RSI(2) On QQQ (Nasdaq) (Amibroker And Tradestation Code)

The strategy in plain English:

 

1. RSI(2) must be lower than 10.
2. IBS must be lower than 0.2 (Internal Bar Strength (IBS)).
3. If both 1 and 2 are true, then enter at the close.
4. Exit at the close when today’s close is higher than yesterday’s high.

 

 

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Amibroker code:

 

setOption(“holdminbars”,1);

ibs=(C-L)/(H-L) ;

Buy=RSI(2)<10 AND ibs<0.2;

buyPrice= Close;

Sell= C>Ref(H,-1);

sellPrice= Close ;

 

 

Tradestation code:

 

If rsi(c,2)<10
and IFF((H-L)<>0,((C-L))/(H-L),1) <= 0.2
then buy this bar at close;
If c>h[1] then sell this bar at close;

 

Disclosure: We are not financial advisors. Please do your own due diligence and investment research or consult a financial professional. All articles are our opinions – they are not suggestions to buy or sell any securities.