Trading Strategies from Active Trader Magazine

RSI Trend System

The following formulas were written for use in an Expert Advisor. To use them, open the expert advisor from the Tools menu. Select New and then move to the symbols tab. For each of the following formulas, click New to make a new symbol. Enter the name and the formula. Then select the graphics tab to set the symbol, color and placement desired.

Name: Enter Long
Formula:
r:=RSI(14);
bc:=Cross(r,75);
sc:=Cross(25,r);
trade:=If(PREV=0,If(bc,1,0),
If(sc OR (PREV=20),0,PREV+1));
trade=1

Name: Enter Short
Formula:
r:=RSI(14);
bc:=Cross(r,75);
sc:=Cross(25,r);
trade:=If(PREV=0,If(sc,1,0),
If(bc OR (PREV=20),0,PREV+1));
trade=1

Name: Exit Long
r:=RSI(14);
bc:=Cross(r,75);
sc:=Cross(25,r);
trade:=If(PREV=0,If(bc,1,0),
If(sc OR (PREV=20),0,PREV+1));
Cross(trade=0,0.5)

Name: Exit Short
r:=RSI(14);
bc:=Cross(r,75);
sc:=Cross(25,r);
trade:=If(PREV=0,If(sc,1,0),
If(bc OR (PREV=20),0,PREV+1));
Cross(trade=0,0.5)

The same formulas listed above can be put into the columns of an exploration. Put each one into a separate formula and use the following formula for the filter:

cola AND colb AND colc AND cold

The formulas can also be used in a system test. No changes are required for this.