothing happens

[koganam]

Yeap, it was on beta v.007 -

Thanks again for the simpliest way!

Now I'm working on using MACD as stop loss reference.

For ex, when BUY signal happens, set the MACD value at this entrypoint as StopLoss. So if after that MACD goes lower than the entry MACD value, the exit and close position...

if (CrossAbove(RSI(14, 3), 30, 1))
{
EnterLong(DefaultQuantity, "Long");
SetStopLoss(CalculationMode.Price, MACD(12,26,9)[0]);
}

But MACD goes lower than MACD entry point and Nothing happens

The part that I have highlighted in red means that you are setting your StopLoss to the value of the MACD, which rarely goes above 10, if that. After all it is just the difference between 2 EMA's! In fact, many times, your StopLoss is going to end up being negative for Long positions, as the MACD is often beneath zero when a bullish cross takes place, and even if you choose to use the zero-line cross instead, then your StopLoss is going to be very close to zero, and so will almost never trigger except on some really low-priced penny stock.

You want to use some corresponding price to your planned MACD point at which you are setting the StopLoss.

[fercho]

Well the Idea was on Gerald Appeld (MACD Book "Power Tools for Active Investors"), he talks about using the MACD entry level as stop loss point.

See the chart attached.

thanks for reply!

[koganam]

Well the Idea was on Gerald Appeld (MACD Book "Power Tools for Active Investors"), he talks about using the MACD entry level as stop loss point.

See the chart attached.

thanks for reply!

I repeat: "You want to use some corresponding price to your planned MACD point at which you are setting the StopLoss. "

Which, incidentally is what your picture shows. The StopLoss is predicated on the Price at the time that the MACD crossed over, NOT the value of the MACD. Reread the book,