Combining ADX And RSI On The S&P 500 (Amibroker And Tradestation Code)

The strategy in plain English:

 

ADX is often a useful indicator coupled with other indicators. Here’s one example which works well in S&P 500:

1. The two-day RSI must be lower than 15.
2. The five-day ADX must be higher than 35.
3. If 1 and 2 are true, then buy at the close.
4. Exit at the close when the close is higher than yesterday’s high.

 

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Amibroker code:

 

Buy= RSI(2)<15 AND ADX(5)>35;
buyPrice=Close;
Sell= C>Ref(H,-1);
sellPrice=Close ;

 

 

Tradestation code:

if rsi(c,2)<15 and adx(5)>35 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.